Medis Technologies secures patent for essential fuel cell component

NEW YORK, NY, Jan. 2, 2002 — Medis Technologies Ltd., announced today that it has received a Notice of Allowance from the United States Patent Office for a new class of electrocatalysts for fuel cells.

The invention relates to a new class of electrocatalysts based on highly electroconductive polymers that have transition metal atoms covalently bonded to heteroatoms.

The catalyst has a very high catalytic activity which allows for a significant reduction in the amount of platinum used in the fuel cell without compromising the performance of the system, thereby significantly reducing the cost of the fuel cell system.

This United States Patent comes only a few months after the receipt by Medis Technologies of a patent under the Patent Cooperation Treaty (Publication No. WO01/15253, March 1, 2001) which provides protection in various jurisdiction including Europe and which relates to Medis Technologies’ catalyst and electrode technologies.

“We are pleased to receive this Notice of Allowance with respect to this patent application which is the first of a series of eight patents for which we have applied in the United States regarding our fuel cell technology,” said Robert K. Lifton, Chairman and CEO of Medis Technologies. “The allowed claims relate to our catalyst and to certain applications of our highly electrically conductive polymers which are essential components of our fuel cell technology. We expect the patent to issue shortly.”

Medis Technologies is involved in the development of highly advanced proprietary technology products primarily related to source of clean energy for the 21st Century. The company’s primary focus is on Direct Liquid Ethanol (Methanol) fuel cell technology.

Its business strategy is to license, sell or joint venture with large international corporations.

The company’s product pipeline, in varying stages of development, includes highly electrically conductive polymers, the toroidal engine and compressor, stirling cycle linear compressor and reciprocating electrical machines. The Company has also developed the CellScan with many applications relating to disease diagnostics and chemo sensitivity.