MARITIME OPERATIONS:
THE HUMAN ELEMENT
Washington Marriott, Washington,DC April 23 & 24, 2002

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April 15, 2002

Delivery set for Olympia Explorer
Royal Olympic Cruise Lines Inc. and Blohm + Voss GmbH have finally reached an agreement on delivery of the fast cruise ship Olympia Explorer.

The ship will be delivered in Hamburg in time for the start of the summer season.

Olympia Explorer is the sister ship of the Olympia Voyage, which was delivered to Royal Olympic Cruise Line in June 2000.

With their service speed of more than 28 knots the sships are the fastest cruise vessels of their size.

Delivery of Olympia Explorer coincides with the yard's 125th anniversary

The 836-passenger ship will commence its itineraries May 3 and its first cruises from Piraeus and Venice are already sold out. .

Hydrogen power for ships

Millennium Cell Inc., announced today that its trademarked "Hydrogen on Demand" fuel system will be used to demonstrate the utility of hydrogen fuel for generating power for ships and facilities in ports.

Millennium Cell is a development-stage company that has created a proprietary technology to safely generate and store hydrogen,

Now a multiphase U.S. Maritime Administration (MARAD) program is being led by Seaworthy Systems, which will provide system integration and engineering for Millennium Cell's technology.

The contract award comes at a time when many U.S. ports are well in excess of EPA air and water quality standards, and are facing significant fines or even closure.

Millennium Cell's Hydrogen On Demand system is a recyclable, clean-burning energy source that can be used with fuel cells and gas and diesel turbine engines. The only emissions are water vapor.

"Millennium Cell is providing visionary leadership in developing hydrogen fuel solutions for transportation, stationary and portable power and we are excited about the opportunity to assess the merits of the Hydrogen on Demand system in maritime applications -- including hydrogen powered fuel cells and internal combustion engines," said Matthew Winkler, vice president of Seaworthy Systems.

The program is designed to meet existing MARAD goals of achieving zero-emissions from fuel cells that may be used to power myriad systems both on U.S. vessels and in port facilities.

Millennium Cell's hydrogen fuel system minimizes many of the logistical issues associated with hydrogen as it is compatible with the existing infrastructure for liquid petroleum fuels, produces about the same amount of energy per gallon as that of gasoline, and is completely safe to produce, store, and transport.

"We expect the demonstration of the Hydrogen on Demand system in maritime applications will show how efficiently we can reduce air and water pollution in our seaports and waterways and provide a clean energy solution to help solve complex environmental issues," said Millennium Cell resident and CEO Dr. Stephen S. Tang.

Millennium Cell's system generates hydrogen from sodium borohydride, which is derived from sodium borate, commonly known as borax.

Dissolved in water and passed through a proprietary catalyst chamber, the sodium borohydride releases a perfect stream of pure hydrogen - on demand - to power a fuel cell or an internal combustion engine. The fuel's byproduct is water and borax.

The two phased MARAD program includes a review and design phase followed by a commercial technology demonstration. The program was started in January and will be completed within 18 months.

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