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Medis Announces Purchase Agreement for $38 Million Senior Convertible Notes

Medis Technologies Ltd. (Nasdaq: MDTL) has signed a purchase agreement to offer and sell $38 million Senior Convertible Notes with 6% due 2010. The initial purchaser can buy an additional $7 million for a thirty-day period following the offering date, for a total of up to $45 million aggregate principal amount of notes. The proceeds will be used for the construction, start-up and other costs related to a fully-automated manufacturing line for the Company’s fuel cell products as well as for working capital and general corporate purposes. The offering constituting a private placement under Rule 144A of the Securities Act of 1933 only to qualified institutional buyers. The securities will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Website: [sorry this link is no longer available]     

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Plug Power Receives Follow-On Order From Tyco

Plug Power Inc. (Nasdaq: PLUG)has received a follow-on order from its distribution partner Tyco Electronics Power Systems, Inc., making the total to 98 orders this year. “Said Mark Sperry, Chief Marketing Officer, “On the strength of this order, we are approximately halfway towards our target of 300 GenCore orders for the year.” As in the previous order for 63 systems, the GenCore systems will be co-branded with both the Tyco Electronics Power Systems and Plug Power brand names and are for deployment to the same major U.S.-based telecommunications provider. GenCore 5T is a 5kW DC backup power system designed specifically for the rigorous demands of the telecommunications outside plant. Launched in 2003 as a premium power solution, GenCore 5T has been deployed with telecommunications carriers and partners in North and South America, United Kingdom, Japan and South Africa. GenCore 5T has been certified in the U.S. to the applicable sections of NEBS (GR-63-CORE, GR-487-CORE and GR-1089-CORE), a rigorous set of equipment standards followed by many telecommunications carriers in the U.S., and in Europe to the CE standards. GenCore 5T provides telecommunication carriers with the ability to increase network reliability while reducing operating costs for their networks. Website: http://www.plugpower.com     

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A Bid to Chill Thinking; Behind Joe Barton's Assault on Climate Scientists

by David Ignatius, July 22, 2005 In today’s partisan political climate, science has inevitably become a political football. But I can’t remember anything quite as nasty — or as politically skewed — as Rep. Joe Barton’s recent attack on scientists whose views on global warming he doesn’t like. Barton, an 11-term Republican from Texas, is chairman of the House Energy and Commerce Committee and one of the oil lobby’s best friends on Capitol Hill. Late last month he fired off letters to professor Michael Mann of the University of Virginia and two other scientists demanding information about what he claimed were “methodological flaws and data errors” in their studies of global warming. Barton’s letters to the scientists had a peremptory, when-did-you-stop-beating-your-wife tone. Mann was told that within less than three weeks, he must list “all financial support you have received related to your research,” provide “the location of all data archives relating to each published study for which you were an author,” “provide all agreements relating to . . . underlying grants or funding,” and deliver similarly detailed information in five other categories. The scientists’ offense was that they had authored a controversial study that reported a sharp rise in […]

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