Mercury EV-Tech Limited entered into manufacturing of Hydrogen Storage Tank. A Unique product to contribute to Climate Change

Mercury EV-Tech Limited

Recent update on the Bombay Stock Exchange (BSE), the company has updated that they have inked the Memorandum of Understanding with UK and Israel based company for technology sharing for manufacturing of Hydrogen Storage Tank. This revolution will change the entire climate change issue at the global level. The MOU is signed jointly with Hydrogen Horizons Ltd (HHL) (Registered in the United Kingdom) and Hydrogen Horizons Israel Ltd (HHIL).

HHIL and HHL and Mercury Group agree to form a joint venture to develop and manufacture a patented product of a hydrogen vessel ref US 8628 609 B to commercialize the Hydra Pak product, referred to as "New Co". (United States Patent Ornath Patent N0.: (US 8,628,609 B2) Date of Patent: Jan. 14, 2014 (10) HYDROGEN STORAGE TANK Inventor: Fredy Ornath, Tel Aviv (IL) ABSTRACT A hydrogen containing tank having an inside Wall that is uniquely bonded to a hydride core Which is a porous hydrogen containing core material. The high hydrogen content capability and high thermal conductivity properties accommodate rapid release and intake of hydrogen gas. Low temperatures and high hydrogen charging discharging rates help to alleviate the use of hydrogen as an energy source in numerous applications.

United States Patent Ron Patent N0.: US4,607,826A Date of Patent: Aug. 26, 1986 Inventor: Moshe Ron, Haifa, Israel APPARATUS FOR PREPARING IMPROVED POROUS METAL-HYDRIDE COMPACTS ABSTRACT The present invention relates to a method and apparatus for preparing metal-embedded porous metallic-hydride (PMH) compacts capable of withstanding repeated hydriding-dehydriding cycles without disintegrating. According to the invention, the finely divided hydratable metal alloy hydride is admixed with a finely divided metal selected from Al, Ni, Cu, or other transition metals and charged with hydrogen. The resulting mixture is sintered in a furnace in which hydrogen is introduced at a pressure above the equilibrium pressure to the prevailing temperature, mechanical stress being applied simultaneously.

HHL will have responsibility to obtain a signed Tri-Party agreement between New Co and Mentana Group (2600 Rutherford Road Concord ONL4K 5R1 Canada) to purchase an initial number of Hydra Pak Units. Mentana Group will agree to an initial purchase order of 5 number units to secure the initial financial outlay of the production costs incurred. New Co will grant the Mentana Group exclusive rights for the sales and distribution of the Hydra-Pak throughout the Territories of Canada. As part of the exclusivity arrangements Mentana Group will provide evidence of their financial eligibility to fulfill the contractual arrangements. If the New Co is not formed and capitalized within one month of signing the Tri-party agreement the penalty clause referred to in clause 8 will become Null and Void.

The above development in the company will change the entire forecasting of the company's future overview.