Millennium Cell in the US invented, patented and developed a proprietary process called Hydrogen on Demand™. In the process, the energy potential of hydrogen is carried in the chemical bonds of sodium borohydride, which in the presence of a particular catalyst either releases hydrogen or produces electricity.

The primary input components of the reaction are water and sodium borohydride, a derivative of borax. US Borax is the world's largest supplier of borates. The Millennium Cell process supplies pure hydrogen for energy applications without the need for compression or liquefaction. Hydrogen from this system can be used to power fuel cells, or be fed directly to internal combustion engines. The fuel is emission free at the time of use, and the only by products are water and borates.

Millennium Cell is also developing longer life batteries based on boron chemistry. The batteries are targeted for consumer products like laptop computers and mobile phones, and in addition to lasting longer, also offer environmental advantages and can be disposed of in the regular waste stream without harmful effect.

The development agreement between Millennium Cell and US Borax represents the potential to greatly increase the worldwide demand for sodium borates. Under the terms of the agreement, the parties will jointly develop intellectual property rights related to a lower cost process for the manufacture and recycling of sodium borohydride. These rights will provide a basis for future third party licence agreements