Biomedical signs letter of intent on sale of hydrogen batteries

Analysis

Biomedical Computer Technologies, a Hungarian drug and healthcare products wholesaler, said Tuesday it signed a letter of intent with J.M.B. Diffusion&Conseil on the sale of hydrogen batteries.

J.M.B. Diffusion&Conseil undertook to purchase 100,000 of the batteries as soon as mass production starts, and to buy an additional 200,000 batteries later.

Biomedical shares have been listed in category "B" of the Budapest Stock Exchange since June 29 of this year.

The company decided to list its shares in order to raise capital to fund the development of an invention gained through its earlier merger with Hydro-Tar that replaces battery acid with hydrogen.

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