mPhase Technology, Inc released news today highlighting the fact that one of the items included in the Fiscal Year 2011 Defense Appropriations bill that was recently passed out by the subcommittee in the United States House of Representatives may benefit mPhase. The release stated “Scalable Smart Reserve Cell Technology is listed to receive funding in the amount of $2,500,000.” Read the entire release here http://finance.yahoo.com/news/Scalable-Smart-Reserve-Cell-iw-789614121.html?x=0&.v=1.
Ronald Durando, President and CEO of mPhase Technology expressed confidence in the recent announcement and he went on to say “we are encouraged that Congress has recognized the importance of this technology”. It is reported that mPhase is working closely with the United States Army to complete Phase II of a $750,000 Small Business Technology Transfer grant to develop scalable smart reserve power cell technology.
What makes today’s release so exciting for mPhase is that if the funding is ultimately included in the final bill than mPhase will have an opportunity to benefit from the Government program. Completion of the funding would be perfect timing as mPhase is ready to custom tailor its Smart NanoBattery for multiple military subsystems and critical mission commercial products.
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