Original Press Release
Congressman McNulty Unveils MTI's Fuel Cell System
Press release date: November 30, 2006
Company to begin taking orders for its MOBION® 30 fuel cells -
ALBANY, N.Y., Nov. 30 -- MTI MicroFuel Cells (MTI Micro), the developer of the award-winning Mobion® micro fuel cell technology and a subsidiary of Mechanical Technology Incorporated (NASDAQ:MKTY) announced today that it is now ready to accept orders for its Mobion® 30M systems from qualified customers as the Company moves to set-up military market test sites.
At a meeting today, Congressman Michael R. McNulty (D-Green Island) joined executives of the Company to unveil MTI Micro's Mobion® 30M systems prototype now available for sale for evaluation purposes.
"There continues to be an urgent need for an improved power source to address the growing portable power demands in the military," said Congressman McNulty. "I am very excited that this world class, cutting edge micro fuel cell technology is being developed in our region by MTI Micro, and thankful for the company's efforts on behalf of our military personnel."
The Mobion® 30M addresses the urgent need for a lighter and more compact power source for the 21st century warrior, and is an example of MTI Micro's commercial technology being adapted for a wide range of military applications to improve the mobility and effectiveness of today's soldier offering a number significant advantages such as:
o Less weight - one third less than the weight of batteries. One fuel cell and three easy-to-swap, 100% methanol fuel cartridges - deliver the energy of eleven (11) primary BA5590 batteries; o Instant power - hybrid fuel cell and battery system provide instant peak power - 120 watts and long-lasting continuous power - 30 watts; and o No special disposal requirements - methanol is biodegradable.
"We are now showing our Mobion® 30M systems prototypes to a steady stream of interested parties and are ready to enter into a testing phase in 2007," said Peng Lim, CEO of MTI Micro. "This testing phase will provide MTI Micro with the opportunity to showcase its technology and establish strategic relationships in the military markets. So far, the positive feedback from our prototype demonstrations has shown that MTI Micro is a leader in the field of direct methanol fuel cell technology."
"We would like to express our appreciation to Congressman McNulty for his efforts related to our fuel cell development and his leadership bringing funding to Upstate New York for clean energy projects," said Steven Fischer, Chairman and CEO of Mechanical Technology.
As the Company moves toward commercialization, it plans to set up multiple test sites throughout 2007, and successful results from these tests should then lead to the initial commercialization of military units in 2008 and move us closer to product entry into consumer markets.
For more details about the Mobion® 30M, to download a Mobion® 30M brochure, and for information about how to order Mobion® 30Ms, please visit our website at www.mtimicrofuelcells.com
About MTI MicroFuel Cells
MTI MicroFuel Cells Inc., a subsidiary of Mechanical Technology Incorporated (MTI) (NASDAQ:MKTY), is the developer of the award-winning Mobion® direct methanol micro fuel cell technology. MTI Micro has a world- class team of entrepreneurial business executives, researchers and scientists; a number of system prototypes demonstrating size reductions and performance improvements; significant related intellectual property; and has received government awards and developed strategic partnerships to facilitate efforts to achieve commercialization. More information is available at www.mtimicrofuelcells.com.
Source: Mechanical Technology Incorporated
CONTACT: George Relan Vice President of Corporate Development +1-518-533-2220 firstname.lastname@example.org
Web site: http://www.mtimicrofuelcells.com/