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MTI Micro Begins Fuel Cell Product Field Testing with DOE and NYSERDA Funding |
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| 2010/6/17 |
MTI Micro Fuel Cells Inc. (MTI Micro), the developer of the Mobion® off-the-grid portable power solution, and a subsidiary of Mechanical Technology, Incorporated (MTI) (OTC: MKTY) announced today that it has initiated a $1.5 million field testing program for the company’s Mobion® micro fuel cell with support from the U.S. Department of Energy (DOE), and the New York State Energy Research and Development Authority (NYSERDA).
The program will enable MTI Micro to obtain feedback on Mobion® products from key stakeholders, including the U.S. Department of Defense (DOD), the DOE, original equipment manufacturers (OEMs), industry experts, and consumer testers.
In addition, the company announced a 20% improvement in the power density of its Mobion® technology after demonstrating an increase in performance from 84mW/cm2 to 100mW/cm2 at the company’s Albany, NY-based lab. MTI Micro believes this is the highest performance achieved in a vapor feed, passive water management direct methanol fuel cell which will enable more energy dense micro fuel cells systems.
“This program is putting our Mobion® product in the hands of consumers making it a major milestone for MTI Micro and the entire hand-held DMFC industry,” said Peng Lim, President and CEO of MTI Micro. “These mobile users will finally experience the benefits of a new green energy source, and the freedom of having on-the-go power to match their lifestyle.”
This announcement follows the receipt of a $1.2 million grant from the DOE, and a $295,000 award from NYSERDA to support next-generation power technologies with the potential for advancing New York toward a clean energy economy. Both funding awards are being used to support the company’s field testing program.
About MTI MicroFuel Cells
MTI MicroFuel Cells Inc. (“MTI Micro”) (MKTY), a subsidiary of Mechanical Technology, Incorporated, is the developer of Mobion® off-the-grid portable power solutions. MTI Micro has a team of entrepreneurial business executives, researchers and scientists; a proprietary direct methanol micro fuel cell power system and a number of system prototypes demonstrating size reductions and performance improvements; and related intellectual property. MTI Micro has received government funding and developed strategic partnerships to facilitate efforts to achieve commercialization. More information is available at www.mtimicrofuelcells.com.
Statements in this press release which are not historical fact including statements regarding management’s intentions, hopes, goals, beliefs, expectations, projections, plans, anticipation, outlook or predictions of the future are forward looking statements. Such statements include MTI Micro’s ability to successfully commercialize its Mobion® fuel cell product. All forward-looking statements are made as of today, and MTI and MTI Micro disclaim any duty to update such statements. It is important to note that MTI Micro’s actual results could differ materially from those projected in forward-looking statements. Factors that could cause the anticipated results not to occur include the lack of funding to complete the commercialization of its direct methanol fuel cell technology; and the risk factors listed from time to time in MTI’s SEC reports including but not limited to, MTI’s annual report on Form 10-K for the year ended December 31, 2008.
News Source: Business Wire
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| Contacts |
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Contact : Scott Estro
Company : MTI Micro Fuel Cells Inc.
Country : United States
Telephone : 415-233-6814
Email : sestro@digcommunications.com
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