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Congressman McNulty Unveils MTI's Fuel Cell System [GPKLBMK]

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Posted by lkgeo1 on November 30, 2006, 2:59 pm
 


 Congressman McNulty Unveils MTI's Fuel Cell System [GPKLBMK]

- Company to begin taking orders for its MOBION(R)30 fuel cells -

ALBANY, N.Y., Nov. 30 /PRNewswire-FirstCall/ -- MTI MicroFuel Cells
(MTI
Micro), the developer of the award-winning Mobion(R) 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(R) 30M systems from qualified customers as the Company moves to
set-up
military market test sites.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20061130/NYTH101
      Logo:  http://www.newscom.com/cgi-bin/prnh/20060809/NYW032LOGO-b
)
    At a meeting today, Congressman Michael R. McNulty (D-Green Island)
joined
executives of the Company to unveil MTI Micro's Mobion(R) 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(R) 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:
    * 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;
    * Instant power - hybrid fuel cell and battery system provide
instant peak
      power - 120 watts and long-lasting continuous power - 30 watts;
and
    * No special disposal requirements - methanol is biodegradable.

    "We are now showing our Mobion(R) 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(R) 30M, to download a Mobion(R)
30M
brochure, and for information about how to order Mobion(R) 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(R) 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.
    Statements in this press release which are not historical fact
including
statements regarding management's intentions, hopes, beliefs,
expectations,
representations, projections, plans or predictions of the future are
forward-
looking statements within the meaning of the Private Securities
Litigation
Reform Act of 1995.  Such statements include, among others, future
prospects
and applications for fuel cell systems, including those adapted for
military
use; the ability of MTI Micro to sell fuel cell systems to customers,
including the U.S. Military; MTI's ability to deliver fuel cell systems
that
withstand testing and meet requirements and expectations of prospective

customers, including the U.S. military; MTI Micro's future business
prospects,
technology and performance; the market potential for and progress MTI
Micro is
making in developing its Mobion(R) fuel cell systems, including fuel
cell
systems or prototypes suitable for use by the U.S Military; the timing
or
success of entry into the military market by MTI Micro; MTI Micro's
ability to
meet its stated milestones on time, if at all.  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 and MTI's actual
results
could differ materially from those projected in forward-looking
statements.
Factors that could cause the anticipated results not to occur include,
among
others, risks related to financing; uncertainties in development,
manufacturing, competition and military demand for DMFCs; and the risk
factors
listed from time to time in MTI's SEC reports including but not limited
to,
the annual report on Form 10-K and Quarterly Reports on Form 10-Q.
SOURCE  Mechanical Technology Incorporated

George Relan, Vice President of Corporate Development, +1-518-533-2220,

grelan@mechtech.com
30Nov06 14:41 GMT
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Posted by Eeyore on November 30, 2006, 4:52 pm
 




lkgeo1 wrote:


Bwaahahahahahhahah

Only the military can afford it.

Graham


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