ALBANY, N.Y., Sept. 4 /PRNewswire-FirstCall/ — Peng K. Lim, Chief Executive Officer of Mechanical Technology Incorporated (Nasdaq: MKTY) is scheduled to present at three investor conferences during September and October.
Mr. Lim will present at Kaufman Bros. Ninth Annual Investor Conference in New York City on Wednesday, September 5th at 10:55 a.m. (EDT). This two-day conference will showcase more than 120 leading companies serving the technology, communications and media sectors. Mr. Lim’s presentations will be webcast live on the Mechanical Technology Web site at http://www.mechtech.com/news/
In addition, Mr. Lim will present at the Alternative Energy and Clean Technology Conference in New York City. Mr. Lim’s presentation will take place Wednesday, September 19th at 10:20 a.m. (EDT). This one-day event, sponsored by Friedland Investments, will focus on alternative energy including fuel cells, wind energy, solar technologies and green bio-energy. For additional details or to register for the Alternative Energy and Clean Technology Conference.
Mr. Lim will also present at the 4th Annual Energy Tech Investor Conference held October 3rd and 4th in San Jose, CA. This two-day event sponsored by the Strategic Research Institute will bring together experts from the energy technology community to share their perspectives on investment opportunities for emerging technologies in the alternative energy space. On October 4th at 3:20 p.m. (PDT), Mr. Lim will participate in a panel discussion entitled “Emerging Technologies: 5 – 10 Years in the Future” and will discuss the impact of bringing fuel cells to market. For further information or to register for this event, visit http://www.almevents.com/conf_page.cfm?instance_id=25&web_id=975&pid=582.
At the conferences, Mr. Lim will be showing MTI Micro’s prototypes incorporating the state-of-the-art Mobion(R) chip technology, which integrates a power module with fluid conditioning that allows the system to run in a wide environmental range including temperatures from 0C to 40C at any humidity level. The Mobion(R) chip’s design offers great flexibility for OEMs — Its modularity offers manufacturing and systems integration efficiencies for many different consumer electronic applications. Using the same Chip in different system configurations will allow MTI Micro to respond quickly and effectively to the needs of OEMS.
In less than a year of development, the most recent prototype demonstrates a total size reduction of 60 percent to less than 200cc. In addition, the prototype is refillable and provides continuous run-time for power hungry portable electronic products. For example, with one full tank of fuel, it is designed to fully charge an average cell phone battery over eight times. It is also designed to allow customers to take more than 1,400 pictures on a small portable digital camera, or recharge a 5 gigabyte video/audio MP3 player over 10 times. As part of the presentations, Mr. Lim will also show two prototypes developed prior to the introduction of the Mobion(R) chip.
MTI is primarily engaged in the development and commercialization of award winning Mobion(R) cord-free advanced portable power systems, through its subsidiary MTI MicroFuel Cells Inc. (MTI Micro). MTI Micro has a world-class 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 significant related intellectual property. MTI Micro has received government awards and developed strategic partnerships to facilitate efforts to achieve commercialization. MTI is also engaged in the design, manufacture, and sale of high-performance test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. For more information about the Company please visit http://www.mechtech.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, MTI’s, 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 cells and Mobion(R) chips; and, MTI Micro’s ability to produce products or prototypes consistent with any announced specifications or customer requirements, 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 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
Released September 4, 2007