Fuel cell company begins $1.5M testing program (New York)
MTI Micro Fuel Cells Inc. said it has begun work in its $1.5 million field testing program.
The Albany company received $1.2 million from the U.S. Department of Energy. The funding was was part of the federal stimulus program. The New York State Energy Research and Development Authority contributed another $295 to support the initiative.
MTI Micro, which develops fuel cells it calls Mobion for hand-held devices such as cell phones. The field test program is putting devices in stakeholders’ hands, such as device manufacturers, industry experts and consumers.
“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,” said Peng Lim, MTI Micro’s president and CEO. He called the program a milestone for the company.
MTI Micro is a subsidiary of Mechanical Technology Inc. (OTC: MKTY).
Last month, MTI reported a $1.2 million first quarter loss. It had revenue of $1.27 million.
Read the full post in the The Business Review of Albany, N.Y.
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