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) unveils tomorrow a
new prototype for the digital camera market at the 4th International
Hydrogen and Fuel Cell Expo in Tokyo, Japan. In addition to a
demonstration featuring the Company´s most recent Mobion(R) powered
external power pack chargers, the new camera-grip prototype will be on
display at booth number 5-14 along with a new embedded fuel cell
concept model demonstrating Mobion´s(R) potential for integration into
future portable electronic devices.
MTI Micro´s new Mobion(R) powered Direct Methanol Fuel Cell (DMFC)
camera-grip prototype works like a camera battery-pack grip for
digital single-lens reflex (DSLR) cameras. The prototype is designed
to provide twice as much energy as existing camera battery-pack grips
of the same size. Also, the Mobion(R) camera grip can be refilled with
methanol for instant power, which allows photographers the freedom to
use the camera any time, anywhere, without having to recharge from a
wall outlet.
"Digital cameras make up the second largest revenue segment in the
consumer lithium-ion battery market," said Peng Lim, CEO of MTI. "With
more advanced features being designed into new models, such as
high-definition video recording and playback, battery life becomes a
key issue. This camera grip prototype demonstrates our ability to
remove power consumption issues for manufacturers, so that they can
keep innovating and developing new products."
Today´s DSLR cameras are increasingly being purchased by average
consumers; this new prototype addresses the power demands of this
widening market segment. According to industry sources, in 2007, there
were approximately six million DSLRs shipped that are compatible with
MTI Micro´s prototype, and the market is expected to continue to grow
in the next several years.
MTI Micro´s booth at the expo will showcase functional prototypes
and present visitors with an overview of the potential applications
for Mobion(R) micro fuel cells. MTI Micro´s refillable Mobion(R)
external power pack chargers will be supplying power to a variety of
cutting-edge portable devices, including a cell phone, a digital
camera, an MP3 player and a smart phone. Visitors will be able to
interact with each independently Mobion(R) powered device at the
booth.
Additionally, the Company has developed a new embedded fuel cell
concept model, which will also be on display. Designed for a cutting
edge Smartphone, the concept model highlights the anticipated future
product direction for Mobion(R) micro fuel cells in the consumer
market.
"The International Hydrogen and Fuel Cell Expo will provide us
with additional opportunities to demonstrate our prototypes to the
many interested parties who could potentially become our strategic
partners," said Mr. Yasuo Mohri, newly appointed Japan-based
representative for MTI Micro. "With a continual presence in Japan, our
relationships will benefit from a local point of contact, so MTI Micro
can continue to foster stronger relationships in the region while
solidifying its leadership position in commercializing direct methanol
fuel cell technology."
MTI Micro´s Mobion(R) demonstration can be seen at MTI Micro´s
display booth number 5-14 at the Fuel Cell Expo from Wednesday,
February 27 through Friday, February 29. For more information on the
4th Annual Hydrogen and Fuel Cell Expo in Tokyo, visit
http://www.fcexpo.jp/english/.
MTI Micro is developing Mobion(R) cord-free rechargeable power
pack technology as a superior solution for powering the multi-billion
dollar portable electronics market. MTI Micro´s strategy is to enter
the market in 2009 with Mobion(R) products for use in the consumer
electronics industry for applications like cell phones, digital
cameras, PDAs, MP3 players and other handheld electronic devices.
About MTI MicroFuel Cells
MTI MicroFuel Cells Inc., a subsidiary of Mechanical Technology
Incorporated, (NASDAQ: MKTY), is the developer of the award winning
Mobion(R) direct methanol micro fuel cell technology. The Company 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 help accelerate 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, 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 for consumer applications; the importance of and benefits from
developing or unveiling prototypes; the ability of MTI Micro or our
Japanese representative to develop key relationships with OEM decision
makers, foster business development, or sell and support fuel cell
systems to customers, and; the future prospects, markets, product
launch, market acceptance, and commercialization plans of MTI Micro
products in the consumer markets. 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 and
competition; 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.
