MTI MicroFuel Cells Inc. (MTI Micro), a leading developer of miniaturized fuel cells for portable handheld electronic devices, and a subsidiary of Mechanical Technology Inc. (Nasdaq: MKTY), announced it has received an award from the United States Department of Energy (DOE) Office of Hydrogen, Fuel Cells, and Infrastructure Technologies.
MTI Micro has been selected for a three year, cost-shared development contract as part of President Bush's $1.2 billion hydrogen initiative. The program is expected to receive $3 million in funding from the DOE which will be matched by a like amount from the MTI Micro team, for a total program of $6 million.
Shared with its subcontract partners, this award will fund future advancement of MTI Micro's mobile consumer direct methanol fuel cell (DMFC) platform, which generates electrical power in a passive mode using 100% (neat) methanol as fuel. By developing mass manufacturing techniques while simultaneously optimizing its unique DMFC technology platform, this collaborative work is expected to contribute to MTI Micro's planned improvements in cost reduction, reliability and performance.
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