Frost & Sullivan, a leading market research company, has named MTI MicroFuel Cells, Inc. (MTI Micro) the 2005 Fuel Cell Entrepreneurial Company of the Year.
MTI Micro was the first to commercialize and ship a micro fuel cell product in 2004.
“To become a truly entrepreneurial-spirited company, many aspects are considered from product development and innovation, to strategic partnerships and achievement of financial resources to ensure a large probability of success,” says Frost & Sullivan research manager Sara Bradford.
Since 2001, the company has striven to develop and strengthen necessary platforms to bring micro fuel cell technology from conceptual stage to product launch. This infant industry faces many challenges including slow adoption new technology, lack of cartridge/fuel refill standardization, transportability of cartridges, and growth from low to high volume manufacturing with decreasing cost curves.
MTI Micro achieved numerous patent-pending designs with the ultimate goal of overcoming a key challenge micro fuel cell technologies face – compact size. Its innovative internal design requires no pumps or re-circulation loops, therefore, creating a simpler design and streamlining the size of the cell.
The company also gained multiple certifications that build end-user confidence in its safety and performance standards.
In June 2004, MTI Micro announced Mobion(TM) technology, a truly innovative design in the micro fuel cell arena. The company successfully delivered its first Mobion(TM) product used with Intermec Technologies GmbH’s handheld Radio Frequency Identification (RFID) tag reader device. This is considered a high-drain device, requiring an energy source that can efficiently power it for an extended period of time.
“Having identified the tremendous opportunity in the niche RFID market, MTI Micro moved to supply Mobion(TM) technology for tag readers,” notes Bradford. “This strategic move not only built up MTI Micro’s brand recognition, but also initiated the growth of micro fuel cells as an alternative to conventional battery chemistries in high-drain portable devices.”
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