MTI MicroFuel Cells Inc. (MTI Micro), developer of Mobion micro fuel cell technology and a subsidiary of Mechanical Technology Incorporated (Nasdaq: MKTY), announced that it has signed a Market Development Agreement with SES AMERICOM Inc. (SES AMERICOM), a subsidiary of SES GLOBAL, a world leader in satellite services and satellite-centric networks. As part of the agreement, MTI Micro will work with SES AMERICOM to determine and evaluate the use and integration of MTI Micro’s Mobion technology into AMERICOM products that may benefit from alternative energy sources such as fuel cells. The two companies will work jointly on market identification, the development and delivery of prototypes, qualification processes for any resulting products and the development of a market entry strategy for those products.
“This agreement with SES AMERICOM, a leading provider of satellite services in North America, brings us closer to product readiness and the commercialization of Mobion for the military and industrial markets, which is a key focus of our efforts in 2006,” said Juan Becerra, Vice President of Marketing and Business Development for MTI Micro.
“Micro fuel cells can offer significant advantages, such as longer run time, for portable products and back-up power solutions,” said Robert Phelan, SES AMERICOM’s Senior Vice President of Market and Business Solutions. “We are looking forward to working with MTI Micro, a leader in fuel cell technology, to develop a competitive advantage for our products.”
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