MTI receives authorisation for additional funding from US DOE

MTI Micro Fuel Cells, the developer of Mobion portable power solutions, a subsidiary of Mechanical Technology Incorporated. Today announced that the Office of Hydrogen, Fuel Cells and Infrastructure Technologies of the U.S. Department of Energy (DOE) authorised the release of an additional $325,000 under its program with MTI Micro for the development of manufacturing techniques and the optimisation of the Mobion technology platform. With this most recent authorisation, the DOE has funded or committed to fund an aggregate of $1.825 million to this program during the past 12 months.

“We are pleased with the DOE’s continued support for the ongoing development of manufacturing techniques for the commercialisation of our Mobion technology,” said Peng Lim, CEO of MTI. “This additional funding will contribute to our efforts in designing the Mobion platform for testability as part of our manufacturing readiness plan this year, in preparation for a Mobion product launch in the consumer market in 2009.”

This funding authorisation is part of a cost-shared development contract originally awarded in 2004 through a merit-reviewed, competitive process involving academia, industry and DOE national laboratories. It has been reported that since its inception and including the most recent authorisation, the DOE has funded or committed to fund an aggregate of $3 million to MTI Micro’s Mobion developmental efforts.
 

Source: Fuel Cell Today