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15 Mar 2010 Register / Login F F F
22 Apr 2009

MTI Micro Makes Deal With Power Tool Maker

MTI MicroFuel Cells Inc. has announced that it has entered into an agreement with what it described as a "leading manufacturer of power tools" to evaluate its power packs that would be used for future cordless products for industrial applications.

MTI Micro and the power tool manufacturer are evaluating MTI Micro’s Mobion direct methanol fuel cell prototype.

MTI Micro, a subsidiary of Mechanical Technology Inc., last week announced it has been awarded $2.4 million in federal stimulus funding through the U.S. Department of Energy to further develop and commercialize its Mobion technology.

MTI posted a $12.5 million loss in 2008. On April 6, it delisted itself from the Nasdaq Capital Market. Beginning around April 24, shares for company will be quoted on the OTC Bulletin Board and/or the Pink Sheets, a centralized electronic quotation service.

 

Source: Fuel Cell Today

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