Mechanical Technology Adds Industry Leaders And New Technology In Drive To Develop Micro Fuel Cells

Apr 19, 2001, 01:00 ET from Mechanical Technology Inc.

    ALBANY, N.Y., April 19 /PRNewswire/ --
 Mechanical Technology Inc. (Nasdaq: MKTY) announced additions to its senior
 leadership team and its portfolio of technology as the Company develops direct
 methanol micro fuel cells for portable power.
     "I am proud to announce that Jay K. Neutzler will become director of
 systems engineering, Dr. Xiaoming Ren will become director of fuel cell
 technology, and John P. Law will become vice president of operations for our
 micro fuel cell initiative," said Dr. William Acker, president of Mechanical
 Technology.
     "They join Dr. Shimshon Gottesfeld, a world leader in fuel cell research,
 as we continue to build a team with top talent in the micro fuel cell field,"
 said Acker. Gottesfeld is the chief technology officer and vice president of
 research and development for the micro fuel cell initiative.
     Neutzler is the inventor or co-inventor of 17 fuel cell related patent
 awards and filings in proton exchange membrane fuel cell technology, widely
 published in the field, and has been involved in many aspects of the
 production of fuel cell stacks and systems.  He was Principal Project Manager
 of the Direct Methanol Fuel Cell program for Motorola Labs.  Prior to that, he
 was Director of Engineering at Energy Partners L.C., where his
 responsibilities included managing the production of fuel cell prototypes for
 a U.S. Department of Energy program.  Neutzler holds a B.S. in Mechanical
 Engineering from the University of Kansas, and received his M.S. in Mechanical
 Engineering from Arizona State University's Center for Energy Systems
 Research.
     Ren worked with Gottesfeld at the Los Alamos National Laboratory for more
 than seven years, and is recognized as having played a key role in advancing
 almost every aspect of direct methanol fuel cell technology. Ren's expertise
 includes DMFC anode and cathode development and performance analysis;
 transport of methanol and water through the polymer electrolyte membranes;
 fuel cell flow field and stack designs; methanol sensors, membrane electrode
 assembly and characterization; and methanol electro-oxidation mechanism. He is
 widely published and holds 13 patents or patent applications on direct
 methanol fuel cells.  Ren has a Ph.D. in Analytical Chemistry and
 Electrochemistry from Memorial University of Newfoundland, Canada.
     Law has worked in the energy sector for 12 years, the past three at Plug
 Power Inc., where he developed fuel cell technology and business relationships
 to support commercialization efforts. Law's experience includes business
 development and product commercialization; research and development; design
 and product integration; and customer support systems. Prior to Plug Power,
 Law held management positions at GE Power Systems, where his responsibilities
 included overseeing a worldwide program modifying and upgrading existing power
 plants.  Law holds a B.S. in Electrical Engineering from the Rochester
 Institute of Technology, and an M.B.A. from Union College.
     "We welcome these accomplished individuals to our team, a team that
 already has made significant technological progress," said Gottesfeld.  "In
 January, we announced we had licensed key direct methanol fuel cell technology
 from the Los Alamos National Laboratory.  In February, we announced the filing
 of five of our own patent applications.  And now we have just filed our tenth
 patent application, with more in process.  We are committed to aggressively
 developing opportunities within the immense market for portable power," said
 Gottesfeld.
     Gottesfeld led the internationally recognized Fuel Cell Research Program
 at The Los Alamos National Laboratory for 15 years. He is extensively
 published and holds patents in electrochemistry, electrocatalysis and
 electrochemical power sources.  Gottesfeld is a Fellow of the Electrochemical
 Society and a Laboratory Fellow at LANL, and holds a Ph.D. from the Technion,
 Israel Institute of Technology.
     In addition to its micro fuel cell operation, the Company manufactures
 precision test and measurement systems through its subsidiary, MTI
 Instruments, Inc. MTI Instruments has three product groups: non-contact
 sensing instruments for product design and quality control procedures; jet
 engine balancing systems; and semiconductor systems for testing key elements
 critical to producing high quality wafers and chips for the semiconductor
 industry.
     Mechanical Technology co-founded and maintains a significant interest in
 Plug Power Inc. (Nasdaq: PLUG), a leading manufacturer of fuel cells. As part
 of a strategic alliance with SatCon Technology Corporation, the Company has an
 interest in SatCon, which develops power electronics and energy management
 products, and also has an interest in Beacon Power Corporation, which develops
 flywheel energy storage systems.
 
     Statements made in this document that are not historical fact are
 considered "forward looking" statements within the meaning of the Private
 Securities Litigation Act of 1995.  We wish to caution you that such
 statements are only predictions, and that our actual circumstances, events or
 results may differ materially from the information contained in any forward
 looking statements.  Investors should not rely on forward looking statements
 in making investment decisions.  Mechanical Technology's actual circumstances,
 events or results may differ from those contained in forward looking
 statements because of a number of factors, including but not limited to, 1)
 the availability and cost of capital, 2) the availability of opportunities at
 prices and on terms that are favorable to Mechanical Technology, and 3) the
 performance of technologies or companies with which Mechanical Technology is
 involved.  Additional information concerning factors that may cause actual
 results to differ from those contained in the forward looking statements may
 be found, from time to time, in our SEC filings, including but not limited to,
 our 10-K and 10-Q.  Copies of those filings are available from the Company and
 from the SEC.
 
 

SOURCE Mechanical Technology Inc.
    ALBANY, N.Y., April 19 /PRNewswire/ --
 Mechanical Technology Inc. (Nasdaq: MKTY) announced additions to its senior
 leadership team and its portfolio of technology as the Company develops direct
 methanol micro fuel cells for portable power.
     "I am proud to announce that Jay K. Neutzler will become director of
 systems engineering, Dr. Xiaoming Ren will become director of fuel cell
 technology, and John P. Law will become vice president of operations for our
 micro fuel cell initiative," said Dr. William Acker, president of Mechanical
 Technology.
     "They join Dr. Shimshon Gottesfeld, a world leader in fuel cell research,
 as we continue to build a team with top talent in the micro fuel cell field,"
 said Acker. Gottesfeld is the chief technology officer and vice president of
 research and development for the micro fuel cell initiative.
     Neutzler is the inventor or co-inventor of 17 fuel cell related patent
 awards and filings in proton exchange membrane fuel cell technology, widely
 published in the field, and has been involved in many aspects of the
 production of fuel cell stacks and systems.  He was Principal Project Manager
 of the Direct Methanol Fuel Cell program for Motorola Labs.  Prior to that, he
 was Director of Engineering at Energy Partners L.C., where his
 responsibilities included managing the production of fuel cell prototypes for
 a U.S. Department of Energy program.  Neutzler holds a B.S. in Mechanical
 Engineering from the University of Kansas, and received his M.S. in Mechanical
 Engineering from Arizona State University's Center for Energy Systems
 Research.
     Ren worked with Gottesfeld at the Los Alamos National Laboratory for more
 than seven years, and is recognized as having played a key role in advancing
 almost every aspect of direct methanol fuel cell technology. Ren's expertise
 includes DMFC anode and cathode development and performance analysis;
 transport of methanol and water through the polymer electrolyte membranes;
 fuel cell flow field and stack designs; methanol sensors, membrane electrode
 assembly and characterization; and methanol electro-oxidation mechanism. He is
 widely published and holds 13 patents or patent applications on direct
 methanol fuel cells.  Ren has a Ph.D. in Analytical Chemistry and
 Electrochemistry from Memorial University of Newfoundland, Canada.
     Law has worked in the energy sector for 12 years, the past three at Plug
 Power Inc., where he developed fuel cell technology and business relationships
 to support commercialization efforts. Law's experience includes business
 development and product commercialization; research and development; design
 and product integration; and customer support systems. Prior to Plug Power,
 Law held management positions at GE Power Systems, where his responsibilities
 included overseeing a worldwide program modifying and upgrading existing power
 plants.  Law holds a B.S. in Electrical Engineering from the Rochester
 Institute of Technology, and an M.B.A. from Union College.
     "We welcome these accomplished individuals to our team, a team that
 already has made significant technological progress," said Gottesfeld.  "In
 January, we announced we had licensed key direct methanol fuel cell technology
 from the Los Alamos National Laboratory.  In February, we announced the filing
 of five of our own patent applications.  And now we have just filed our tenth
 patent application, with more in process.  We are committed to aggressively
 developing opportunities within the immense market for portable power," said
 Gottesfeld.
     Gottesfeld led the internationally recognized Fuel Cell Research Program
 at The Los Alamos National Laboratory for 15 years. He is extensively
 published and holds patents in electrochemistry, electrocatalysis and
 electrochemical power sources.  Gottesfeld is a Fellow of the Electrochemical
 Society and a Laboratory Fellow at LANL, and holds a Ph.D. from the Technion,
 Israel Institute of Technology.
     In addition to its micro fuel cell operation, the Company manufactures
 precision test and measurement systems through its subsidiary, MTI
 Instruments, Inc. MTI Instruments has three product groups: non-contact
 sensing instruments for product design and quality control procedures; jet
 engine balancing systems; and semiconductor systems for testing key elements
 critical to producing high quality wafers and chips for the semiconductor
 industry.
     Mechanical Technology co-founded and maintains a significant interest in
 Plug Power Inc. (Nasdaq: PLUG), a leading manufacturer of fuel cells. As part
 of a strategic alliance with SatCon Technology Corporation, the Company has an
 interest in SatCon, which develops power electronics and energy management
 products, and also has an interest in Beacon Power Corporation, which develops
 flywheel energy storage systems.
 
     Statements made in this document that are not historical fact are
 considered "forward looking" statements within the meaning of the Private
 Securities Litigation Act of 1995.  We wish to caution you that such
 statements are only predictions, and that our actual circumstances, events or
 results may differ materially from the information contained in any forward
 looking statements.  Investors should not rely on forward looking statements
 in making investment decisions.  Mechanical Technology's actual circumstances,
 events or results may differ from those contained in forward looking
 statements because of a number of factors, including but not limited to, 1)
 the availability and cost of capital, 2) the availability of opportunities at
 prices and on terms that are favorable to Mechanical Technology, and 3) the
 performance of technologies or companies with which Mechanical Technology is
 involved.  Additional information concerning factors that may cause actual
 results to differ from those contained in the forward looking statements may
 be found, from time to time, in our SEC filings, including but not limited to,
 our 10-K and 10-Q.  Copies of those filings are available from the Company and
 from the SEC.
 
 SOURCE  Mechanical Technology Inc.