MTI MicroFuel Cells Inc. ("MTI Micro"), the developer of Mobion® off-the-grid portable power solutions and a subsidiary of Mechanical Technology, Incorporated ("MTI") (NASDAQ: MKTY) announced today that they have entered into an agreement with a leading manufacturer of power tools to evaluate the Mobion® platform for use in future cordless products for industrial applications.
In a collaborative effort, MTI Micro and the power tool manufacturer are currently evaluating MTI Micro's Mobion® direct methanol fuel cell (DMFC) prototype. With MTI Micro's patented replaceable fuel cartridge design, it can generate cord-free power that replaces current batteries and eliminates the wait time for it to charge up, and can also increase a users' mobility by eliminating the need to find an available wall plug.
"We are pleased to be working with a leading power tool manufacturer. This relationship will allow MTI Micro to pursue opportunities beyond the consumer electronics market," said Peng Lim, CEO of MTI. "With their extensive engineering background in manufacturing top-of-the-line industrial tools, this opportunity opens the door for micro fuel cells as an independent power source for various applications."
MTI Micro's Mobion® DMFC platform incorporates a modular design that enables the flexibility required for micro fuel cells to be used in a wide range of applications, including mobile consumer electronics and other devices that require extended run-time and true mobile power.