Mechanical Technology has announced that its subsidiary MTI MicroFuel Cells, Inc., has received an award of US$500,000 from the New York State Energy Research and Development Authority (NYSERDA).ALBANY, New York – April 26, 2002 [SolarAccess.com] The award, matched by a similar commitment from the company, will help fund a yearlong research program to advance the development and commercialization of direct methanol micro fuel cell technology. The NYSERDA award will also augment and support a US$9.3 million research and development program that is a joint effort of MTI MicroFuel Cells and DuPont. In August 2001, the two companies received an award of US$4.6 million for the program from the Advanced Technology Program (ATP) of the National Institute of Science and Technology (NIST). The primary focus of the program is to develop an advanced micro fuel cell system as a future power source for portable electronic devices such as mobile phones, personal digital assistants, convergence devices, laptops and other portable electronic devices. In March, MTI Micro demonstrated its second-generation micro fuel cell system prototype that was over 20 percent smaller than its October 2001 prototype and more sophisticated, with integrated electronic controls. The Company has an announced target of a 2004 mass-market entry for its micro fuel cell power source. “The NYSERDA award will help accelerate our drive to be the New York based business bringing this power source to the multi-billion dollar global market in portable electronics,” said Dr. William P. Acker, president of Mechanical Technology. “This award is part of a longstanding NYSERDA program to encourage the development of diverse new energy technologies and provide a range of energy-related, environmental and economic benefits to New York State and its citizens,” said William M. Flynn, president of NYSERDA.