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MTI Micro Names Soucy President

- Takes aim on expanding Mobion(TM) products and markets -

ALBANY, N.Y., Dec. 15 -- MTI MicroFuel Cells Inc. (MTI Micro), the developer of award winning Mobion(TM) technology suitable for handheld electronic devices, and a subsidiary of Mechanical Technology Incorporated , announced the appointment of Alan J. Soucy as President and Chief Operating Officer.

This follows the Company's announcement of its first production shipment of an integrated micro fuel cell product powering a portable electronics device; a first within the industry and a milestone for the Company. This product launch helps to pave the way for future products, to advance development of manufacturing processes, and to energize our supply chain in order to increase quality and reliability, reduce costs and develop market acceptance.

"Alan is an experienced executive with the necessary skills to lead Company operations in the development and commercialization of Mobion(TM) technology products for military and consumer electronics markets," said Dr. William Acker, CEO of MTI Micro. "By transitioning the President's role and its operational duties to Alan, I will be able to provide greater focus on driving the Company's strategic leadership and growth."

Soucy will now head both Silicon Valley and Albany, NY operations, and will be responsible for increasing operational efficiencies, reducing costs, overseeing Company milestones and bringing products to market.

Mr. Soucy, who held the position of Chief Operating Officer since joining MTI Micro in August 2002, brings with him over 20 years of management experience gained from large multi-national corporate and smaller high tech start-ups. Soucy's background includes several years as general manager of Philips Mobile Computing Group, the portable digital products division of Philips Electronics, where he helped to establish Philips as a leading supplier of handheld and mobile products. Soucy was also an executive officer at Tripath Technologies, Inc., a fabless semiconductor supplier for consumer electronics and broadband communications customers, which he helped take public in 2000. In addition to his leadership roles at Philips and Tripath, Soucy has held a number of key executive roles including marketing, sales, product development and business unit management.

"We have made substantial progress in the development and commercialization of our initial Mobion(TM) based product," said Alan Soucy, President and COO. "I look forward to driving our Company's operations through our next critical phases of growth -- where we expand our Mobion(TM) product offering while implementing efficiencies across the organization. My goal and the goal of the entire Company is to remain a world leader in micro fuel cells, providing Mobion(TM) advanced power technology for the global markets in portable electronics."

About MTI MicroFuel Cells Inc.

MTI MicroFuel Cells Inc., a subsidiary of Mechanical Technology Incorporated, , is the developer of the award winning Mobion(TM) direct methanol micro fuel cell technology. The Company has a world-class team of entrepreneurial business executives, researchers and scientists; a number of system prototypes demonstrating size reductions and performance improvements; significant related intellectual property; and has received government awards and developed strategic partnerships to help accelerate commercialization. More information is available at http://www.mtimicrofuelcells.com/

Statements in this press release which are not historical fact including statements regarding management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include the significance, if any, of the Company's first production shipment of an integrated micro fuel cell product powering a portable electronics device; it's ability to help pave the way for future products, to advance development of manufacturing processes, to energize our supply chain, to increase quality and reliability, to reduce costs or to develop market acceptance; statements regarding our progress in development and commercialization and our ability to be a world leader in micro fuel cells for the global markets in portable electronics. It is important to note that MTI Micro's actual performance and results may differ materially from those in any such forward-looking statements. Factors that could cause actual performance and results to differ materially include, among others, risks related to financing, uncertainties in development, manufacturing, competition and customer demand for DMFCs, and the risk factors listed from time to time in Mechanical Technology Incorporated's SEC reports including but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2003 and Quarterly Reports on Form 10-Q.