MTI Micro in cash crunch Nov 14, 2009
The revelation was included in a regulatory filing made Thursday with the Securities and Exchange Commission by Mechanical Technology Inc., MTI Micro's parent company ... "If MTI Micro is unable to raise additional financing in the fourth quarter of 2009, it may be required to discontinue its business operations," Mechanical Technology wrote in the filing ... Mechanical Technology has been one of the promising publicly traded tech companies in the area, and its fuel cell, if adopted by the... (Albany Times Union)
MTI reports smaller 3Q net loss Nov 13, 2009
Mechanical Technology has two subsidiaries, and. MTI Instruments designs test instruments and MTI Micro is developing small fuel cells for portable devices such as cell phones and cameras. (Albany Business Review, NY)
* Knowing when to change can keep tech firms alive Aug 14, 2009
But the mechanical technology was well known by the people who were using it, Carl Schlesinger, a former typesetter operator for the New York Times and author of two books on the history of printing, said in a recent interview. The new technology required customers, particularly unionized newspapers, to make huge investments in retraining. (Taipei Times, Taiwan -- World Business)
Astronaut visits GE Global Research center Aug 14, 2009
Mechanical Technology Inc., the Colonie company developing a methanol-powered fuel cell for use in handheld electronics, reduced its second quarter loss from $3. 2 million to $946,000. (Albany Times Union)
Mechanical Technology cuts losses in 2Q Aug 14, 2009
for free extra services. Subscribe to The Business Review. (Albany Business Review, NY)
For MTI, a dose of much-needed relief May 27, 2009
It is a subsidiary of Mechanical Technology Inc. ... "Management currently believes it should have adequate resources to fund its MTI Micro operations into the fourth quarter of 2009," Mechanical Technology said in a filing earlier in the month with the Securities and Exchange Commission ... Mechanical Technology had previously said that it intended to commercialize Mobion and start bringing in sales of the product sometime this year. (Albany Times Union)
MTI CEO Lim made $538K in 08 May 1, 2009
Mechanical Technology had 57 employees as of March 23 ... Mechanical Technology said it has invested $33 million in research and development at MTI Micro during the past three years. (Albany Business Review, NY)
MTI receives delisting letter from Nasdaq Apr 28, 2009
Mechanical Technology, based in Albany, N.Y., said last week that Nasdaq said the company failed to pay certain fees ... Mechanical Technology said it anticipated its common stock will be quoted on Pink Sheets, a centralized quotation service for over-the-counter securities ... Mechanical Technology, which posted a $12. (Albany Business Review, NY)
Greenville board OK’s tentative $26M school budget Apr 18, 2009
Nicholas Heath presented on mechanical technology. Culinary students Brittany Tucker and Liberty Anderson were among those responsible for food preparation and service. (Catskill Daily Mail, NY)
2 firms receive federal funds Apr 17, 2009
MTI Micro, a subsidiary of Mechanical Technology Inc., is on the verge of being able to take the fuel cell, known as Mobion, to the marketplace. But cash flow has been a problem. (Albany Times Union)
CEG tech awards honor Apkarian Apr 16, 2009
Roland Schmidt, himself a local technology luminary who headed both GE Global Research in Niskayuna and Rensselaer Polytechnic Institute in Troy, said Apkarian was responsible for creating what is now known as Tech Valley when he left General Electric Co. in 1961 to co-found Mechanical Technology Inc. Located in Colonie, MTI is developing methanol fuel cells that power handheld electronics. At the time of his death, Apkarian was chief executive of TransTech Systems Inc., a high-tech construction... (Albany Times Union)
MTI to voluntarily delist from Nasdaq Apr 7, 2009
Mechanical Technology reported a net loss of $12 ... For the second year in a row, , Mechanical Technology s auditor, expressed doubts about the company s ability to continue operating as a going concern ... Mechanical Technology (Nasdaq: MKTY) had 57 employees as of March 23. (Albany Business Review, NY)
MTI fuel cell unit faces cash crunch Apr 1, 2009
COLONIE Mechanical Technology Inc. posted a $12 ... But Mechanical Technology has put large bets on making its fuel cell division, which employs 25 people in Colonie, a success ... However, in its annual report, Mechanical Technology says that if it does not get external funding for its fuel cell by April, it may have to curtail fuel cell work or sell the business. (Albany Times Union)
MTI founder, long-time entrepreneur Harry Apkarian dies at 87 Mar 5, 2009
Apkarian was a co-founder of Mechanical Technology Inc. (Nasdaq: MKTY), formed in 1961 as a spinoff ... Besides Mechanical Technology, which he co-founded 41 years ago, he counseled the founders of two other high-profile companies long before they went public--, now Pitney Bowes MapInfo, the region s largest software developer, and (Nasdaq: PLUG), a fuel-cell developer in Latham. (Albany Business Review, NY)
In tough times, money a vote of confidence Feb 28, 2009
MTI Micro's parent, Mechanical Technology Inc., has decided to stop funding the company. Robb is a director on the parent's board. (Albany Times Union)
Business briefs Feb 27, 2009
Robb, a board member of Mechanical Technology Inc., the Colonie company that owns the developer of fuel cells for hand-held devices, had previously been part of an investor group that gave the company $2. 2 million to keep its operations funded. (Albany Times Union)
