ALBANY, N.Y.–
MTI Instruments, Inc. (“MTII”), a developer in precision measurement solutions and a subsidiary of Mechanical Technology Incorporated (“MTI”) (NASDAQ: MKTY), will unveil the PV1000, a thickness measurement system for the solar cell production industry, at the Photovoltaic Technology Show on April 2, 2008 in Munich, Germany.
“Our PV1000 addresses a critical need for solar cell manufacturers around the world who are now experiencing significant growth and need to manufacture higher quantities of solar cells for mass consumption,” said Peng Lim, CEO of MTI. “Our new PV1000 can be incorporated into solar cell production lines to help them quickly determine quality control issues, saving manufacturers time and money.”
The PV1000 was designed using a flexible platform as part of MTII’s business strategy to create families of products and services and provide complete system solutions for its customers. Using this flexible platform, MTII’s product team used feedback from leading solar cell manufacturers to design the final product.
“We are opening a new market for MTII by bringing our extensive experience in precision measurement to the solar cell industry,” said Robert Kot, Vice President and General Manager of MTII. “By working closely with solar equipment suppliers and cell manufacturers, we designed a system that meets both current and future needs for high speed, precision measurement that can be easily integrated into any solar cell production line. The flexibility of our PV1000 product helps us to quickly adapt to this rapidly evolving sector.”
About MTI Instruments, Inc.
MTII, a subsidiary of Mechanical Technology, Incorporated (NASDAQ: MKTY), headquartered in Albany, NY, designs, manufactures, and sells test and measurement instruments and systems serving primarily the general dimensional gauging instruments, semiconductor, and aviation industries. These products consist of electronic, computerized gauging instruments for position, displacement and vibration applications for the design, manufacturing and test markets, semiconductor products for wafer characterization, and engine balancing and vibration analysis systems for military and commercial aircraft. Mechanical Technology, Incorporated is also engaged in the development and commercialization of its Mobion(R) off-the-grid rechargeable portable power source products through its majority owned subsidiary MTI MicroFuel Cells Inc.
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, among others, MTII’s future business prospects, technology and performance; MTII’s ability to sell PV1000 products in any markets; and the importance of and benefits from launching a product in the solar cell industry. All forward-looking statements are made as of today, and MTI and MTII disclaim any duty to update such statements. It is important to note that MTII’s and MTI’s actual results could differ materially from those projected in forward-looking statements. Factors that could cause the anticipated results not to occur include, among others, the risk factors listed from time to time in MTI’s SEC reports, including, but not limited to, its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Source: MTI Instruments, Inc.
Released April 1, 2008
