Back to Capital Region Happenings

Wednesday, October 24, 2007
The Business Review

MTI partners with Korean company to expand into Asian country

MTI MicroFuel Cells Inc. is expanding its development efforts into Korea .

MTI Micro, a subsidiary of Mechanical Technology Inc. (Nasdaq: MKTY) in Albany , N.Y., is developing fuel cells to power handheld devices such as PDAs and cell phones. The company now has reached an agreement with Daehong Technew Corp., a supplier of materials for semiconductor manufacturers, to act as an MTI Micro representative.

Daehong will be a member of MTI Micro's business development team to promote MTI Micro and make connections for the Albany company. The Korean company will also be seeking potential manufacturers to make MTI Micro's fuel cells.

WanHo Park , Daehong's general manager, will be heading up MTI Micro's Korean initiative. He was formerly a business development manager for Samsung. MTI Micro has a research and development agreement with Samsung.

Mechanical Technology president and CEO Peng Lim said the partnership would help MTI Micro move closer to its customers, the companies that make the handheld devices.

DongKwan Kim, president of Daehong, sees "great opportunities" for MTI Micro's technology in Korea .