Harris Corporation Signs Agreement with MTI MicroFuel Cells to Develop Micro Fuel Cell Prototypes for Tactical Radios

Business Wire, Nov 20, 2002

Business Editors/Technology Writers

ROCHESTER, N.Y.--(BUSINESS WIRE)--Nov. 20, 2002

Harris Corporation (NYSE:HRS), a leading supplier of software-defined tactical radios for worldwide defense forces, and MTI MicroFuel Cells Inc. (MTI Micro), a subsidiary of Mechanical Technology Inc. (Nasdaq:MKTY), today announced an agreement for the development of micro fuel cell system prototypes for potential use in Harris' tactical radios. Under the agreement, Harris will purchase direct methanol fuel cell system prototypes from MTI Micro with delivery from MTI Micro scheduled for early in 2003.

"Today's military radio designs incorporate advanced capabilities like networking and encryption in a very small package," said David Stephenson, vice president, marketing and new business initiatives for Harris, RF Communications Division. "MTI's micro fuel cells represent new power sources that can extend operating time while optimizing performance."

A micro fuel cell is an energy-generating device that creates power through the chemical reaction of a fuel in the presence of a catalyst. MTI's micro fuel cell's small weight and size further reduce the weight a soldier needs to carry onto the battlefield. The cell's methanol fuel can have an energy density of up to 10 times that of current battery technologies and the micro fuel cell can be fueled instantly, eliminating the need to plug in a charger or wait for a lengthy recharge.

"We have always seen our micro fuel cell systems as a strong future power source for military and portable consumer electronics applications," said MTI Micro president and chief executive officer Dr. William Acker. "As part of our micro fuel cell commercialization strategy, our work with Harris will help develop a versatile technology platform capable of addressing a wide range of military needs from accessories to battery replacements."

Harris RF Communications Division is a leading supplier of secure voice and data communications products, systems and networks to military, government, and commercial organizations worldwide.

Harris Corporation is an international communications equipment company focused on providing product, system, and service solutions for commercial and government customers. The company - with five operating divisions and 10,000 employees serves markets for microwave, broadcast, network support, secure tactical radio, and government communications systems. Harris has sales and service facilities in more than 90 countries. Additional information about Harris Corporation is available at http://www.harris.com.

MTI MicroFuel Cells Inc. is a subsidiary of Mechanical Technology, Inc., (Nasdaq:MKTY), which also has a second operating company, MTI Instruments, Inc., which designs and manufactures precision instrumentation. Other companies in which Mechanical Technology owns an interest include: Beacon Power Corporation, which develops flywheel energy storage systems; Plug Power Inc., a leading manufacturer of fuel cells; and SatCon Technology Corporation, which develops power electronics and energy management products. For more information: http://www.mechtech.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected value of the program to Harris are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.