MTI Announces New Board Appointments

MTI Announces New Board Appointments

Mechanical Technology, Inc. (MTI), a company primarily engaged in the development and commercialization of Mobion portable power systems through its subsidiary MTI MicroFuel Cells, Inc., recently announced the appointment of William Phelan and Thomas Marusak to the company’s board of directors as new members. MTI said Phelan was also named chairman of the company’s audit committee.

According to MTI, Phelan was a founder and CEO of OneMade, Inc., a company recently sold to American Online (AOL). Additionally, Phelan served as a member of the board of directors of Florists’ Transworld Delivery (FTD), as well as held numerous executive positions at Fleet Equity Partners, Cowen & Company and UHY Advisors, Inc.

MTI noted that Marusak is president of Comfortex Corporation, an internationally recognized manufacturer of window blinds and specialty shades, as well as the current chairman of New York’s Capital Region Center for Economic Growth. Marusak also serves on the board of the New York State Energy Research and Development Authority (NYSERDA) and has represented the interests of small/medium size manufacturing businesses of New York as a delegate at the White House.

“We are privileged to add these outstanding executives to MTI’s board of directors,” said MTI chairman and CEO Steven Fischer. “Both Bill Phelan and Tom Marusak are talented and experienced entrepreneurs who bring extensive financial, technical and operational knowledge and experience. Having developed a number of very successful businesses, both will be important resources as we grow our micro fuel cell and instrumentation operations.”

Contact: George Relan, MTI, phone 518-533-2220, e-mail grelan@mechtech.com.

(EIN STAFF: 12/20)

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