MTI Micro signs deal with camera maker

Albany, N.Y.-based MTI MicroFuel Cells announced that it signed a deal with a camera maker to look at putting its fuel cells into digital cameras.

MTI Micro, a unit of Mechanical Technology (Nasdaq: MKTY), did not name the camera company, only identifying the firm as a Japanese developer of digital cameras.

"MTI Micro has now signed agreements with two global OEMs that operate within two of the three largest consumer electronic segments — mobile phones and digital cameras," said Peng Lim, CEO of MTI Micro.

"We are pleased that our Mobion platform may potentially power devices in these two segments. Our goal is to make Mobion a standard power source for powering all types of mobile products."

In 2006, MTI Micro signed a $1 million contract to develop power packs for South Korea's Samsung Electronics.

Earlier this month, MTI Micro unveiled a prototype GPS navigation system powered by an embedded version of its Mobion fuel cell.

Under the company's latest agreement, MTI Micro plans to collaborate with the camera maker to develop its fuel cell technology for use in various precision imaging applications.

MTI Micro said the work under this agreement has already commenced and it expects to deliver prototypes later this month.