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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 19, 2000
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Mechanical Technology Incorporated
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation or organization)
0-6890 14-1462255
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(Commission File Number) (I.R.S. Employer Identification No.)
30 South Pearl Street, Albany, New York 12207
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 433-2170
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Item 5. Other Events.
Below is a press release issued by Mechanical Technology, Inc. on
June 16, 2000, announcing that Dr. William Acker had been named President
and Chief Technology Officer.
For Immediate Release Contacts:
Date: June 16, 2000 Judith A. Barnes, Ph.D.
Vice President/Chief Marketing Officer
Mechanical Technology, Inc.
Telephone (518) 433-2170
MECHANICAL TECHNOLOGY NAMES PRESIDENT
ALBANY, N.Y. -- Mechanical Technology, Inc. (NASDAQ: MKTY) announced today
that Dr. William Acker had been named President and Chief Technology Officer.
"I am extremely excited about joining Mechanical Technology, a company
positioned to revolutionize the alternative energy sector," said Dr. Acker. "
Joining MTI also gives me the opportunity to remain associated with Plug
Power, a leader in fuel cell technology and a company in which I have both
great confidence and great colleagues."
Prior to joining MTI, Dr. Acker spent almost three years as Vice President
of Technology and Product Development at Plug Power, Inc. (NASDAQ: PLUG), a
leader in the design and development of residential fuel cells and a company
founded as a joint venture of MTI and DTE Energy (NYSE: DTE).
"While at Plug Power, Dr. Acker helped develop a laboratory concept into a
viable commercial fuel cell prototype system and was a member of the leadership
team that has grown Plug Power from a small start-up to the company we are
today," said Plug Power President and CEO Gary Mittleman.
"Bill is the perfect person to further strengthen Mechanical Technology's
position in the field of alternative energy, where we've been called `the
power behind new energy'," said George McNamee, Chairman and CEO of Mechanical
Technology. "Bill has the vision, the expertise and the experience to help us
make even greater progress in our mission of incubating new energy
technologies and companies."
Before his tenure at Plug Power, Dr. Acker served as Global Manager for
Engineering and Product Testing at Texaco, where he was responsible for the
development of energy products and was involved in the formation of the
company's strategic business direction.
Dr. Acker received a B.S. in Physics from Rensselaer Polytechnic Institute as
well as an M.S., M.Phil., and a Ph.D. in Applied Physics and Engineering from
Yale University.
In addition to its holdings in Plug Power, Mechanical Technology has holdings
in SatCon Technology Corporation (NASDAQ: SATC), which manufactures and sells
power and energy management systems, and Beacon Power Corporation, which
designs and develops flywheel energy storage systems. Mechanical Technology
is also the sole shareholder of MTI Instruments, a manufacturer in the field
of precision diagnostic and sensing instruments.
Statements made in this document that are not historical facts or which apply
prospectively are forward-looking statements that involve risks and
uncertainties. It is important to note that the Company's actual
circumstances could differ materially from those implied by such forward-
looking statements. Additional information concerning factors that could
cause actual results to differ materially from those in the forward looking
statements is contained from time to time in the Company's SEC filings,
including but not limited to the 10-K and 10-Q. Copies of those filings
are available from the Company and the SEC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MECHANICAL TECHNOLOGY INCORPORATED
Date: June 19, 2000 By: /s/ Cynthia A. Scheuer
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Cynthia A. Scheuer
Vice President/Chief Financial Officer
