Soluna Holdings Inc (SLNH)

[Rudy Gobert]

$MKTY

This one could break out even more in 2021.

I like the financials here

[AskMuncher]

$MKTY Mechanical Technology, Incorporated Releases a Letter to Stockholders, as EcoChain Prepares for Growth of its Cryptocurrency Business Unit
Press Release | 12/23/2020
Mechanical Technology, Incorporated Releases a Letter to Stockholders, as EcoChain Prepares for Growth of its Cryptocurrency Business Unit
PR Newswire

ALBANY, N.Y., Dec. 23, 2020

ALBANY, N.Y., Dec. 23, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, today released a letter from CEO Michael Toporek, detailing the growth plans for the EcoChain business unit.

MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)

Dear Fellow Stockholders:

This has been a dynamic and unprecedented year for our company. As we conclude 2020 and look forward to 2021, I wanted to take an opportunity to share with you some thoughts about our company and its future plans.

During 2020, in spite of the challenges that we and other companies of all sizes faced, we had some significant accomplishments:

We achieved strong results in our instruments business in the face of a COIVD-19 challenged environment
We restructured our management
We re-evaluated and refocused our business to use our historical core competencies to take advantage of new business opportunities in new market segments
We resumed our filing obligations as a public company
We positioned ourselves for 2021 in a post-COVID-19 world
I would like to take this opportunity to share with you some details about our EchoChain business. As we move into 2021, I'm particularly (albeit guardedly) optimistic about our EcoChain business. We have spent the better part of 2020 making sure that EcoChain is committed to disciplined, capital allocation that targets a 15% to 25% after tax return on capital invested in each facility.

To that end, the Company is targeting at least 50MW operating or under contract by the end of 2021. Of course, there are no guarantees, but because we have been disciplined throughout 2020, we believe that we are well positioned to achieve these objectives using rigorous tried and true operating disciplines.

Our immediate objectives for early 2021 are to secure a 5MW facility that will enable us to expand our footprint at the site if we are able to execute within the next several months. This site will allow us to be up and running in the first quarter as we have already begun to procure equipment for the facility. Additional space can be up to 50MW and we currently believe that we have the ability to make that operational quickly. Once we are established and the facility is ours, we will be in a position to integrate those details into a formal business plan for 2021.

Beyond this immediate opportunity, we are developing a 25MW project that we expect will have a price per kw of less than $0.025. It is a greenfield project that will be based in the USA and help create additional jobs here. We are in the process of acquiring the land and negotiating a PPA. Our goal is to have this opportunity finalized in the first quarter of 2021. In anticipation of this we have been working with our consultants to design buildings and prepare for construction of a world class computing facility that will be amongst the lowest cost, capital efficient in the world.

With these developments, we expect 2021 will be a truly transformative year for the Company. In January we expect to deliver to shareholders a more detailed strategic vision for the EcoChain business as well as set some expectations on how we will build out the enterprise in a capital efficient fashion. We also expect to more continuously communicate with shareholders our progress on operating milestones as we achieve them.

Although the focus of this letter has mostly been the EcoChain business, I expect to highlight developments in the instruments business in the first quarter. Our big theme in this leading business is velocity. We will increase the velocity of new product introductions and upgrades for our customers. This will drive market share gains in our leading high margin businesses.

On behalf of our board and all of our employees, we thank you for your support in 2020 and we look forward to a dynamic 2021.

Sincerely,

Michael Toporek

Chief Executive Officer

______________________________________________________________________

About MTI

MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing a cryptocurrency mining facilities powered by renewable energy that integrate with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.

Forward-Looking Statements for Mechanical Technology, Incorporated:

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

________________________________________________________________________

Please visit https://www.mechtech.com under News & Events.

Contact Information:
Lisa Brennan
518-218-2592
[e-mail]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mechanical-technology-incorporated-releases-a-letter-to-stockholders-as-ecochain-prepares-for-growth-of-its-cryptocurrency-business-unit-301198296.html

SOURCE Mechanical Technology, Incorporated

[AskMuncher]

$MKTY Mechanical Technology, Incorporated Releases a Letter to Stockholders, as EcoChain Prepares for Growth of its Cryptocurrency Business Unit
Press Release | 12/23/2020
Mechanical Technology, Incorporated Releases a Letter to Stockholders, as EcoChain Prepares for Growth of its Cryptocurrency Business Unit
PR Newswire

ALBANY, N.Y., Dec. 23, 2020

ALBANY, N.Y., Dec. 23, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, today released a letter from CEO Michael Toporek, detailing the growth plans for the EcoChain business unit.

MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)

Dear Fellow Stockholders:

This has been a dynamic and unprecedented year for our company. As we conclude 2020 and look forward to 2021, I wanted to take an opportunity to share with you some thoughts about our company and its future plans.

During 2020, in spite of the challenges that we and other companies of all sizes faced, we had some significant accomplishments:

We achieved strong results in our instruments business in the face of a COIVD-19 challenged environment
We restructured our management
We re-evaluated and refocused our business to use our historical core competencies to take advantage of new business opportunities in new market segments
We resumed our filing obligations as a public company
We positioned ourselves for 2021 in a post-COVID-19 world
I would like to take this opportunity to share with you some details about our EchoChain business. As we move into 2021, I'm particularly (albeit guardedly) optimistic about our EcoChain business. We have spent the better part of 2020 making sure that EcoChain is committed to disciplined, capital allocation that targets a 15% to 25% after tax return on capital invested in each facility.

To that end, the Company is targeting at least 50MW operating or under contract by the end of 2021. Of course, there are no guarantees, but because we have been disciplined throughout 2020, we believe that we are well positioned to achieve these objectives using rigorous tried and true operating disciplines.

Our immediate objectives for early 2021 are to secure a 5MW facility that will enable us to expand our footprint at the site if we are able to execute within the next several months. This site will allow us to be up and running in the first quarter as we have already begun to procure equipment for the facility. Additional space can be up to 50MW and we currently believe that we have the ability to make that operational quickly. Once we are established and the facility is ours, we will be in a position to integrate those details into a formal business plan for 2021.

Beyond this immediate opportunity, we are developing a 25MW project that we expect will have a price per kw of less than $0.025. It is a greenfield project that will be based in the USA and help create additional jobs here. We are in the process of acquiring the land and negotiating a PPA. Our goal is to have this opportunity finalized in the first quarter of 2021. In anticipation of this we have been working with our consultants to design buildings and prepare for construction of a world class computing facility that will be amongst the lowest cost, capital efficient in the world.

With these developments, we expect 2021 will be a truly transformative year for the Company. In January we expect to deliver to shareholders a more detailed strategic vision for the EcoChain business as well as set some expectations on how we will build out the enterprise in a capital efficient fashion. We also expect to more continuously communicate with shareholders our progress on operating milestones as we achieve them.

Although the focus of this letter has mostly been the EcoChain business, I expect to highlight developments in the instruments business in the first quarter. Our big theme in this leading business is velocity. We will increase the velocity of new product introductions and upgrades for our customers. This will drive market share gains in our leading high margin businesses.

On behalf of our board and all of our employees, we thank you for your support in 2020 and we look forward to a dynamic 2021.

Sincerely,

Michael Toporek

Chief Executive Officer

______________________________________________________________________

About MTI

MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing a cryptocurrency mining facilities powered by renewable energy that integrate with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.

Forward-Looking Statements for Mechanical Technology, Incorporated:

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

________________________________________________________________________

Please visit https://www.mechtech.com under News & Events.

Contact Information:
Lisa Brennan
518-218-2592
[e-mail]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mechanical-technology-incorporated-releases-a-letter-to-stockholders-as-ecochain-prepares-for-growth-of-its-cryptocurrency-business-unit-301198296.html

SOURCE Mechanical Technology, Incorporated

[meltup]

MKTY subsidiary EcoCHAIN is developing CRYPTOCURRENCY MINING facilities powered by RENEWABLE ENERGY that integrates with the BITCOIN BLOCKCHAIN NETWORK.....MKTY has a TINY FLOAT

[meltup]

MKTY---A CRYPTO CLEAN ENERGY PLAY with a TINY FLOAT..

[Laster]

Wow is this beauty thin.
Unreal.

[AskMuncher]

$MKTY
Mechanical Technology, Incorporated Announces Third Quarter 2020 Financial Results
Press Release | 11/12/2020
Mechanical Technology, Incorporated Announces Third Quarter 2020 Financial Results
PR Newswire

ALBANY, N.Y., Nov. 12, 2020

ALBANY, N.Y., Nov. 12, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced its second quarter financial results for 2020. Please visit https://www.mechtech.com under News.

MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)

For the third quarter 2020, net income was $1.5 million, bringing the year to date total net income to $1.97 million which represents a year over year increase of 352% year to date.

The financial performance is a result of the MTI Instrument subsidiary successfully delivering on the United States Air Force historic contract. The aforementioned increase in revenue combined with an improvement in product margin of 378 basis has contributed to the improvement in operating income.

MTI subsidiary EcoChain, Inc., has successfully ramped up capacity and is trending favorably, revenues were $176k for the current quarter, an increase of 252% over the prior quarter. EcoChain, Inc. is continuing to invest in mining purchases to reach facility capacity, estimated to be in November 2020.

About MTI
MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing cryptocurrency mining facilities powered by renewable energy that integrate with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.

Statements in this press release that are not historical fact and in particular, with respect to future growth opportunities and continued investments in innovation, constitute forward-looking statements involving risks, uncertainties, estimates, and assumptions that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such forward-looking statements are made as of today, and MTI disclaims any duty to update such statements. Factors that could cause anticipated results not to occur include, but are not limited to: general economic conditions and the uncertainty of the U.S. and global economy, particularly in light of the COVID-19 pandemic; our inability to develop and utilize new technologies that address the needs of our customers and otherwise keep pace with technological developments; the loss of services of one or more of our key employees or the inability to hire, train, and retain key personnel; the dependence of our business on a small number of customers and potential loss of government contracts; our inability to build and maintain relationships with our customers; and changes in national and global economic or other conditions that impact demand for our products and/or accelerated purchases of our products by our customers due to changes in their business needs.

For more information about the Company, please visit https://www.mechtech.com.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mechanical-technology-incorporated-announces-third-quarter-2020-financial-results-301172008.html

SOURCE Mechanical Technology, Incorporated

[AskMuncher]

$MKTY Mechanical Technology, Incorporated Announces Appointment of CEO
Press Release | 11/05/2020
Mechanical Technology, Incorporated Announces Appointment of CEO
PR Newswire

ALBANY, N.Y., Nov. 5, 2020

ALBANY, N.Y., Nov. 5, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, today announced that its Board of Directors has named Michael Toporek, an accomplished business builder and investor, as Chief Executive Officer of the Company, effective November 2, 2020. Mr. Toporek has been a board member of MTI since 2016.

MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)

As MTI's new Chief Executive Officer his top priority will be to lead the transformation of MTI into an emerging growth company focused on renewable energy infrastructure. MTI's sensors are in GE wind turbines, its instruments are being incorporated into manufacturing next generation electric vehicle batteries and through EcoChain, Inc. ("EcoChain"), MTI data centers will continue to be 100% powered by renewable energy and help utilities manage the power grid.

Toporek said, "We are fortunate to have a great instruments business that is intensely focused on its customers' needs. It's our job to expand the market opportunities for our instruments business in a responsible, capital efficient way. One of the most promising segments is the Electric Vehicle (EV) market."

Toporek added, "Another area we expect to scale up significantly is our EcoChain business. After successfully implementing a pilot project to mine cryptocurrencies in Washington State, I plan to spend a significant portion of my time and energy growing EcoChain into one of the premier publicly held cryptocurrency mining companies 100% powered by renewable energy with a strong focus on capital efficiency and disciplined rate of return requirements."

David Michaels, Chairman of the Board, commented, "We are fortunate to have an executive with Michael's significant leadership and financial skills leading MTI as we transform MTI into a growth company. I look forward to working closely with Michael as we implement the Company's growth strategy".

Moshe Binyamin, President of MTI's Instruments business, MTI Instruments, Inc., said, "Michael and I have worked together since I joined the Company in August of 2019. His support and enthusiasm for our business is appreciated as we focus on meeting our customer needs and growing our addressable market."

About Michael Toporek
Mr. Toporek founded Brookstone Partners in 2003 and focuses on managing the firm, originating transactions and actively working with portfolio companies on organizational transformation, market expansion and strengthening operations.1 Michael has particular strength working with entrepreneurial management teams to build companies and helping to execute their strategic vision. He serves on the board of a number of Brookstone portfolio companies.

Prior to Brookstone, Mr. Toporek worked extensively with Fortune 100 companies to formulate and execute complex merger, acquisition and financing strategies in diversified sectors such as manufacturing, building products, medical and analytical instruments, environmental services, technology and transportation/logistics. He has also structured innovative debt, equity and equity-linked financing in the U.S. and European capital markets. Mr. Toporek began his career in Chemical Bank's Investment Banking Group, later joined Dillon Read, which became UBS Warburg during his tenure, and SG Cowen.

About MTI
MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing cryptocurrency mining facilities powered by renewable energy that integrate with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.

Statements in this press release that are not historical fact and in particular, with respect to future growth opportunities and continued investments in innovation, constitute forward-looking statements involving risks, uncertainties, estimates, and assumptions that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such forward-looking statements are made as of today, and MTI disclaims any duty to update such statements. Factors that could cause anticipated results not to occur include, but are not limited to: general economic conditions and the uncertainty of the U.S. and global economy, particularly in light of the COVID-19 pandemic; our inability to develop and utilize new technologies that address the needs of our customers and otherwise keep pace with technological developments; the loss of services of one or more of our key employees or the inability to hire, train, and retain key personnel; the dependence of our business on a small number of customers and potential loss of government contracts; our inability to build and maintain relationships with our customers; and changes in national and global economic or other conditions that impact demand for our products and/or accelerated purchases of our products by our customers due to changes in their business needs.

Please visit https://www.mechtech.com under News & Events.

Contact Information:
Lisa Brennan
518-218-2592
[e-mail]

[Laster]

Beautiful chart but why?

David

[AskMuncher]

$MKTY Mechanical Technology Incorporated Announces Second Quarter 2020 Financial Results
Press Release | 07/30/2020
Mechanical Technology Incorporated Announces Second Quarter 2020 Financial Results
PR Newswire

ALBANY, N.Y., July 30, 2020

ALBANY, N.Y., July 30, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced its second quarter financial results for 2020. Please visit https://www.mechtech.com under News & Events.

MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)

About MTI

MTI is engaged in the design, manufacture, and sale of test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. and is developing renewable-energy powered cryptocurrency mining operations through its newest subsidiary EcoChain, Inc.

For more information about the Company, please visit https://www.mechtech.com.

[whytestocks]

News: $MKTY Mechanical Technology Incorporated Announces Second Quarter 2020 Financial Results

ALBANY, N.Y. , July 30, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York , announced its second quarter financial results for 2020. Please visit https://www.mechtech.com ...

Find out more MKTY - Mechanical Technology Incorporated Announces Second Quarter 2020 Financial Results

[AskMuncher]

$MKTY Mechanical Technology Incorporated Announces Appointment of CFO
Press Release | 07/01/2020
Mechanical Technology Incorporated Announces Appointment of CFO
PR Newswire

ALBANY, N.Y., July 1, 2020

ALBANY, N.Y., July 1, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced the appointment of Jessica Thomas as Chief Financial Officer of the Company, effective July 1, 2020. Rick Jones, who had served as the Company's CFO since 2009, will continue in his current role as President and Chief Executive Officer of MTI.

MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)

Please visit https://www.mechtech.com under News & Events.

About MTI
MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing a pilot cryptocurrency mining facility powered by renewable energy that integrates with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.

Contact Information:
Lisa Brennan
518-218-2592
[e-mail]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mechanical-technology-incorporated-announces-appointment-of-cfo-301086149.html

SOURCE Mechanical Technology, Incorporated

[AskMuncher]

$MKTY Soluna Begins Operations of New Pilot Data Center in Washington State
Press Release | 06/18/2020
Soluna Technologies, Ltd. (”Soluna”), a developer of vertically-integrated, utility-scale projects powered by renewable energy, announces the commencement of its operation of a new 3 MW pilot cryptocurrency mining facility and ongoing research and development (R&D) in the town of Wenatchee, Washington near the Columbia River.

Soluna -- best known for its 900 MW vertically-integrated wind and dispatchable compute project in Morocco -- will operate the site on behalf of EcoChain, Inc. (“EcoChain”), a subsidiary of Mechanical Technology, Inc. (“MTI”) (OTC Pink: MKTY).

Soluna will engage in design laboratory activities to help plan the demand-response data centers Soluna will utilize in Dakhla, Morocco, and beyond. The new data center will allow Soluna to carry out research as it operates the pilot mine. Powered by 100% hydroelectric power, the new data center will undergo several upgrades to support Soluna’s R&D plans.

“We are excited about the launch of our partnership with MTI which accelerates the blueprint for Soluna’s global renewable energy business,” said John Belizaire, CEO of Soluna. “Soluna’s operation of the new facilities in Washington State benefit from ample renewable energy, access to a strong pool of local talent, and a demonstrated commitment to excellence. We believe that integrating demand-response computing with green power plants represents a step-change improvement in the future of renewables.”

About Soluna

Founded in 2018, Soluna develops vertically-integrated, utility-scale projects that combine its own renewable energy power plants with dispatchable computing facilities focused on cryptocurrency mining and cutting-edge blockchain applications. Soluna’s flagship project, Harmattan, is a 900 MW wind site located in Morocco. The record-breaking productivity of the site brings a clean, low-cost, sustainable infrastructure layer to the blockchain.

Led by a world-class team of technologists and renewable energy experts, Soluna’s mission is to better the world by making renewable energy the primary power source using computing as a catalyst.

Soluna is headquartered in New York City, with offices in Morocco.

[AskMuncher]

$MKTY Soluna Begins Operations of New Pilot Data Center in Washington State
Press Release | 06/18/2020
Soluna Technologies, Ltd. (”Soluna”), a developer of vertically-integrated, utility-scale projects powered by renewable energy, announces the commencement of its operation of a new 3 MW pilot cryptocurrency mining facility and ongoing research and development (R&D) in the town of Wenatchee, Washington near the Columbia River.

Soluna -- best known for its 900 MW vertically-integrated wind and dispatchable compute project in Morocco -- will operate the site on behalf of EcoChain, Inc. (“EcoChain”), a subsidiary of Mechanical Technology, Inc. (“MTI”) (OTC Pink: MKTY).

Soluna will engage in design laboratory activities to help plan the demand-response data centers Soluna will utilize in Dakhla, Morocco, and beyond. The new data center will allow Soluna to carry out research as it operates the pilot mine. Powered by 100% hydroelectric power, the new data center will undergo several upgrades to support Soluna’s R&D plans.

“We are excited about the launch of our partnership with MTI which accelerates the blueprint for Soluna’s global renewable energy business,” said John Belizaire, CEO of Soluna. “Soluna’s operation of the new facilities in Washington State benefit from ample renewable energy, access to a strong pool of local talent, and a demonstrated commitment to excellence. We believe that integrating demand-response computing with green power plants represents a step-change improvement in the future of renewables.”

About Soluna

Founded in 2018, Soluna develops vertically-integrated, utility-scale projects that combine its own renewable energy power plants with dispatchable computing facilities focused on cryptocurrency mining and cutting-edge blockchain applications. Soluna’s flagship project, Harmattan, is a 900 MW wind site located in Morocco. The record-breaking productivity of the site brings a clean, low-cost, sustainable infrastructure layer to the blockchain.

Led by a world-class team of technologists and renewable energy experts, Soluna’s mission is to better the world by making renewable energy the primary power source using computing as a catalyst.

Soluna is headquartered in New York City, with offices in Morocco.

[HokieHead]

Brookstone owns major portion of MKTY, Brookstone owns major portion of Soluna:

https://www.bloomberg.com/news/articles/2018-07-27/bitcoin-mining-private-equity-build-wind-farm-in-morocco

New company created in Delaware EcoChain going to be big imo. I am guessing on CC we may hear MTI and Soluna are going to be rolled up and made one publicly trading company called EcoChain.

DD it, will be a monster from this level imo.

[HokieHead]

Brookstone's $2.7 million investment:

Mechanical Technology Secures $2.74 Million Investment from Brookstone Partners to Support Future Growth

Brookstone Partners (www.brookstonepartners.com), a private equity firm in New York City, has, through Brookstone Partners Acquisition XXIV, LLC (Brookstone), acquired 3.75 million newly issued shares of common stock of MTI for $2.74 million. Following this investment, MTI intends to continue to focus on the current growth strategy in the analytical measurement market with sensors, instruments and systems. This new investment has allowed MTI’s balance sheet to improve and provides MTI with additional capital for, among other things, key strategic activities. We believe that, in turn, this will facilitate an accelerated use of the approximate $51.0 million in unused Federal net operating loss carryforwards (NOLs) incurred by MTI during the microfuel cell development period to offset future taxable income

Still own 3.75 million shares at $0.72 a share.

$51 million in NOLs = $5+ a share ($51m NOL / 9.5m OS = $5.36 a share)

https://www.businesswire.com/news/home/20161024005111/en/Mechanical-Technology-Secures-2.74-Million-Investment-Brookstone

Looking forward to CC next week.

[HokieHead]

Billionaires investment in solar and wind energy bitcoin mining already worth $200 million.

San Francisco-based Layer1 announced it has raised $50 million from billionaire Peter Thiel and others to move forward with its plan, which includes running its own power sub-station and purchasing solar and wind energy produced on the plains of West Texas.

https://fortune.com/2019/10/15/what-is-bitcoin-mining-layer1-peter-thiel-crypto-investment/

Soluna will make MKTY's energy costs basically non existent:

https://cdn2.hubspot.net/hubfs/4760284/Solunafinal.pdf

[HokieHead]

Establishment of New Business Line and Strategic Investment related to Blockchain and Cryptocurrency

January 17, 2020
OTC Disclosure & News Service

Mechanical Technology, Incorporated

Announces Establishment of New Business Line and Strategic Investment related to Blockchain and Cryptocurrency

ALBANY, N.Y. (PRWEB), January 17, 2020 Mechanical Technology, Incorporated (MTI or the Company) (OTC Pink: MKTY), a leading provider of test and measurement instruments, announced the formation of a new wholly-owned subsidiary named EcoChain and its entry into the cryptocurrency and blockchain ecosystem.

The Company is forming a new business line focusing on cryptocurrency mining and in connection with that has entered into a long-term strategic relationship with Soluna Technologies, Ltd. (Soluna), a company focused on powering the blockchain economy with clean, low-cost renewable energy. Soluna develops vertically integrated, utility-scale computing facilities focused on cryptocurrency mining and cutting-edge blockchain applications.

MTIs EcoChain will join Soluna and a growing group of startups, including Hut8, Bitfarm, and Peter-Thiel-backed Layer 1, developing utility-scale computing infrastructure for the blockchain, powered by renewable energy.

Summary of MTIs Strategic Relationship with Soluna

MTI has made a strategic investment in Soluna and formed EcoChain as a wholly-owned subsidiary to own and operate MTIs renewable-energy powered cryptocurrency mining operations. Soluna will construct and operate EcoChains facilities. MTI will also have the ability to elect to make additional equity investments in Soluna and its projects on a go-forward basis.

In addition, William P. Phelan, a member of the MTI Board of Directors, will join Solunas Board of Directors.

Our establishment of the EcoChain subsidiary and our partnership with Soluna mark an exciting return to our long history of renewable energy-related innovations, and our entry into the next big thing blockchain computing, said Tom Marusak, a Director of MTI whose involvement with MTI ties back to energy and engine work as a company engineer during the 1970s.

More information about the transactions and material agreements underlying the strategic partnership and strategic investment can be found under the News and Events tab on MTIs website at www.mechtech.com.

Additional Conference Call

In conjunction with this announcement, MTI will host a conference call with MTIs management and certain members of its Board of Directors at 11:30 AM ET on Thursday, January 30, 2020 (conference call details will be posted next week on MTIs website).

About MTI

MTI is engaged in the design, manufacture, and sale of test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. and today enters the cryptocurrency and blockchain economy through its newest subsidiary EcoChain Inc.

[HokieHead]

MKTY Details:

PPS: $0.85
OS: 9.5m
Float: 5.3m
Market Cap: $8m

-No debt
-$7m in ttm revenues
-$2.7m cash ($0.28 a share)
-Is 45% owned by insiders of which 40% is owned by Brookstone Partners, which happens to be an equity holder in Soluna Technologies as well. They only invest in companies doing $2.5m minimum in EBITDA. That’s bottom line, not sales..

[HokieHead]

Soluna Technologies impressive.

https://soluna.io/

[HokieHead]

Interesting that MTI spun off Plug Power, which is now a $1.1 billion company.

https://www.bizjournals.com/albany/stories/1999/09/06/story6.html?page=all

[HokieHead]

Took 2,500 here at $0.85. Nice news Friday. MKTY recently formed a new Delaware company, new business combo of MTI and Soluna Technologies, called EcoChain Inc, could have some huge upside.

PPS: $0.85
OS: 9.5m
Float: 5.3m
Market Cap: $8m

MKTY has no debt, $7m in ttm revenues, $2.7m cash ($0.28 a share), is 45% owned by insiders of which 40% is owned by Brookstone Partners, which happens to be an equity holder in Soluna Technologies as well. They only invest in companies doing $2.5m minimum in EBITDA. That’s bottom line, not sales..

http://www.brookstonepartners.com

Brookstone made a $2.7m investment for their 3.75m shares a few years ago and still hold them, so investment price is $0.72 a share, not much under current PPS. I think they are ready to start to see a ROI here, the investment PR stated it was to be able to make use of MTIs $51m in NOLs, which is well over $5 a share in NOLs.

The Company is forming a new business line focusing on cryptocurrency mining and in connection with that has entered into a long-term strategic relationship with Soluna Technologies, Ltd. (Soluna), a company focused on powering the blockchain economy with clean, low-cost renewable energy. Soluna develops vertically integrated, utility-scale computing facilities focused on cryptocurrency mining and cutting-edge blockchain applications.

MTIs EcoChain will join Soluna and a growing group of startups, including Hut8, Bitfarm, and Peter-Thiel-backed Layer 1, developing utility-scale computing infrastructure for the blockchain, powered by renewable energy.

Hut8: OTCQX $118m valuation
Bitfarm: OTC Pink: $45m valuation
Layer 1: Private but said to be worth $200m

https://www.google.com/amp/s/fortune.com/2019/10/15/what-is-bitcoin-mining-layer1-peter-thiel-crypto-investment/amp/

Soluna has created one of the worlds biggest renewable energy Blockchain facilities, they basically make the energy cost of mining non existent creating a more profitable company. Owned energy makes energy price fluctuations not matter.

https://cdn2.hubspot.net/hubfs/4760284/Solunafinal.pdf

https://www.businesswire.com/news/home/20180727005498/en/Soluna-Launching-World’s-Utility-Scale-Blockchain-Infrastructure-Company

https://soluna.io

Brookstone may be on to something here, looks to me a combo of MTI’s ticker and products along with Soluna’s renewable energy capabilities and Blockchain infrastructure could make MKTY very undervalued here.

CC on the 30th, should be interesting:

In conjunction with this announcement, MTI will host a conference call with MTIs management and certain members of its Board of Directors at 11:30 AM ET on Thursday, January 30, 2020 (conference call details will be posted next week on MTIs website).


https://www.otcmarkets.com/stock/MKTY/news/Establishment-of-New-Business-Line-and-Strategic-Investment-related-to-Blockchain-and-Cryptocurrency?id=251580

https://backend.otcmarkets.com/otcapi/company/financial-report/238618/content

[Run do not walk]

so what, what's that 10 grand? I'd rather hear about something good regarding sales or new contracts!

[Cooperpee]

CEO and Marusak just bought 10,000 more each...maybe I should be buying more.

[Lucror]

CEO continues his buying. Extremely bullish indicator.

http://www.sec.gov/Archives/edgar/data/64463/000100329713000372/xslF345X03/lynch.xml

[timorr]

Vio1ist - pop on over to the " how to find big stocks " board on Ihub . You can talk about any stock there not on the pumpanddump list. Van hangs out there.

[Vio1ist]

Hello,

I have subscribed to your service last week and i have been digging in both MKTY and BKYI, and i think we might see some boost in BKYI after 10th of September(announcement of new iPhone according to AllThingsD) and also boost in MKTY in a while, since cars with batteries and smartphones and drones need longer lasting batteries :) i just wondered if what are your targets/goals in BKYI?

Thanks.

[einstock]

MTI's improved standing drawing investors.


Mechanical Technology Inc., which has been concentrating on its instrumentation business under a new CEO, turned a profit in the first half of 2013.

The Albany, NY company makes test and measurement instruments used mainly by the aerospace and semiconductor industries. A separate division, called MTI Microfuel Cells, was idled at the end of 2011, after spending more than a decade trying to commercialize a fuel cell for mobile devices.

In a filing with the U.S. Securities and Exchange Commission, MTI (Nasdaq: MKTY) reported net income of $186,000, or 4 cents a share, for the first half of 2013. This compares to a net loss of $1.4 million, or 26 cents a share, in the first half of 2012. Product revenue was $4.5 million, up from $2.5 million a year earlier.

In the past 16 years, MTI had one profitable year, in 2011.

Investors appear to be taking notice of the changes in the company. Since Kevin Lynch became CEO, in early May, the company’s stock has risen from about 50 cents a share—putting it out of compliance with Nasdaq listing standards—to its Aug. 8 closing prices of $1.35. The company now has a market capitalization of about $7 million.



http://www.bizjournals.com/albany/news/2013/08/09/mtis-improved-standing-drawing.html

[einstock]

Please refer to August Issue of HTFBSN for our thoughts on their Mobion Chip technology.
This month (Sept Issue)we analyze this very disruptive tech.

[JayDan]

Hi van, from the last business update of mkty : MTI will continue to pursue opportunities to exploit the potential in our investment in MTI MicroFuel Cells’ (MTI Micro) Mobion advance vapor direct methanol fuel cells technology, for as long as MTI Micro can sustain its effort.

...sounds a little bit pessimistic to me , am i wrong ? What do you think? Regards from germany

[TTommy]

Thank-you for the prompt response Van

[einstock]

Not to worry.

In the HTFBSN last month, we outlined what we think is happening on the Mobion side.

This month we hope to have an interview with the MKTY CEO AND a very nice piece on the Mobion Chip. We analyze the technology and tell you what their competitive advantage(s) are.

[TTommy]

From MKTY's recent 10Q MD&A

Although MTI Micro continues to believe in the potential of its Mobion® based power solutions, operations have been suspended since late 2011 at MTI Micro until such time as market demand and other deciding factors, including obtaining additional external financing, the successful completion of customer trials, a new development program with a government agency, and/or a customer order come to fruition. MTI Micro will continue to seek additional capital from external sources to resume operations and fund future development, as warranted. If MTI Micro is unable to secure additional financing, a new development program or customer order, the MTI Micro board of directors will assess other options for MTI Micro, including the sale of its intellectual property portfolio and/or remaining assets.

Maybe Van can explain the suspension of the DFMC technology per the 10Q dated 30 June??

[timorr]

http://archive.fast-edgar.com/20130808/Aaba6-9nadYt-j-8xa6V-ndr-v1Fq-z/
good numbers out .

[Latinachica]

Marked

[sports guy]

Louisa please check up on ac board

[louisa]

Thx, got it now. BTW with recent buying here by insiders this from MarketWatch hit home with me.

Studies show that stocks bought by insiders slightly outperform the S&P 500 on average (read our analysis of studies on insider trading). We think that this is because insiders would normally prefer to diversify their wealth; when they instead choose to increase their company-specific risk by buying more shares, chances are that this should be because they are particularly confident in the stock. Because of the small level of outperformance, investors can treat insider purchases similarly to a stock screen and perform further research on any names which seem interesting after a brief look at the company.

MKTY not mentioned but above adds to impression of company's future.

http://www.marketwatch.com/story/insiders-love-these-5-out-of-favor-stocks-2013-08-01?link=sfmw

[timorr]

big move at the end of the day.

[Justfactsmam]

Yes...with more to come...IMHO

It is obvious that with all that "competitive" technology...Boeing, Northrop-Grumman, General Atomic, have yet to settle on a fuel cell technology fit for their drones...or alternatives to lithium batteries...

Which leaves the prospect of the Mobion being in consideration and R&D by end users... Don't need MKTY to be funding anything...often times end user does.

[timorr]

Great info on MKTY in the aug. issue of how too find big stocks newsletter. I'm still up over 100 % on this stock and not going anywhere. To each their own . I read all posts and have no argument with anyone. I like hearing both sides in fact.

[DoughDiligence]

Also look into Ultra Electronics.

http://www.ultra-ami.com/2013/06/fuel-cells-create-new-potential-for-uavs-other-critical-military-technologies/

They seem to be flying UAVs in Afghanistan right now using propane for fuel.

[DoughDiligence]

And you complain about my Due Diligence, Ha.

look into www.protonex.com

http://www.protonex.com/technology/fuel-options.aspx

They have options for using multiple fuels for multiple size fuel cells. The UAV-H5000 power system was reveal last year for use on UAVs.

http://www.upi.com/Business_News/Security-Industry/2012/08/08/Protonex-unveils-UAV-UGV-fuel-cell/UPI-49571344442559/

'Protonex said the military version of the UAV-H500 was used by the U.S. Naval Research Laboratory to set a flight endurance record on its small, unmanned aerial vehicle, the Ion Tiger. The aircraft was aloft for more than 26 hours, setting an endurance record for fuel cell powered flight.'


Another model of Fuel Cell using Liquid Hydrogen sets a new record this spring - 48 hours of flight time. A project sponsored by the Navy.

http://www.nrl.navy.mil/media/news-releases/2013/nrl-shatters-endurance-record-for-small-electric-uav

[Justfactsmam]

My end user channel checks, in S. California, indicate keen interest from Drone manufacturer engineers for a methonal (or any other alternate lithium ion battery) fuel cell solution that would extend time in flight for drones by 3 fold. Mobion has the only technology that can do it.

[Justfactsmam]

If you are on TD ameritrade go to the Thinkorswim platform and go to charts...when you click on "profit" charts, enter 20 year chart length of time and you will see that in February of 2000 it trade OVER $260 share.

[sons4]

Fair enough, good luck! eom

[DoughDiligence]

You are focused on comparing fuel cell companies vs market cap.

I am focused on comparing the MKTY methanol solution vs other systems that work better or have a better market opportunity.

It is a difference of option. If I am right, then the methanol opportunity will fizzle out despite the 5.2 million market cap.

[sons4]

Insiders are buying and the market cap is $4 million, show me one other fuel cell company with both of those golden nuggets! Sounds like you lost a whole lot of money here back in the 2000's and you have a vendetta.

Whether you don't like the company, the product or whatever you can't change the fact that this company is in talks for their fuel cell product and with a $4 million market cap and management buying shares it would be hard for anyone to have argue about why were buying the stock, sorry!

[DoughDiligence]

Thanks, I am doing fine with my DSNY shares bought in the 60s and 70s.

My comments here aren't hurting any of the HTFBS investors. If this stock appears less attractive because of my comments the available dollars will go into the other HTFBS favorites.

I am just raising some long-term growth yellow flags due to the science of using methanol fuel. If I am right, then I am doing some investors a favor by raising these issues. If I am wrong, then it won't matter in the long-run anyway because the stock price will overcome my concerns.

I am not against this stock for any reason. I tried to invest in the fuel cell companies 10 years ago when there was huge hope for these companies to change the world. I bought into some of the hydrogen fuel cell hype and researched other fuel cell options - which all panned out as fools gold.

The fact that this company has no operations means that they will have to ramp up over a period of 1-3 years to make significant deliveries for their products without any partnerships. With partnerships, they can ramp up sooner - but they lose some of the upside earnings.

There are many companies who make fuel cells these days. I think the military is already working on several UAV projects with different parties who have operating units. The hurdles for MKTY seems to be high for a company so small without any capital to move fast on new opportunities for their patents that are already 5-9 years old.

[timorr]

yea , and it looks like their buying has paid off for them.

[sons4]

Dr. Robb has been a buyer this year, it's not a lot but I don't think they would be buying any shares unless something was cooking, jmo! Also, new CEO buying!

Mar 28, 2013 ROBB WALTER L
Director 34,000 Direct Purchase at $0.35 per share.

Mar 25, 2013 LYNCH KEVIN G
Officer 33,794 Direct Purchase at $0.29 per share

May 28, 2013 LYNCH KEVIN G
Officer 35,400 Direct Purchase at $0.40 per share.