Mechanical Technology, Incorporated Announces Receipt of Historic Purchase Order and Secures Supporting Line of Credit

ALBANY, N.Y., May 7, 2020 /PRNewswire/ — Mechanical Technology, Incorporated (“MTI“), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced today the receipt of the largest single order ever received by MTI Instruments, Inc. (“MTI Instruments“), the operating subsidiary of MTI engaged in the design, manufacture and sale of precision testing and measurement systems. This delivery order was made pursuant to the multi-year contract entered into by MTI Instruments and the United States Air Force in July 2016 and is composed of orders for 52 new PBS-4100+ vibration measurement and balancing systems, having a total purchase price value of approximately $3.3 million. MTI Instruments expects to fulfill and receive payment, with respect to this delivery order, by the end of 2020.