Mechanical Technology, Incorporated Announces Land Acquisition to Build Ultra Low-Cost Green Data Center

Mechanical Technology_ Incorporated Announces Land Acquisition to Build Ultra Low-Cost Green Data Center

Mechanical Technology, Incorporated (“MTI” or the “Company“), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, today provided a corporate update following on its Shareholder Letter of December 23, 2020.

Today’s announcement of an agreement to acquire land is an important step in the Company’s plan to build an ultra low-cost green data center that will fulfill the Company’s goal of becoming an ultra capital efficient data center operator.

Read More: CIOs demystify the common mistakes made during DevOps implementation

The Company anticipates that the site, which is located in the Southeast United States, represents a critical step in its strategic roadmap to grow its EcoChain business.  The Company has set an objective to complete construction of a 25MW data center that will be operational in the fourth quarter of 2021.

We expect this site will be the template for future greenfield and brownfield site builds, with a keen focus on operating and capital efficiency.

In cooperation with our technical partners at Soluna, MTI continues to build a robust pipeline of green powered ultra low-cost locations.  Our pipeline incorporates a blend of greenfield, brownfield and ready to operate projects.

“We are excited to be executing on our plan to build out at least 50MW by years end,” commented Michael Toporek, CEO. Added Toporek: “We very specifically have set a target to have under our control and ramp up operations of 50MW of green powered ultra low-cost data center capacity by the end of the year.” Concluded Toporek: “It was important for us to begin executing on our 2021 objectives early. Our team continues to work to meet or beat its targets.”