Mechanical Technology Inc. announced that pursuant to the Securities Purchase Agreement, effective October 21, 2016, E. Dennis O'Connor and Dr. Walter Robb resigned from the Board and the Board appointed Matthew E. Lipman, Michael Toporek and Edward R. Hirshfield to the Board. On October 21, 2016, Thomas J. Marusak also resigned from his position as a member of the Audit Committee of the Board. At the time of his resignation, Mr. O'Connor was a member of the Compensation and Governance and Nominating Committees of the Board. Mr. Hirshfield was appointed to the Compensation Committee of the Board and Matthew E. Lipman was appointed to the Audit Committee and Governance and Nominating Committee of the Board.