 ALBANY, N.Y., Aug. 23, 2021 GLOBE NEWSWIRE -- via NewMediaWire -- Mechanical Technology, Incorporated MTI or the Company, NASDAQ: MKTY, the parent company of EcoChain, Inc. EcoChain, a cryptocurrency mining business powered by renewable energy, and MTI Instruments, Inc. MTI Instruments, a test and measurement instruments and systems business, today announced the closing of its upsized underwritten public offering of 720,000 shares of its 9.0 Series A Cumulative Perpetual Preferred Stock, par value 0.001 per share, with a 25.00 liquidation preference per share the Series A Preferred Stock, at a price to the public of 25.00 per share for aggregate gross proceeds of 18,000,000. Net proceeds to the Company, after payment of underwriting discounts and fees and estimated offering expenses payable by the Company, were approximately 16.1 million. 