ALBANY — Mechanical Technology Inc. on Monday announced a $3.2 million loss for first quarter 2008, approximately equal to its first quarter 2007 numbers.

MTI is the parent company of MTI MicroFuel Cells, a company focused on development of methanol fuel cell technology for hand-held electronics and MTI Instruments Inc., a company that makes precision measurement equipment.

Year-over-year revenues were down 7 percent to $2.2 million, from $2.3 million for the first quarter in 2008 Product sales revenue from MTI Instruments accounted for $2 million.

MTI President and Chief Operating Officer Peng Lim said MTI Micro made important advances in the first quarter toward commercializing its methanol fuel cell system, the Mobion chip.