MPM Enters Release and Settlement Agreement with Greenwich Insurance Company

MPM Technologies, Inc. (the “Company”) (OTCBB: MPML) and its subsidiaries, AirPol, Inc., Nupower, Inc., and MPM Mining, Inc., entered into an eight-party “Release and Settlement Agreement” with Greenwich Insurance Company, Michael J. Luciano, JFLI Trust and HMAT Associates, Inc. Under the terms of the Release and Settlement Agreement, MPM Mining, Inc. will assume from the parent company approximately $6.7 million of the Company's outstanding indebtedness to Greenwich Insurance Company. The Release and Settlement Agreement also sets forth the terms and conditions for the repayment of the debt by MPM Mining, Inc., and the release of the Company and its subsidiaries for any and all liabilities.

The Release and Settlement Agreement is the final and necessary instrument needed to be in place to effect the closing of the following agreements which were announced via Form 8K on February 23, 2011: Stock Purchase Agreement between the Company and Carbon Cycle Investment LLC (for the purchase of controlling shares of the Company); Purchase Agreement between the Company and Mr. Michael Luciano (for the purchase of MPM Mining, Inc. by Mr. Luciano).

Michael J. Luciano, MPM Chairman and CEO, stated: “The conclusion of this agreement insures the successful reorganization of MPM Technologies, Inc., which will bring forth substantial improvements to MPM’s financial standing, and most importantly, allow MPM to develop its businesses to their fullest potential. The addition of a new subsidiary that includes sustainable biofuel, feedstock production and energy parks will bring MPM business to the next level.”

MPM Technologies, Inc. is a holding company with three subsidiaries: Nupower, Inc., which is engaged in the development and commercialization of Skygas™; AirPol, Inc., which builds, installs, and services industrial air pollution control systems; and MPM Mining, Inc., an exploration and development company with gold and silver mining properties in Montana. Find more information at www.mpmtech.com.

Carbon Cycle Investments LLC is a holding company that is engaging with communities to collaborate on developing sustainable solutions that benefit the community from renewable energy, economic, and employment perspectives. www.carboncycleinvestments.com

Statement Under the Private Securities Litigation Reform Act. With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors which are outside the control of the company.