Mobilygen today revealed that Elgato Systems' Turbo.264 hardware encoder utilizes the company's MG1264 Codec chip. The Turbo.264 is designed to assist various Macs by encoding movies for use with iPod, Apple TV, and the forthcoming iPhone, as well as Sony PSP units and other video playback devices. Mobilygen's MG1264 Codec chip is designed into the Turbo.264, enabling the Mac-compatible USB stick to encode any movie into H.264 video format. The Turbo.264 stick speeds encoding up to five times faster than the software equivalent, according to Mobilygen, and simultaneously frees up the Mac's CPU for other tasks. Elgato's Turbo.264 launched last week for $100.