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June 8th, 2007
Supporting national defense in Nevada
Despite the mounting costs of supplying the war, some Nevada research companies, such as Altair Nanotechnologies Inc. of Reno, still find new contracts. A $3.3 million contract this year to create a prototype battery for warships is the company's first deal with the Defense Department, chief financial officer Edward Dickinson said.
The company is research-based, hoping to find a market for its ultra-small "nanomaterials" that range from medicine and paints to batteries. It is traded on the Nasdaq and has not made a profit.
"This is a validation test for our new disruptive battery technology," said Evan House, who manages the Navy project. "Warships, in particular, run two generators continuously, one to supply energy and one as a backup. The fuel cost for the backups is staggering. That is one particular use for us."
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