Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Altair Nanotechnologies Announces $7 Million in Federal Funding for Eco-Friendly Battery and Sensor Programs

Abstract:
Altair Nanotechnologies Inc. (Nasdaq: ALTI) announced today that the recently passed Defense Appropriations Bill signed into law by President Bush on November 12, 2007, provides for $7 million in federal funding related to two of its ongoing advanced research and development projects. This confirms funding, which was prospectively discussed by the company on October 4, 2007.

Altair Nanotechnologies Announces $7 Million in Federal Funding for Eco-Friendly Battery and Sensor Programs

RENO, NV | Posted on November 14th, 2007

The first project, which is to receive $5 million, is directed toward a continuing project with the U.S. Navy involving the production of a 2.5-megawatt stationary power supply. The objective of the power supply project is to reduce the Navy's dependence on diesel fuel. Currently, each Navy ship must run two diesel generators in parallel to ensure power is not lost should the primary generator go down. Altairnano's advanced lithium titanate energy storage pack could replace the back-up generator, allowing the Navy to reduce its consumption of fuel by millions of gallons each year.

The development of a sensor that can detect minute amounts of explosive materials and chemical warfare agents is the focus of the second project, which is a previously announced collaboration with Western Michigan University. The $2 million in funding will allow Altairnano to increase the sensitivity of its nanotechnology platform, with the goal of bringing a handheld sensor to the military in the near term.

"We firmly believe that our technology can reduce the Navy's dependence on imported oil and provide protection for our soldiers on the battlefield," said Alan J. Gotcher, Ph.D., Altairnano's President and Chief Executive Officer. "We thank Congress and President Bush for funding the two projects and for recognizing that emerging companies have an important role to play in strengthening our nation." y change in events.

####

About Altair Nanotechnologies Inc.
Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. A seasoned management team with substantial experience in commercializing innovative, disruptive technologies, complements Altairnano's leading edge scientists. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. Altairnano is a leading manufacturer of advanced battery pack systems, which are used in stationary power applications, and electric and hybrid-electric vehicles. For more information visit: http://www.altairnano.com .

Forward-Looking Statements

This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the Altairnano’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the risks that development of the large advanced lithium ion-based batteries and nanosensors described herein will not be completed for technical, political, strategic or other reasons; that any products developed will not perform as expected in future testing or real-world applications; and that even if full commercialization occurs, sales may not reach expected levels and/or costs associated with production may exceed revenues. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K filed with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.

For more information, please click here

Contacts:
Institutional Investors:
Fleishman-Hillard
Tom Laughran, Senior Vice President, 312-751-3519

or
Media Relations:
Fleishman-Hillard
Terry Banks, Senior Vice President, 202-828-9710

or
Retail Investors:
McCloud Communications, LLC
Marty Tullio, Managing Member, 949-553-9748

or
Company Information:
Altair Nanotechnologies Inc.
Ed Dickinson, Chief Financial Officer, 775-858-3750

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Govt.-Legislation/Regulation/Funding/Policy

Programmable materials find strength in molecular repetition May 23rd, 2016

Rice de-icer gains anti-icing properties: Dual-function, graphene-based material good for aircraft, extreme environments May 23rd, 2016

ORNL demonstrates large-scale technique to produce quantum dots May 21st, 2016

Nanotubes are beacons in cancer-imaging technique: Rice University researchers use spectral triangulation to pinpoint location of tumors May 21st, 2016

Announcements

Physicists create first metamaterial with rewritable magnetic ordering May 23rd, 2016

Tiny packages may pack powerful treatment for brain tumors: Nanocarrier provides efficient delivery of chemotherapeutic drug May 23rd, 2016

Two-stage nanoparticle delivery of piperlongumine and TRAIL anti-cancer therapy May 23rd, 2016

Rice de-icer gains anti-icing properties: Dual-function, graphene-based material good for aircraft, extreme environments May 23rd, 2016

Military

Programmable materials find strength in molecular repetition May 23rd, 2016

Rice de-icer gains anti-icing properties: Dual-function, graphene-based material good for aircraft, extreme environments May 23rd, 2016

This 'nanocavity' may improve ultrathin solar panels, video cameras and more May 16th, 2016

UW researchers unleash graphene 'tiger' for more efficient optoelectronics May 16th, 2016

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Distance wireless charging enhanced by magnetic metamaterials: A metamaterial shell is capable of multiplying transmission efficiency several times over May 13th, 2016

Abalonyx launches Reduced Graphene Oxide Product: Abalonyx has successfully scaled up production of thermally reduced graphene oxide (rGO) in its Tofte, Norway, production facility. This product is now offered to customers in Kg-quantities May 10th, 2016

Visualizing the Lithiation of a Nanosized Iron-Oxide Material in Real Time: Electron microscopy technique reveals the reaction pathways that emerge as lithium ions are added to magnetite nanoparticles May 9th, 2016

Speedy ion conduction in solid electrolytes clears road for advanced energy devices May 5th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic