Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Altair Nanotechnologies to Receive Additional Federal Funding for Battery Deployment for Naval Vessel

Abstract:
With President Bush's signing of the Continuing Resolution (CR) which contains appropriations for the Department of Defense, Altair Nanotechnologies Inc. (NASDAQ: ALTI), a leading provider of advanced materials and products for power and energy systems, and the United States Navy were granted an additional $4 million for the continued funding of a 2.5-Megawatt stationary power supply program. Total funds appropriated by Congress for Altairnano's naval battery program now total $12.5 million.

Altair Nanotechnologies to Receive Additional Federal Funding for Battery Deployment for Naval Vessel

RENO, NV | Posted on November 20th, 2008

Altairnano's program with the United States Navy focuses on developing, testing, and deploying an Altairnano battery as an uninterruptible power supply (UPS) on Navy missile destroyers enabling single generator operations. The application, which utilizes the battery's long life cycle and broad temperature operating range, is anticipated to create a safe, less costly, and environmentally sustainable substitute for fuel turbines, resulting in an annual fuel cost savings in excess of $1.5 million per ship.

"By funding this project, Congress and the President recognize how our company can help meet three important objectives," said Terry Copeland, Ph.D., Altairnano's Chief Executive Officer. "It will reduce our dependence on foreign oil, cut greenhouse gas emissions, and ensure Navy ships have power when they most need it."

"The latest appropriation reflects the financial commitment necessary to successfully deploy and commercialize Altairnano's unique battery solutions on Navy vessels," added Copeland. "We are encouraged by the initial results of testing and look forward to sharing these results as soon as they become available."

####

About Altair Nanotechnologies Inc.
Headquartered in Reno, Nevada with manufacturing in Anderson, Indiana, Altairnano is a leader in the creation and delivery of advanced materials and energy storage products. Going beyond lithium ion, Altairnano's Lithium-Titanate based battery products are among the highest performing and most scalable, with applications that include battery cells for military artillery, battery packs for hybrid vehicles and energy storage systems for large-scale stationary power services.

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 company'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 advanced lithium ion-based batteries and related products 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, product sales may be limited and 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 and Form 10-Q, as 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
C. Robert Pedraza
Vice President Corporate Strategy
Altair Nanotechnologies Inc.
775.856.2500

Individual Investors
Marty Tullio
Managing Member
McCloud Communications, LLC
949.553.9748

Copyright © Marketwire

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

News and information

MEMS chips get metatlenses: Combining metasurface lenses with MEMS technology could add high-speed scanning and enhance focusing capability of optical systems February 21st, 2018

Atomic structure of ultrasound material not what anyone expected February 21st, 2018

Oxford Instruments announces Dr Kate Ross as winner of the 2018 Lee Osheroff Richardson Science Prize for North and South America February 20th, 2018

Computers aid discovery of new, inexpensive material to make LEDs with high color quality February 20th, 2018

Govt.-Legislation/Regulation/Funding/Policy

Computers aid discovery of new, inexpensive material to make LEDs with high color quality February 20th, 2018

Arrowhead Receives Regulatory Clearance to Begin Phase 1/2 Study of ARO-HBV for Treatment of Hepatitis B February 15th, 2018

Arrowhead Pharmaceuticals Receives Orphan Drug Designation for ARO-AAT February 15th, 2018

Rutgers-Led Innovation Could Spur Faster, Cheaper, Nano-Based Manufacturing: Scalable and cost-effective manufacturing of thin film devices February 14th, 2018

Announcements

MEMS chips get metatlenses: Combining metasurface lenses with MEMS technology could add high-speed scanning and enhance focusing capability of optical systems February 21st, 2018

Atomic structure of ultrasound material not what anyone expected February 21st, 2018

Oxford Instruments announces Dr Kate Ross as winner of the 2018 Lee Osheroff Richardson Science Prize for North and South America February 20th, 2018

Computers aid discovery of new, inexpensive material to make LEDs with high color quality February 20th, 2018

Military

Graphene on toast, anyone? Rice University scientists create patterned graphene onto food, paper, cloth, cardboard February 13th, 2018

Silk fibers could be high-tech ‘natural metamaterials’ January 31st, 2018

Researchers use sound waves to advance optical communication January 22nd, 2018

New Method Uses DNA, Nanoparticles and Top-Down Lithography to Make Optically Active Structures: Technique could lead to new classes of materials that can bend light, such as for those used in cloaking devices January 18th, 2018

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

Leti Chief Scientist Barbara De Salvo Will Help Kick Off ISSCC 2018 with Opening-Day Keynote: In Addition, Leti Scientists Will Present and Demo New Technology for Piezoelectric Energy Harvesting February 8th, 2018

Round-the-clock power from smart bowties February 5th, 2018

NTU scientists create customizable, fabric-like power source for wearable electronics January 30th, 2018

Ultra-thin memory storage device paves way for more powerful computing January 17th, 2018

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



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project