Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

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

Physicists solve quantum tunneling mystery: ANU media release: An international team of scientists studying ultrafast physics have solved a mystery of quantum mechanics, and found that quantum tunneling is an instantaneous process May 27th, 2015

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

Controlled Release of Anticorrosive Materials in Spot by Nanocarriers May 27th, 2015

Govt.-Legislation/Regulation/Funding/Policy

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

One step closer to a single-molecule device: Columbia Engineering researchers first to create a single-molecule diode -- the ultimate in miniaturization for electronic devices -- with potential for real-world applications May 25th, 2015

DNA Double Helix Does Double Duty in Assembling Arrays of Nanoparticles: Synthetic pieces of biological molecule form framework and glue for making nanoparticle clusters and arrays May 25th, 2015

Announcements

Physicists solve quantum tunneling mystery: ANU media release: An international team of scientists studying ultrafast physics have solved a mystery of quantum mechanics, and found that quantum tunneling is an instantaneous process May 27th, 2015

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

Controlled Release of Anticorrosive Materials in Spot by Nanocarriers May 27th, 2015

Military

This Slinky lookalike 'hyperlens' helps us see tiny objects: The photonics advancement could improve early cancer detection, nanoelectronics manufacturing and scientists' ability to observe single molecules May 23rd, 2015

New Antibacterial Wound Dressing in Iran Can Display Replacement Time May 22nd, 2015

Nanotherapy effective in mice with multiple myeloma May 21st, 2015

Taking control of light emission: Researchers find a way of tuning light waves by pairing 2 exotic 2-D materials May 20th, 2015

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

Turn that defect upside down: Twin boundaries in lithium-ion batteries May 21st, 2015

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Sandia researchers first to measure thermoelectric behavior by 'Tinkertoy' materials May 20th, 2015

Defects can 'Hulk-up' materials: Berkeley lab study shows properly managed damage can boost material thermoelectric performances May 20th, 2015

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