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One-Megawatt Battery System Available for Commercial Operation by AES Energy Storage LLC
Altair Nanotechnologies Inc. (NASDAQ: ALTI) announced today that its one megawatt (MW), 250 kilowatt-hour battery storage system met requirements to participate in the PJM Regional Transmission Organization (RTO) control area. This milestone marks the first commercial acceptance of an advanced Lithium-Titanate battery to provide grid regulation services in one of the largest electricity markets in the US.
Altairnano is a leading provider of advanced materials and products for power and energy systems. The company has a joint development agreement with AES Energy Storage LLC, a subsidiary of The AES Corporation (NYSE: AES), to develop grid-scale energy storage applications.
PJM Interconnection is a regional transmission organization (RTO) that coordinates the movement of wholesale electricity in 13 states and the District of Columbia, serving approximately 51 million people.
"Our advanced Lithium-Titanate battery technology will play an integral role in addressing the utility power market's need for environmentally friendly and energy efficient solutions," said Terry Copeland, President and CEO for Altairnano. "This will create a more resilient grid, allowing for increased adoption of renewable generating resources, such as solar and wind."
AES Energy Storage LLC completed the standard acceptance testing for regulation service within the PJM service territory earlier this week. The tests were completed by a one MW energy storage unit incorporating Altairnano's advanced Lithium-Titanate cells. This unit was part of an earlier AES technology validation effort in Indiana. The unit is now available for commercial operation as a qualified market participant for regulation service by AES Energy Storage.
"Open power markets, like the PJM Interconnection, value grid stability services and encourage the deployment of technologies to efficiently serve these needs," said Chris Shelton, President of AES Energy Storage LLC. "By completing the requirements to compete in the PJM Regional Transmission Organization, we are enabling energy storage technologies that can help to make the electric grid smarter and more responsive today."
AES is working with industry leaders to selectively deploy energy storage solutions to improve the capacity and efficiency of its existing thermal, renewable, and distribution facilities. AES is one of the world's largest global power companies, with operations in 29 countries, including a platform of more than 120 power facilities and 12 million distribution customers.
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.
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.
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C. Robert Pedraza
Vice President Corporate Strategy
Altair Nanotechnologies Inc.
Senior Marketing Specialist
Altair Nanotechnologies Inc.
McCloud Communications, LLC
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