Inc. (Altairnano) (Nasdaq: ALTI), and Amperex Technology Ltd. (ATL), announced
today a joint development agreement to accelerate the commercialization of next
generation high-performance lithium-titanate battery cells.
Under terms of the agreement, Altairnano and ATL will provide respective technical
resources to focus on the engineering, design and testing of the next-generation
of rechargeable cells. The cells are the core technology supporting Altairnano's
energy storage and battery systems designed for electrical grid stability, renewable
energy integration, and transportation applications.
The joint development agreement is an integral component of Altairnano's product
roadmap and accelerated commercialization strategy for the company's advanced
energy storage solutions. This initiative seeks to improve cell performance
by increasing cell energy and power density. Increased density, coupled with
Altairnano's distinctive performance capabilities, will further enhance the
value and market adoption of the company's energy storage systems.
"ATL, utilizing world-class manufacturing techniques and industry-leading
expertise in battery cell development, views its association with Altairnano
as furthering its goal of working with key companies in the energy storage system
market to take advantage of the resulting synergies," said Dr. Robin Zeng,
President and CEO at ATL. "We are very pleased to be working with Altairnano
to accelerate commercialization of next-generation lithium-titanate batteries.
The association with Altairnano will provide additional in-roads to the global
market in energy storage."
Initial availability of these cells and advanced energy storage systems and
batteries featuring the company's next generation of advanced lithium-titanate
cells is anticipated by the end of 2009.
"We're excited to partner with a recognized world leader in advanced cell
design and manufacturing," said Dr. Terry Copeland, President and CEO,
Altairnano. "Strategic alignment with ATL strengthens Altairnano's position
to meet growing global market demands for utility-scale energy storage systems
and for EV, HEV, and PHEV battery applications."
Headquartered in Reno, Nevada with manufacturing in Anderson, Indiana, Altairnano
is a leading provider of energy storage systems for clean, efficient power and
energy management. Going beyond lithium ion, Altairnano's Lithium-Titanate based
battery systems 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.
For more information please visit Altairnano at www.altairnano.com.
Amperex Technologies Limited, a premier energy solution provider for mobile
devices, is a recognized leader supplying lithium-ion polymer batteries to name-brand
companies worldwide. ATL, headquartered in Hong Kong, has manufacturing facilities