Altair
Nanotechnologies, Inc., a leading manufacturer of safe,
high-performance lithium-titanate battery and energy storage products
announced today that it completed on schedule in December the
manufacturing of battery packs to be used in a two (2) megawatt energy
storage system ordered by the AES Corporation. The $1 million purchase
initiated by AES was previously announced in August 2007. Altairnano
expects the system to be connected to the grid and tested during the
first quarter of 2008.
“This is a significant manufacturing milestone in
Altairnano’s battery and energy storage go-to-market
strategy,” said Altairnano President and CEO Alan J. Gotcher,
PhD. “We believe that stationary power represents a large
market opportunity for Altairnano, and are proud to be working with
global power leader AES to develop these large-scale energy storage
systems.”
Earlier this year, AES and Altairnano announced a joint
development and equipment purchase agreement related to
Altairnano’s battery and energy storage products. Under the
terms of the agreement, the companies will jointly develop a suite of
energy storage solutions specifically for AES. Altairnano is working
with AES to apply these systems at strategic points within the
electrical grid. The quick response time, extended life and power
profile of the Altairnano batteries and energy storage products are
well suited to improving performance in these areas with the potential
for lower environmental impact than traditional generation solutions.