Altair Nanotechnologies Announces Joint Development Agreement to Accelerate Commercialization of Lithium-Titanate Battery Cells

Published on May 18, 2009 at 7:59 AM

Altair Nanotechnologies 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 in China.

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