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Posted in | Nanobusiness

Altair Nanotechnologies Appoints New Board Director

Published on June 11, 2009 at 8:33 AM

Altair Nanotechnologies Inc. (Altairnano) (NASDAQ: ALTI), leading provider of energy storage systems for clean, efficient power and energy management, announces that Hossein Asrar Haghighi has been named to the corporation's Board of Directors. Mr. Haghighi was selected by the Board of Directors at its June 4 meeting.

Mr. Haghighi, 66, is the chief finance officer for the Al Yousuf Group LLC, which is based in Dubai, United Arab Emirates. He joined Al Yousuf LLC in 1986 following 25 years managing banking activities for Middle East organizations.

"Al Yousuf LLC's significant investment in Altairnano is a strong validation of the confidence we both share in Altairnano's power and energy technologies," said Terry M. Copeland, Altairnano's president and chief executive officer. "The appointment of Mr. Haghighi to our board further strengthens and enhances this deep strategic relationship."

Al Yousuf LLC was founded in Dubai in 1953 and since that time has steadily grown to become one of the leading commercial groups in the United Arab Emirates. Al Yousuf LLC operates in a wide range of industries including automobiles, marine, manufacturing, real estate, information and communication technology, electronic goods and chemicals. Al Yousuf LLC now has a network of subsidiaries and associate companies that in aggregate have more than 3,000 employees.

In 2008, it was announced that Al Yousuf LLC would receive two seats on Altairnano's Board of Directors relating to a private placement agreement. The first Director, Eqbal Al Yousuf, President of Al Yousuf LLC, was named to the Board at the close of the transaction. Mr. Haghighi is the second Al Yousuf LLC representative named to the Board.

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