Phoenix Motorcars Order $2.2m of NanoSafe Batteries from Altair Nanotechnologies

Published on May 11, 2007 at 7:34 PM

Altair Nanotechnologies Inc., a leading provider of advanced nanomaterials technology used in energy, life sciences and industrial product applications, today announced it received a new order in the amount of $2,210,000 for its rapid–charge, high-power NanoSafeTM 35 KWh battery packs for use in sport utility trucks (SUTs) and sport utility vehicles (SUVs) manufactured by California-based Phoenix Motorcars, Inc.

The new product order brings Phoenix’s total purchase commitment on Altairnano NanoSafe battery packs to $4,075,000. Altairnano has shipped more than $1,475,000 of its 35 KWh battery packs to Phoenix.

“Altairnano's innovative NanoSafe battery packs enables Phoenix Motorcars SUTs and SUVs not only to meet — but to exceed — performance specifications for the State of California’s Type III Zero Emissions Vehicle,” said Altairnano President and CEO Alan J. Gotcher Ph.D. “Altairnano has a shipment ready for delivery to Phoenix later this week. All the required down payments have been made, and we expect the additional order for $2.2M battery packs will be delivered on schedule.”

Altairnano’s 35 KWh NanoSafe packs provide sufficient power and energy for SUT and SUV vehicles to travel up to 130 miles with a top speed of over 100 miles per hour. NanoSafe battery packs can be recharged in less than 10 minutes using an industrial 480-volt battery-charging platform. NanoSafe battery packs can also be charged over longer periods of time when using typical 120 or 240 volt power sources. An on-board charger that is compatible with these lower voltage sources is standard equipment for both the Phoenix SUT and SUV vehicles.

“The quality, performance, safety and reliability of Altairnano NanoSafe battery packs is a critical element in our ability to advance in the marketplace,” said Phoenix Motorcars' CEO Daniel J. Elliott. “Phoenix is committed to using only Altairnano's NanoSafe battery packs, and we intend on keeping our purchase and supply commitment to Altairnano.”

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