Altair Nanotechnologies Obtains Congressional Support for Ongoing Research.RENO, Nev. -- Altair Nanotechnologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ALTI), a leading manufacturer of safe, high-performance NanoSafe[R] battery pack products and nano (1) Billionth (10 to the -9th power). See space/time. (2) Refers to the nanotech industry in general. See nanotechnology. (3) See iPod nano. materials technology used in energy, power and life sciences applications, yesterday obtained congressional support for funding two important Altairnano projects. The U.S. Senate approved a military funding budget that included funding for two cutting-edge nanotechnology research and development projects that Altairnano is conducting. One project receiving continued funding allocations in the proposed bill was for a 2.5-megawatt stationary power supply for the U.S. Navy. It involves the development of large, advanced lithium Titanate ti·tan·ate n. A salt or ester of titanic acid. energy storage packs to replace diesel fuel powered generators on the Navy's largest ships. Altairnano's lithium Titanate energy storage packs provide energy in an environmentally sustainable manner and with safety characteristics not found in other batteries. A second project is the development of nanosensors that can detect explosive materials
"Funding for these projects helps Altair Nanotechnologies employ 90 highly-qualified staff in the Reno area, expand the high-tech work going on in Nevada, and could provide significant benefits to our armed forces," said Altairnano President and Chief Executive Officer, Alan J. Gotcher, PhD. "We are pleased that Congress recognizes the importance of our research and development projects for helping to reduce energy usage and provide new levels of detection against threats to our troops." ABOUT ALTAIR NANOTECHNOLOGIES INC. Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. A seasoned management team complements Altairnano's leading edge scientists, with substantial experience in commercializing innovative, disruptive technologies A new technology that has a serious impact on the status quo and changes the way people have been dealing with something, perhaps for decades. Music CDs all but wiped out the phonograph industry within a few years, and digital cameras are destined to eliminate the film industry. . The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP AHP Assistant House Physician. pigment process. Altairnano is a leading manufacturer of advanced battery pack systems, which are used in stationary power applications, and electric and hybrid-electric vehicles. For more information visit: www.altairnano.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, may involve risks, uncertainties and other factors that may cause the Altairnano's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the risks that that development of the large advanced lithium ion-based batteries and nanosensors described herein will not be completed for technical, political, strategic or other reasons; that any products developed will not performed as expected in future testing or real-world applications; and that even if full commercialization occurs, sales may not reach expected levels and/or costs associated with production may exceed revenues. In addition, other risks are identified in the company's most recent Annual Report on Form 10-Kfiled with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion