Altair Nanotechnologies Receives $2.5M Grant from the Department of Energy; Research Will Be Conducted in Partnership with Three Leading Research Institutions.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) announced that it has received a $2.5M grant from the U.S. Department of Energy. This grant funds three significant research and development programs at Altairnano covering battery electrode materials, nanosensors and nanomaterials characterization. The research programs will be conducted over the next 24 months. "We are pleased to receive this grant from the Department of Energy," said Alan J. Gotcher, Ph.D, Altairnano President and Chief Executive Officer. "It will assist us in making important progress in our battery technology and in nanosensors. Additionally, using part of the grant funding, we are extending our product stewardship Product stewardship is a concept whereby environmental protection centers around the product itself, and everyone involved in the lifespan of the product is called upon to take up responsibility to reduce its environmental impact. work by understanding the fundamental aspects of our nanomaterials and their interaction with our environment." The research funded by the grant includes the following programs: Battery technology: --Continued research on optimized anode anode (ăn`ōd), electrode through which current enters an electric device. In electrolysis, it is the positive electrode in the electrolytic cell. anode Terminal or electrode from which electrons leave a system. and cathode materials for high power, safe, fast charge batteries. This research will extend the collaboration with Rutgers University Rutgers University, main campus at New Brunswick, N.J.; land-grant and state supported; coeducational except for Douglass College; chartered 1766 as Queen's College, opened 1771. Campuses and Facilities Rutgers maintains three campuses. for prototype cell testing. --Further investigation of extreme temperature range battery performance. Nanosensors --Extending the existing collaboration with Western Michigan University Western Michigan University, at Kalamazoo, Mich.; coeducational; founded in 1903 as Western State Normal School, became accredited in 1927 as a college, gained university status in 1957. on nanosensors this research will continue the development of a sensing system for detecting chemical, biological and radiological agents. Nanomaterials characterization --This is a new collaboration with the University of California, Santa Barbara History The predecessor to UCSB, Santa Barbara State College, focused on teacher training, industrial arts, home economics, and foreign languages. Intense lobbying by an interest group in the City of Santa Barbara led by Thomas Storke and Pearl Chase persuaded the State to investigate the interaction of Altairnano's nanomaterials with various non-aqueous environments. ABOUT ALTAIR NANOTECHNOLOGIES INC. Altairnano is an innovator and supplier of advanced ceramic nanomaterials. With a skilled team of scientists in its 100,000 square foot facilities who, coupled in collaborative ventures with industry partners and leading academic centers, have developed a unique portfolio of intellectual property and novel products. These researchers are complemented by a seasoned management team with substantial experience in commercializing innovative, disruptive technologies. Altairnano focuses on nanotechnology applications With nanotechnology, a large set of materials and improved products rely on a change in the physical properties when the feature sizes are shrunk. Nanoparticles for example take advantage of their dramatically increased surface area to volume ratio. Their optical properties, e.g. to enable new high-growth markets. In alternative energy Altairnano is pioneering new battery materials and systems. The company is applying nanotechnology to the development of drug candidates for humans and animals, coatings materials for implants, and materials for dental applications. Its high performance nanomaterials have applications in paints, coatings, and the treatment of water and air. The Altairnano Hydrochloride hydrochloride /hy·dro·chlo·ride/ (-klor´id) a salt of hydrochloric acid. hy·dro·chlo·ride n. A compound resulting from the reaction of hydrochloric acid with an organic base. Pigment process, the first new patented pigment process in 50 years, is an environmentally friendly method for manufacturing white pigment used in paints, paper and plastic. For additional information visit www.altairnano.com. Forward-Looking Statements 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 company'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 risk that our development efforts will not lead to marketable products, that market for any developed products, many or which are small or non-existent, will not expand or come into existence as expected; that even if a significant market evolves, that competing products will capture a dominant market position; and that even if products capture significant market position, production and overheard costs may exceed associated revenue. In addition, other risks are identified in the company's most recent Annual Report on Form 10-Q Form 10-Q See 10-Q. , as filed 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. |
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