Altair Nanotechnologies Awarded Alternative Energy Grant

November 21, 2005 by Jeff Shepard

Altair Nanotechnologies Inc. (Reno, NV), a developer of advanced ceramic nanomaterial technology, announced that it has been awarded a $250,000 grant from the Indiana Advanced Energy Technologies Program (AETP) initiative. The Indiana Energy Group administers the program and the Group has awarded six grants on a competitive basis from the program during 2005. The grant funding must be used to manufacture products containing products that are not currently in the US market, and that are above industry standard in terms of energy efficiency (e.g. hybrid automobiles, fuel cells) and/or incorporate an innovative technology, such as nanotechnology, that allows the product to save energy.

"We would like to thank Indiana's Lieutenant Governor Becky Skillman and the Energy Group for recognizing Altair and its achievements in the development of energy efficient technologies," said Altair President and Chief Executive Officer Alan Gotcher. "The grant funding will assist Altair to purchase and install production and test equipment for product application development in its development and manufacturing center in Anderson, IN. The center is open and pilot manufacturing is anticipated to begin by the end of the first quarter of 2006. The addition of our in-house manufacturing and testing capabilities for lithium-ion cells, batteries, and battery packs is expected to reduce development time and expedite commercialization of our battery electrode materials. This expansion will allow Altair to conduct accelerated testing of battery materials and battery products, and provide application development capabilities for continued discussion and development work with large potential customers and strategic partners located in the US."