Altair Nanotechnologies Reports Revenue for 2001March 31, 2002 by Jeff Shepard
Altair Nanotechnologies Inc. (Reno, NV) announced that revenues for the year ended December 31, 2001, were approximately $43,000. The majority of the revenue was recognized in the fourth quarter and encompassed sales of titanium (TiO2) nanomaterials and lithium-titanate nanomaterials being sold primarily into advanced battery and thermal spray coating markets. The company expects to report revenues for its first quarter, ended March 30, 2002, in excess of $45,000, surpassing revenues for the entire year of 2001.
"We have accomplished significant goals during the last two years," commented Altair President William Long. "We converted the lab and pigment manufacturing facility acquired from BHP International into a manufacturing facility capable of economically producing commercial quantities of nanomaterials. Additionally, we have evolved the manufacturing process obtained from BHP for producing commercial, high-quality TiO2 particles into a number of patent-pending processes to produce a large variety of nanomaterials, including lithium-titanate spinel and lithium-transition metal oxides for the portable battery sector of the burgeoning battery industry."