Altair Nanotechnologies Inc. (Reno, NV) and Advanced Battery Technologies Inc. (ABAT, China) announced that they have signed a mutually exclusive development agreement for lithium-polymer batteries in China. The agreement covers the incorporation of Altair's battery electrode nanomaterials into ABAT's existing polymer battery product lines. Terms of the agreement were not disclosed.
The agreement with ABAT specifically focuses on development of high-power, lithium-polymer batteries for use in electric vehicles. ABAT is completing the installation and commissioning of its third manufacturing line in Harbin, China.
"ABAT has built a reputation as a state-of-the-art, polymer lithium-ion battery manufacturing company with their focus on high-capacity, environmentally friendly battery designs," commented Altair Nanotechnologies CEO Alan Gotcher. "In our first of multiple market applications for Altair's nanotechnology-based battery electrode materials, we are delighted to partner with a company such as ABAT for the electric vehicle market in China."
