SOURCE: Altair Nanotechnologies

November 22, 2005 09:15 ET

Altair Nanotechnologies Awarded $250,000 Grant for Advancement of Its Alternative Energy Program

RENO, NV -- (MARKET WIRE) -- November 22, 2005 -- Altair Nanotechnologies, Inc. (NASDAQ: ALTI), today announced that it has been awarded a $250,000 grant from the Indiana Advanced Energy Technologies Program (AETP) initiative. The Indiana Energy Group, a division of the Office of Lieutenant Governor Becky Skillman, administers the program.

The Indiana Energy Group has awarded six grants on a competitive basis from this program during 2005. The grant funding must be used to manufacture products containing products that are not currently in the U.S. 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 J. Gotcher, Ph.D. "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, Indiana. 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," continued Gotcher. "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 U.S."

ABOUT ALTAIR NANOTECHNOLOGIES INC.

Altairnano is a leading supplier and innovator of advanced ceramic nanomaterial technology. Based in Reno, Nevada, Altairnano has assembled a unique team of materials scientists who, coupled in collaborative ventures with industry partners and leading academic centers, have pioneered an array of intellectual property and products.

Altairnano's robust proprietary technology platforms produce a variety of crystalline and non-crystalline nanomaterials of unique structure, performance, quality and cost. Altairnano's two divisions, Life Sciences and Performance Materials, are focused on applications where its nanotechnology may enable new high growth markets. The Life Sciences Division is pursuing market applications in pharmaceuticals, drug delivery, dental materials and other medical markets. The Performance Materials Division is focused on market applications in advanced materials for paints and coatings, air and water treatment, and alternative energy including new Li Ion battery electrode materials. For additional information on Altairnano and its nanomaterials, 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" provisions of the Private Securities Litigation Reform Act 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 risks that commercialization of Altairnano's battery materials may not occur for various reasons, including adverse test results related to Altairnano's battery materials or positive developments of competing companies; that neither the expansion of Altairnano's battery team nor the purchase of additional testing and pilot manufacturing equipment will accelerate commercialization; and that, even if commercialization occurs, revenues from Altairnano's battery materials may not be significant for various reasons, including absence of market demand and low royalty or wholesale materials rates In addition, other risks are identified in the company's most recent Annual Report on Form 10-K, 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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