SOURCE: Altair Nanotechnologies Inc.

Altair Nanotechnologies Inc.

June 11, 2009 08:00 ET

Altair Nanotechnologies Names Hossein Asrar Haghighi to Its Board of Directors

RENO, NV--(Marketwire - June 11, 2009) - Altair Nanotechnologies Inc. (Altairnano) (NASDAQ: ALTI), a leading provider of energy storage systems for clean, efficient power and energy management, announces that Hossein Asrar Haghighi has been named to the corporation's Board of Directors. Mr. Haghighi was selected by the Board of Directors at its June 4 meeting.

Mr. Haghighi, 66, is the chief finance officer for the Al Yousuf Group LLC, which is based in Dubai, United Arab Emirates. He joined Al Yousuf LLC in 1986 following 25 years managing banking activities for Middle East organizations.

"Al Yousuf LLC's significant investment in Altairnano is a strong validation of the confidence we both share in Altairnano's power and energy technologies," said Terry M. Copeland, Altairnano's president and chief executive officer. "The appointment of Mr. Haghighi to our board further strengthens and enhances this deep strategic relationship."

Al Yousuf LLC was founded in Dubai in 1953 and since that time has steadily grown to become one of the leading commercial groups in the United Arab Emirates. Al Yousuf LLC operates in a wide range of industries including automobiles, marine, manufacturing, real estate, information and communication technology, electronic goods and chemicals. Al Yousuf LLC now has a network of subsidiaries and associate companies that in aggregate have more than 3,000 employees.

In 2008, it was announced that Al Yousuf LLC would receive two seats on Altairnano's Board of Directors relating to a private placement agreement. The first Director, Eqbal Al Yousuf, President of Al Yousuf LLC, was named to the Board at the close of the transaction. Mr. Haghighi is the second Al Yousuf LLC representative named to the Board.

About Altair Nanotechnologies Inc.

Headquartered in Reno, Nevada with manufacturing in Anderson, Indiana, Altairnano is a leading provider of energy storage systems for clean, efficient power and energy management. Going beyond lithium ion, Altairnano's Lithium-Titanate based battery systems are among the highest performing and most scalable, with applications that include battery cells for military artillery, battery packs for hybrid vehicles and energy storage systems for large-scale stationary power services. For more information please visit Altairnano at 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 development of the advanced lithium ion-based batteries and related products described herein will not be completed for technical, political, strategic or other reasons; that any products developed will not perform as expected in future testing or real-world applications; and that even if full commercialization occurs, product sales may be limited and costs associated with production may exceed revenues. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K and Form 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.

Contact Information

  • For Additional Information:

    Institutional Investors:
    C. Robert Pedraza
    Vice President, Corporate Strategy
    Altair Nanotechnologies Inc.
    775.856.2500
    Email Contact

    Individual Investors:
    Marty Tullio
    McCloud Communications, LLC
    949.553.9748
    Email Contact

    Media Relations
    Jeff Brunings
    Director, Strategic Marketing
    Altair Nanotechnologies Inc.
    775.856.2500
    Email Contact