SOURCE: Altair Nanotechnologies, Inc.

June 29, 2005 13:41 ET

Altair Nanotechnologies Provides Project Updates

RENO, NV -- (MARKET WIRE) -- June 29, 2005 -- Altair Nanotechnologies, Inc. (NASDAQ: ALTI) today provided project updates in preparation for a conference call scheduled at 11:00 AM Eastern on Thursday, June 30, 2005. Management provides project updates so that investors have an opportunity to review project information and status of Altair's progress in moving its product technology to market prior to the conference call.

Altair Nanotechnologies Corporate Update

--  Altair held its annual Shareholder's meeting on May 26th, where the
    Shareholders elected its nominated Board of Directors.
--  Altair has begun the roll-out of its new corporate branding using
    "Altairnano" as the brand name.
--  Personnel were added to strengthen Marketing, Sales, Operations and
    Administration.
--  Altair continues to implement and test financial and information
    system controls for compliance with the Sarbanes-Oxley Act of 2002.
--  W. R. Hambrecht + Co initiated coverage of Altair Nanotechnologies on
    May 25, 2005.
--  The Maxim Group initiated coverage of Altair Nanotechnologies on June
    17, 2005.
--  Altair management is hosting a project update conference call,
    Thursday, June 30th at 11:00 AM Eastern. The dial-in number is
    973.935.2981.
    
Life Sciences Division
--  Altair has signed a lease for an additional 4,000 square feet of Life
    Sciences research and development space, with four state-of-the-art clean
    rooms complete with Class 100 environments and a full life sciences
    laboratory.
--  Division R&D personnel are being increased, initially adding one new
    chemist.
    
Pharmaceutical Products

RenaZorb™ Drug Candidates - Nanotechnology-based Phosphate Binding

--  RenaZorb™ is a lanthanum-based drug candidate for phosphate control
    in patients with end-stage renal disease (ESRD) and targets a $600 million
    market that is expected to grow to over $1 billion over the next four
    years. In the first quarter, Altair licensed to Spectrum Pharmaceuticals,
    Inc. rights for human pharmaceutical applications of RenaZorb™, which
    agreed to complete testing, seek required FDA approval and seeks to
    commercialize RenaZorb™. Spectrum is commencing additional in-life
    animal testing with RenaZorb™, which is expected to be completed this
    summer in preparation for a pre-IND meeting with the FDA in the fall.
--  The licensing of Renazorb as an animal indication is progressing with
    early commercial discussions underway.
    
Chemical Delivery Products

Altairnano TiNanoSphere™ Products

--  Initial target applications for TiNanoSpheres as a chemical delivery
    device have been identified and 3rd party investigation agreements are in
    negotiation. Applications for TiNanoSpheres as a drug delivery mechanism
    are targeted delivery of specific treatments to very localized areas of the
    human body, such as required with cancer therapy, and for cell-based immune
    response applications like viral vaccine delivery. We have hired a third-
    party research company to conduct research related to the delivery of
    vaccine adjuvants using TiNanoSpheres.
    
Performance Materials Division

Advanced Materials for Paints, Coatings and Sensors

Titanium Dioxide Pigment - Altair's Hydrochloride Pigment (AHP) Process

--  Altair is completing an 18-month Phase I feasibility study for Western
    Oil Sands to manufacture TiO2 pigment from tar sand tailings.
--  Discussions progress through Altairnano Bateman Titania with a number
    of companies in North America and emerging economic countries. These
    discussions could lead to one or more feasibility studies or early-stage
    licensing agreements by year's end.
    
Titanium Metal Manufacturing via Electrolysis Processing
--  Altair's development agreement with Titanium Metals Corporation
    (NYSE: TIE) provides Altair the opportunity to supply enough TiO2 micro
    porous electrodes to produce 50 pounds of titanium metal per day to
    meet the DARPA titanium project goals as outlined by the program. The
    project has been extended, and Altair is currently shipping materials
    to order.
    
Thermal Spray Grade Powders
--  In addition to the already shipping nominal amounts of titanium
    dioxide coating materials to F.W. Gartner, Altair has initiated marketing
    of its yttria stabilized zirconia coating powders into the industrial
    engine market and is in early-stage discussions with several parties.
    
Air and Water Purification Systems

Altairnano TiHPC Products for Photocatalytic Air Purification

--  Altair is partnering with Genesis Air to develop specialized surface
    activated nano-sized titanium dioxide compounds for use in HVAC air
    cleaning systems, specifically Genesis Air's Photocatalysis technology.
    There are currently 12 pilot sites worldwide.
    
NanoCheck™ Products for Removing Phosphate in Water
--  Field testing, focused on evaluating NanoCheck's effectiveness in
    providing an algae-free environment for swimming pools, is expected to be
    completed in the next few months, and contract negotiations with major pool
    chemical companies are underway in preparation for an end of year product
    launch.
    
High Performance Materials for Alternative Energy

Lithium Ion Battery Electrode Materials

--  Altair is in discussions with battery manufacturers, providers of
    battery material, hand tool manufacturers and companies within the
    automotive industry.
--  Altair is continuing to ship battery materials to its development
    partner, Advanced Battery Technologies. Advanced Battery's Phase l testing
    of batteries utilizing Altair's battery electrode provided significantly
    improved recharging capability. Additional anode materials are currently in
    production.
    
Hydrogen Generation Electrode Materials
--  Altair is halfway through a DOE sponsored program with UNLV on a
    hydrogen filling station project. Altair has an expanded, running solar
    simulation lab and has produced nanometer scale metal oxide electrode films
    for use in a photochemical hydrogen generation device.
    
ALTAIR NANOTECHNOLOGIES INC.

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

Altair Nanotechnologies has developed robust proprietary technology platforms for manufacturing a variety of crystalline and non-crystalline nanomaterials of unique structure, performance, quality and cost. The company has scalable manufacturing capability to meet emerging nanomaterials demands, with capacity today to produce hundreds of tons of nanomaterials.

Altair Nanotechnologies is organized into two divisions: Life Sciences and Performance Materials. The Life Sciences Division is pursuing market applications in pharmaceuticals, drug delivery, dental materials and other medical markets. The Performance Materials Division is pursuing market applications in Advanced Materials for paints and coatings; titanium metal manufacturing, catalysts, water treatment and alternative energy. For additional information on Altair and its nano-materials, visit www.altairnano.com

Altairnano™, Altair Nanotechnologies, Inc.®, RenaZorb™, NanoCheck™, TiNano Spheres™ and the Hydrochloride Pigment Process™ are trademarks or registered trademarks of Altair Nanotechnologies, Inc.

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 Altair's numerous development stage products will not be developed to the point of commercialization or that, even if commercialized, no market will exist for such products or Altair will fail to effectively market to customers in a market; that products subject to existing license agreements, including Altair's pigment process (AHPP) and RenaZorb, will not be commercially developed and, even if developed, will not generate significant royalty payments; and that Altair will not be able to enter into license agreement with respect to TiNano Sphere, Nanocheck, its battery electrode materials or other products that Altair expects industry partners to develop and market. In general, Altair is, and expects to be in the immediate future, dependent upon funds generated from sales of securities, grants, testing agreements, and licensing agreements to fund its testing, development and ongoing operations. 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.

Contact Information

  • For Additional Information:
    Investor and Financial Relations:
    Marty Tullio or Mark Tullio
    McCloud Communications, LLC
    949.553.9748
    Email Contact
    Email Contact

    Sales and Marketing:
    Roy Graham
    Altair Nanotechnologies, Inc.
    775.856.2500
    Email Contact