SOURCE: Altair Nanotechnologies, Inc.

August 12, 2005 07:15 ET

Altair Nanotechnologies Receives Order for Li-Ion Battery Electrode Nanomaterial for PLI Batteries

One Metric Ton Order From Advanced Battery Technologies for Lithium Titanate Spinel Electrode Nanomaterials

RENO, NV -- (MARKET WIRE) -- August 12, 2005 -- Altair Nanotechnologies Inc. (NASDAQ: ALTI) announced today the receipt of a 2,200 pound (1 metric ton) order for lithium titanate spinel electrode nanomaterials from Advanced Battery Technologies, Inc. (OTC BB: ABAT).

The twenty-two hundred pounds (1,000 Kgs) of anode electrode nanomaterials, manufactured at Altairnano's facilities in Reno, NV, are to be shipped in September for Advanced Battery's development program for polymer lithium Ion (PLI) batteries for electric vehicles. The developmental PLI batteries will be tested in standard battery test protocols and in real world road tests in one electric bus and one electric sedan.

"This is a very important step in the application and commercialization of Altairnano's electrode nanomaterials," said Alan Gotcher, PhD, President and CEO, Altair Nanotechnologies. "For the first time, our electrode materials will be incorporated into batteries for testing in an electric vehicle application."

"We've been very pleased with the enhancement in battery performance using Altairnano's electrode nanomaterials," commented Mr. Zhiguo Fu, Chairman of ABAT. "We are moving quickly to develop the new PLI batteries and to bring our batteries to the electric vehicle market."

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. The company has scalable manufacturing capability to meet emerging nanomaterials demands, with the production capacity of hundreds of tons of nanomaterials.

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

ABOUT ADVANCED BATTERY TECHNOLOGIES, INC

Advanced Battery Technologies, Inc., founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. Advanced Battery's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other personal electronic devices. Advanced Battery's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. The Company has a New York office, with manufacturing facilities in China. For more information about Advanced Battery Technologies, Inc. (ABAT), please visit: http://www.zqpt.com/zqenglish/index.htm

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 Advanced Battery batteries incorporating Altair's nanomaterials will not experience reduced recharge time, will overheat or will otherwise not function as anticipated; that, for financial reasons, absence of demand, the existence of better technologies or other reasons, Advanced Battery will not commercialize a battery for the electric vehicle market or will not order significant amounts of Altair's nanomaterials in the future; that problems, if any, with Advanced Battery's batteries integrating Altair's nanomaterials will lead to a decline in industry interest in Altair's technologies; that the short-term development agreement with Advanced Battery will not lead to a long-term revenue-generating licensing, manufacturing or other agreement with ABAT or others; and that, even if Altair enters into a long term agreement with Advanced Battery or others, costs associated with performing Altair's obligations under such agreement will exceed or approach associated revenues. 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