SOURCE: Altair Nanotechnologies Inc.

Altair Nanotechnologies Inc.

June 24, 2009 09:45 ET

Altairnano Chief Applications Engineer, Grid Stabilization Products, Elected to Electricity Storage Association Board of Directors and Appointed to Key IEEE Smart Grid Workgroup

RENO, NV--(Marketwire - June 24, 2009) - Altair Nanotechnologies Inc. (Altairnano) (NASDAQ: ALTI), a leading provider of energy storage systems for clean, efficient power and energy management, announces that its chief applications engineer for grid stabilization products was elected to the Electricity Storage Association Board of Directors, as well as named to an IEEE working group addressing a critical initiative to develop smart grid standards.

The Electricity Storage Association (ESA) promotes the development and commercialization of competitive and reliable energy storage delivery systems for use by electricity suppliers and their customers. Altairnano Chief Applications Engineer for Grid Stabilization Products, Chet Sandberg, P.E., was elected to a two-year term on the board, and will serve on ESA's Finance Committee.

Sandberg will also represent Altairnano on an IEEE (Institute of Electrical and Electronics Engineers, Inc.) standards working group, P2030, which will provide a knowledge base for understanding and defining smart grid interoperability of the electric power system with end-use applications and loads. According to IEEE, P2030 will define key elements of the modernized grid, and accelerate progress in making the smart grid a reality. Sandberg is a member of the Power Engineering Technology Task Force 1.

"This is one of the most exciting times to be part of the energy industry," Sandberg said. "The challenges associated with grid instability, renewable integration and other issues are formidable, but our technology, and its distinctive performance attributes, is ideally suited to solve them. I'm pleased that my involvement with ESA and IEEE will help accelerate the adoption of advanced technologies."

Sandberg is a nationally recognized electrical and mechanical engineer with an impressive 40-year track record in advanced technology innovation, development and commercialization. For more than three years, Sandberg has been actively involved in the development of Altairnano's utility-scale power storage solutions for grid stabilization and renewable integration applications.

Named an IEEE fellow in 2000 for his contributions to electrical heat tracing for industrial and commercial applications, Sandberg holds two professional engineering licenses in the state of California, has been awarded 21 patents and has published more than 50 technical papers on energy storage, electric heat tracing, fiber optics, sensor technology and other topics. Sandberg received a BS in Mechanical Engineering from the Massachusetts Institute of Technology and a MS in Electrical Engineering from Stanford.

"Chet is a nationally recognized engineer, and these appointments are further recognition of his outstanding career," said Terry Copeland, Ph.D., Altair Nanotechnologies' Chief Executive Officer. "The ESA and IEEE are both heavily engaged in moving forward new developments, such as Altairnano's Energy Storage System, to improve the efficiency and stability of the grid. We are pleased that Chet will be more intimately involved with both organizations."

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 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