SOURCE: Altair Nanotechnologies Inc.
RENO, NV--(Marketwire - Mar 21, 2013) - Altair Nanotechnologies, Inc. (Altairnano) (NASDAQ: ALTI) has commissioned a 1.2 megawatt (MW) ALTI-ESS lithium-titanate battery system at a Danish wind farm supplied by Vestas Wind Systems A/S (Vestas), a global leader in wind power. The demonstration project is one of several initiatives currently using Altairnano's energy storage technology to advance renewable power integration.
Headquartered in Aarhus, Denmark, Vestas is the world's leading producer of wind turbines, having installed 47,000 turbines in 67 countries across five continents. Altairnano's system was installed at a wind farm in western Denmark -- a windy region with abundant renewable power potential. The project -- Vestas' second energy storage demonstration effort -- will seek to show the synergy of wind power and battery energy storage in today's global renewables landscape.
For Altairnano, entering Vestas' demonstration program is an opportunity to spotlight its energy storage solutions and demonstrate the ALTI-ESS's superior power, cycle life, and system performance. Altairnano recognizes the global importance of renewable energy and the value that advanced energy storage can supply to companies like Vestas.
"Lithium titanate-based energy storage can contribute significantly to the integration of wind power, especially in the area of power system stabilization," said Alexander Lee, chief executive officer of Altairnano. "We are confident that our work with Vestas will further validate the benefits of energy storage for wind power operators and utilities."
"For phase two of our demonstration project, Altairnano was selected because of its overall system design in the megawatt scale, and the good fit between storage media performance and our application," said Dr. Philip C. Kjaer, chief specialist at Vestas.
The ALTI-ESS system was first launched in the U.S. in 2008, has more than 4 years of commercial operation providing frequency regulation. Measurements taken at the time of installation, end of year one and end of year two validated that the battery performance is consistent with the expected life of more than 20 years operating 24 hours a day, seven days a week.
For more information on ALTI-ESS and Altairnano's other advanced energy storage solutions, please visit www.altairnano.com.
About Altairnano, Inc.
Altairnano is a leading provider of high-power, energy storage systems for the electric grid, industrial equipment and transportation markets. The company's lithium titanate technology is built on a proprietary nano-scale processing technology that creates high-power, rapid-charging battery systems with industry-leading performance and cycle life. Altairnano is headquartered in Reno, Nevada and maintains operations in Anderson, Indiana; Zhuhai, China; and Wu'an, China. For additional information, please visit: www.altairnano.com.
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 Altairnano'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 the order for the advanced battery system may not be completed because of technical, political, financial or other reasons; that even if the battery system is installed, it may not perform as expected for reasons related to the battery system, the power station into which it is installed, operational or maintenance failures or other reasons. In addition, other risks are identified in Altairnano's most recent Annual Report on Form 10-K and Annual Report on Form 10-Q filed with the SEC. Such forward-looking statements speak only as of the date of this release. Altairnano expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in Altairnano expectations or results or any change in events.