SOURCE: Altair Nanotechnologies, Inc.

Altair Nanotechnologies, Inc.

December 08, 2010 07:00 ET

Altairnano Selected by El Salvador Utility to Provide 10 MW ALTI-ESS Advanced Battery System for Frequency Control

System to Be Located at Inversiones Energeticas (INE) Talnique Power Station

RENO, NV--(Marketwire - December 8, 2010) - Altair Nanotechnologies, Inc. (Altairnano) (NASDAQ: ALTI) (NASDAQ: ALTID), today announced it had been selected by Inversiones Energéticas, S.A. de C.V. (INE), one of El Salvador's largest electric utilities, to provide a turn-key 10 Megawatt ALTI-ESS advanced battery system for frequency control.

Altairnano has received a formal letter confirming that INE's Board of Directors has approved the proposed purchase of the 10 Megawatt ALTI-ESS system and authorized its management to move forward with negotiation of a definitive contract. Final contract terms are expected to be completed prior to year-end with construction of the system anticipated to begin in the first half of 2011. Under the proposed agreement, Altairnano will have responsibility for site preparation, system installation, training, final testing and commissioning of the total solution. The system will be located at INE's Talnique power station site.

The ALTI-ESS system, by providing frequency control for the grid, enables INE to better utilize its electricity generation facilities, while improving the overall electric grid reliability. "After a careful review, we concluded that the Altairnano solution provided the best means to improve our system reliability while lowering overall costs," said Nicolas Salume, Executive President of INE.

"Altairnano's ALTI-ESS advanced battery system provides an economical solution for managing voltage and frequency fluctuations, because of its ability to rapidly absorb energy from the grid, and just as quickly discharge energy back into the grid," stated Terry Copeland, Altairnano President and Chief Executive Officer. "We believe our lithium-titanate technology provides the best performance and life cycle in the industry, and this translates into the lowest total cost of operation for our customers," he added.

About Altairnano, 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. Altairnano's Lithium-Titanate based battery systems are among the highest performing and most scalable, with applications that include complete energy storage systems for use in providing frequency regulation and renewables integration for the electric grid, and battery modules and cells for transportation and industrial applications. 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 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 risk that a final definitive agreement will not be executed or closed as a result of a failure to agree on remaining terms, changes in circumstances or other reasons; that despite strong superior life cycle, charge and discharge results in testing, long-term commercial performance of the ALTI-ESS will not be superior to that of competing products as a result of unanticipated technical or performance issues, the emergence of a superior technology or other reasons. In addition, other risks are identified in Altairnano's most recent Annual Report on Form 10-K 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.

Contact Information

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