SOURCE: Altairnano

Altairnano

October 13, 2009 12:56 ET

Altairnano to Conduct Nanosensor Research for the U.S. Army

RENO, NV--(Marketwire - October 13, 2009) - Altair Nanotechnologies, Inc. (NASDAQ: ALTI), a leading provider of energy storage systems for clean, efficient power and energy management, today announced it has signed a research agreement with the U.S. Army RDECOM Acquisition Center for a cost reimbursement contract that could be worth up to $1.75 million. The terms of the contract were signed on September 3, 2009 and run through September 2, 2010.

Under the agreement, Altairnano will conduct primary research of sensitive and selective nanosensors in order to determine how single sensing molecules combined with nanoparticles respond to airborne nerve agents and toxic industrial chemicals. Altairnano will also work on incorporating the technology into a portable sensing device that could one day help to protect men and women of the U.S. Army from the threat of chemical weapons.

"This is another important milestone in our work with the military," said Terry M. Copeland, Altairnano's CEO. "We believe Altairnano's technologies are uniquely positioned to help the U.S. Army in the development of portable, life-saving sensors that could one day be utilized on the battlefield. Altairnano is proud to help improve the effectiveness and safety of the men and women defending our nation."

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 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 the company's actual plans, results and performance in future periods to be materially different from any plans, future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the risks that the research referred to in this release may be unsuccessful, that even if the research is successful, 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:
    Brion D. Tanous
    CleanTech IR, Inc.
    310-541-6824
    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