Further Confirmation of Altair's Breakthrough Material For Rechargeable Lithium Ion Batteries
RENO, Nev., Nov. 1 /PRNewswire/ -- Altair Nanotechnologies Inc. (Nasdaq: ALTI - news) announced today that world renown battery expert, Dr. K. M. Abraham, independently confirmed that Altair's proprietary Li4Ti5O12 nanomaterials have made it possible to achieve lithium ion charging and discharging rates 10 to 100 times higher than with materials commercially available today. According to Abraham, capacities close to the theoretical values can be obtained from these materials at exceptionally high rates making the Altair materials suitable for the development of high power, rechargeable lithium ion batteries. Altair currently has six patents pending and has filed for a patent application relating to its unique Li4Ti5O12 nanomaterials.
Dr. Abraham noted that the lithium ion battery has many advantages over three water-based electrolyte systems and, because of these advantages, lithium ion batteries are increasingly becoming the battery of choice for portable consumer products such as cellular telephones and notebook computers. ``As result of the proliferation of these and other portable consumer products,'' continued Abraham, ``the rechargeable lithium ion battery business is expected to generate tens of billions of dollars in sales in the not too distant future.''
A potential market for Li4Ti5O12-based rechargeable lithium ion batteries is the replacement of the lead-acid and nickel-cadmium batteries currently used in automotive traction (golf carts, fork lifts, wheel chairs and bicycles), uninterrupted power supplies (UPS) in the telecommunications industry, and in various military applications. These applications are aided by the fact that nano-sized Li4Ti5O12-based lithium batteries have the ability to undergo charge/discharge cycles with little fade in capacity for thousands of cycles. Other potential markets for Li4Ti5O12-based lithium ion batteries are as power sources for hybrid electric vehicles and for the fabrication of high-power hybrid electrochemical cells.
``We are excited about the potential utilization of Altair's nanomaterial Li4Ti5O12 in lithium ion batteries,'' said Altair Nanomaterials Inc. president Kenneth E. Lyon (www.altairtechnologies.com). ``This presents a significant opportunity for Altair and we plan to aggressively pursue marketing opportunities for this unique proprietary material.'' To provide the additional working capital needs to pursue these opportunities, an individual investor with a substantial share position is exercising re-priced warrants. To date, Altair has received $250,000 from the exercise of these warrants and, assuming all re-priced warrants are exercised, the company will receive a total of approximately $700,000.
About K. M. Abraham, Ph.D.
Dr. Abraham has made pioneering scientific contributions in primary and secondary lithium batteries, lithium ion batteries, liquid and polymer batteries, rechargeable Na batteries, materials synthesis and characterization and battery engineering. Dr. Abraham has authored or co-authored more than one hundred articles and book chapters and sixteen U.S. patents. He has delivered numerous invited presentations at technical meetings worldwide. He is the recipient of honors and awards including the Battery Division Research Award for Rechargeable Lithium Battery Team, 1995. He has been elected a fellow of the Electrochemical Society, Class of 2000.
Dr. Abraham reviewed a report prepared by principal investigator Dr. Ladislav Kavan of the J. Heyrovsky Institute, Prague Czech Republic performed at the Ecole Polytechnique Federal de Lausanne (EPFL), under the general direction of Dr. Michael Gratzel.
What is Li4Ti5O12
Lithium Titanate Spinel is a specific crystalline phase of lithium titanate with a formula of Li4Ti5O12. Altair's process produces Lithium Titanate Spinel of nearly 100 percent purity. Li4Ti5O12, Lithium Titanate Spinel, is expected to revolutionize the battery industry through its ability to provide lithium ion batteries with extremely fast recharging capability as well as a high power and a long cycle life not found in today's lithium ion batteries. Altair is currently the only company capable of manufacturing economically priced commercial quantities of 100 percent nano Lithium Titanate Spinel.
About Altair Nanotechnologies Inc.
Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies' corporate goal is to position itself through product innovation within this emerging industry as a leading supplier of nanomaterials worldwide. Altair owns a proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities. The company is currently developing special nanomaterials with potential applications in fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional technical information on Altair's nanoparticle materials, visit www.altairtechnologies.com. For general information and news releases regarding Altair and its products, visit www.altairint.com.
Safe Harbor
This press release contains certain forward-looking statements with respect to Altair that are subject to risks and uncertainties that include, but are not limited to, Altair's ability to obtain necessary capital to finance the growth of the company, performance and reliability of its technology, market acceptance of products using Altair technology, variance in anticipated production costs and unanticipated effects of regulatory requirements related to the technology, as well as those risks identified in the Company's press releases or discussed from time to time in the Company's SEC filings. Actual results may vary materially.
For further information, please contact: Tracy LaFollette of Altair Nanotecnologies, +1-307-587-8245, tracycody@aol.com; or Paul Savageau of Savageau & Assoc., +1-303-756-8045, psavageau@netscape.net; or Marty Tullio, Investor Relations, +1-949-566-9860, marty@investorRR.com, both for Altair Nanotecnologies.
SOURCE: Altair Nanotechnologies Inc. |
