RENO, NV -- (MARKET WIRE) -- 01/17/2006 -- Altair Nanotechnologies Inc. (NASDAQ: ALTI) today announced that its battery research and development team successfully completed a testing program for lithium ion battery cells containing Altairnano's nano-structured lithium titanate electrode materials.
"The test results demonstrated that the performance of these lithium ion battery cells exceed the system-level power requirements set forth by the U.S. Council for Automotive Research FreedomCAR Energy Storage System Performance Goals for hybrid electric vehicle (HEVs), as well as those requirements published by major U.S. automakers," said Evan House, Ph.D., Program Director, Altairnano's Advanced Materials & Power Systems business unit. These power requirements can be viewed at: www.uscar.org/consortia&teams/consortiahomepages/con-usabc.htm
The battery cells using Altairnano's nano-structured lithium titanate electrode materials in battery cell tests developed for HEV applications demonstrate a useable state-of-charge range twice that of conventional nickel metal hydride (NiMH) batteries presently used in hybrid electric vehicles. Nano-structured lithium titanate electrode materials offer a near-term promise of lithium ion batteries that exhibit rapid charge and discharge, longer cycle life and more inherently safe performance than either currently available nickel metal hydride or lithium ion batteries. These results support the feasibility of a power lithium ion battery pack half the size of those currently being tested for HEV applications.
"We believe this phase of our testing program provides enough data to demonstrate that lithium-ion batteries utilizing our nano-structured battery electrode materials can have both the energy and power densities that exceed those of the nickel metal hydride (NiMH) batteries currently being used in HEVs," commented Altairnano President and CEO Alan J. Gotcher, Ph.D. "In our meetings with members of the automotive industry in the U.S. and abroad, we have been told that power-based lithium-ion batteries with the ability to discharge and charge rapidly, combined with greater cycle life and abuse tolerance, are desirable for the future of hybrid vehicles.
"This assessment," continued Dr. Gotcher, "was validated in the October 24, 2005, issue of Automotive News, when Japan's largest maker of nickel metal hydride batteries, used by Ford Motor Company and other carmakers of hybrid vehicles, stated that the future belongs to lithium-ion batteries. This sentiment was echoed in the article by Sanyo Electric Company, Toyota Motor Corporation, General Motors and Ford Motor Company executives."
The power of Altair's cell was first demonstrated and published in the September 2004 edition of the advanced energy industry standard, Journal of Power Sources. In that paper, authored by Dr. Du Pasquier and colleagues of the Rutgers University Energy Storage Group, battery cells using Altairnano's nano-structured battery electrodes demonstrated a three-minute full recharge and more than 9,000 cycles of sequential three-minute, 100 percent, recharges and discharges, validating the superior cycle life characteristics of Altairnano's nano-materials, when compared to traditional lithium ion batteries with a cycle life of 300 to 500 recharges and discharges.
The battery testing programs for applications targeting HEVs and electric vehicles are underway at a specially equipped facility located in the company's corporate headquarters in Reno, NV. Located in Anderson, Indiana, Altairnano's battery product application labs, with rapid prototyping and battery testing capabilities, is expected to be fully equipped and operational and to have its first battery cells manufactured by the end of January.
ABOUT ALTAIR NANOTECHNOLOGIES INC.
Altairnano is a leading supplier and innovator of advanced ceramic nanomaterial technology. Based in Reno, Nevada, Altairnano has assembled a unique team of materials scientists who, coupled in collaborative ventures with industry partners and leading academic centers, have pioneered an array of intellectual property and products.
Altairnano's robust proprietary technology platforms produce a variety of crystalline and non-crystalline nanomaterials of unique structure, performance, quality and cost. The company has scalable manufacturing capability to meet emerging nanomaterials demands. Altairnano's two divisions, Life Sciences and Performance Materials, are focused on applications where the company's nanotechnology may enable new high growth markets. The Life Sciences Division is pursuing market applications in pharmaceuticals, drug delivery, dental materials and other medical markets. The Performance Materials Division is focused on market applications in advanced materials for paints and coatings; air and water treatment, environmental sensing, and alternative energy -- including new lithium ion battery electrode materials. For additional information on Altairnano and its nanomaterials, visit 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, in subsequent laboratory testing or when used in prototype or production model HEVs, Altairnano's nano titanate spinel electrode materials will not exhibit anticipated characteristics; that, as Altairnano is developing its materials, competitors will develop materials that are comparable or superior for use in the HEV market; that the HEV market will contract or not expand as expected; or that, for reasons related to market timing, strategy, technology or other factors, manufacturers of HEVs will select batteries using other materials or other technologies for energy-efficient vehicles in the future. Altairnano's nano titanate spinel electrode materials are in the development stage and Altairnano can provide no assurance that development will proceed as projected or that its material will receive broad market acceptance. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K, 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.
24-Apr-2006
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MAAAAAAA
Posted by: J ljkjsdf
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26-Jul-2006
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as an automotive technician, i'd be more concerned about the safety side of using these new batteries in a hybrid, lithum-ion reactions are fairly violent if not controlled and batteries made with lithum-ion technology has been known to suffer literal meltdowns. Considering the wattage required to run a hybrid's electric motor, a meltdown of a lithum - ion battery with sufficent energy to run a hybrid could produce some serious safety concerns
Posted by: david d
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04-Feb-2006
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I'm not precisely sure what "rapid charge" means. Is it like Toshiba's new Li ion battery? Charges 80% in one minute? Or is it something less than this??
Posted by: Patrick Rask
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18-Jan-2006
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This is great news. Is 9000 cycles at 3 minute 100%charges too good to believe? I know I would be able to handle a car that I could plug in for 3-5 min to get it 100% charged.
Also, why would the author look at a new HEV battery as being twice as small? Why not look at it as being twice the charge for the same space and weight? Doesn't everyone want more power in the same size package?
Posted by: Cliff Trend
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19-Jan-2006
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This is exactly the type of technology everyone had been talking about. It has been said multiple times, 'The more we focus on electricity and invest in its R&D, the better the technology will be and the faster we can get away from buying foreign oil.' This technology isn't the end, it is a means to the end. This will keep going and we'll keep learning as long as the good Lord is willing to let us. This is wonderful news!
Posted by: Bob the Builder
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22-Jan-2006
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Yes in deed this is good news. But, in the 4-years I have been driving my BEV no new battery technology has been for sale in any consumer electronic devices I can buy. Even farther away for BEV's.
I have heard of a number of interesting engineering projects. The Plugin Prius, the Electovaya SUV, race cars, DOD hybrid hummve's, etc.
What's keeping the stuff out of the show rooms?
-- Brandy
Posted by: Dennis Brandenburg
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23-Feb-2006
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Patrick, you have it right. It is the same thing.
Posted by: Joseph Lado
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30-Jan-2006
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Here is another miracle nanotech lithium-ion battery, also developed using US tax dollars:
http://www.a123systems.com/html/news/articles/051102_pr.html
If these aren’t soon on the market (or at least in many qualified hands for testing to apply in products), then the equivalent of 'eminent domain' should be considered to get this sort of battery licensed for mass production - even against the will of the patent holders.
For example, the A123Systems battery has already been tested by Black & Decker for 2 years, yet the public sees no products.
I’m suggesting the possibility that the current patent holders are keeping such batteries off the market - to the detriment of the public.
Ironically, one of the main developers is from Asia (China) where poverty remains widespread, and where high imported oil prices literally take food out of peoples’ mouths.
Patents are about providing fair rewards and incentives to inventors, and not about strategically withholding desperately needed technology to fatten profits of plutocrats (as in oil companies and Iran).
American taxpayers can remain in the pockets of plutocrats, but the European Union, Japan, China, India, Brazil, etc. don’t have to be. Any and all others can declare their equivalents of eminent domain, override the patents, and mass produce such batteries – and the sooner the better.
Posted by: John Doerr
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