NV -- (MARKET WIRE) -- 04/19/2005 -- Altair Nanotechnologies,
Inc. (NASDAQ: ALTI) announced today the initial shipment
of battery electrode nanomaterials to Advanced Battery
Technologies, Inc. (OTC BB: ABAT) that will be used
in the manufacture and testing of prototype polymer
lithium batteries. Advanced Battery designs and markets
Polymer-Lithium-Ion (PLI) batteries that are manufactured
in its subsidiary, based in Harbin, China. Altair previously
announced a partnering agreement with ABAT on April
Altair and Advanced Battery
have formed a partnership and agreed to test Altair's
electrode materials for use in new, higher performance
Polymer-Lithium-Ion (PLI) batteries to be manufactured
by Advanced Battery for sale in China. These new batteries
are being tested by the partnership to meet an emerging
need for higher power, lighter weight and more rapidly
recharging batteries to power a new generation of
higher performance, electrically powered vehicles,
including automobiles and buses.
A multi-phased material and
battery performance testing program is being designed
and conducted to refine the product and process specifications
for the electrode materials and new battery products.
Altair's electrode nanomaterials will be incorporated
into Advanced Battery's current PLI battery production
lines. The batteries will be tested in standard battery
test protocols and in real-world tests using electric
vehicles (i.e. cars and buses) in 2005.
"Advanced Battery's current
Polymer-Lithium-Ion (PLI) battery permits a top speed
of 75 mph for cars and 62.5 mph for buses and a traveling
distance of approximately 200 miles per charge for
cars and 150 miles for buses," commented Mr.
Zhiguo Fu, Chairman of Advanced Battery.
Using Altair's rapid charge
electrode nanomaterials in PLI batteries, Altair believes
that the typical battery life cycle of 1,000 recharge
cycles before any degradation of performance can be
increased to 20,000+ cycles. In addition to improving
the battery cycle life, the recharge time is expected
to be reduced, depending on battery size and power.
These features may provide improved operational efficiency
and lower operating costs for electric powered vehicles.
Altair's nanomaterials can be used in PLI and other
lithium ion batteries extending the product range
and the use of these materials to other geographic
"The relationship with
Advanced Battery is important to Altair's long-term
strategy, as it provides Altair with an aggressive
battery manufacturing partner in a rapidly growing
market -- polymer lithium ion batteries in China,"
said Dr. Alan J. Gotcher, Altair CEO and President.
"Lithium ion and polymer lithium ion batteries
have historically been manufactured in Japan. However,
over the last three years a significant shift has
occurred due to lower cost manufacturing in China,
which now produces about 30 percent of the worldwide
$5-billion-a-year lithium battery supply. As well
as providing Altair with an entry into this burgeoning
market, the relationship with Advanced Battery provides
our development team with additional insight into
the requirements of a battery manufacturer with a
low-cost production infrastructure."
ALTAIR NANOTECHNOLOGIES INC.
Altair Nanotechnologies, through
product innovation, is a leading supplier of advanced
ceramic nanomaterial technology worldwide. Altair
Nanotechnologies has assembled a unique team of material
scientists who, coupled with collaborative ventures
with industry partners and leading academic centers,
has pioneered an impressive array of intellectual
property and product achievements.
Altair Nanotechnologies has
developed robust proprietary technology platforms
for manufacturing a variety of crystalline and non-crystalline
nanomaterials of unique structure, performance, quality
and cost. The company has a scalable manufacturing
capability to meet emerging nanomaterials demands,
with capacity today to produce hundreds of tons of
The company is organized into
two divisions: Life Sciences and Performance Materials.
The Life Sciences Division is pursuing market applications
in pharmaceuticals, drug delivery, dental materials,
cosmetics and other medical markets. The Performance
Materials Division is pursuing market applications
in Advanced Materials for paints and coatings; titanium
metal manufacturing, catalysts and water treatment;
and alternative energy. For additional information
on Altair and its nano-materials, visit www.altairnano.com
Altairnano™, Altair Nanotechnologies,
Inc.®, Altair Nanomaterials™, Altairnano™ TiNano®,
RenaZorb™, NanoCheck™, TiNano Spheres™ and the Hydrochloride
Pigment Process™ are trademarks or registered trademarks
of Altair Nanotechnologies, Inc.
ADVANCED BATTERY TECHNOLOGIES,
Advanced Battery announced
on April 12, 2005, that it has completed an expansion
of a 30-acre manufacturing site in Harbin, China.
This provides Advanced Battery with 340,000 square
feet of battery manufacturing capacity, with three
battery manufacturing lines, and a production capacity
of 50,000AH, and $100,000 in volume, per 8-hour shift.
As a result of the new capacity additions, Advanced
Battery has increased its China-based staff from 360
employees in December 2004 to 1,260 as of April 5,
2005, according to Advanced Battery and the local
city Labor Department records. These 1,260 employees
include 120 engineers and 49 research staff with advanced
degrees. Photographs of their facility can be found
on the Altair Web site at www.altairnano.com
For Additional Information:
Marty Tullio or Mark Tullio
McCloud Communications, LLC