|
RENO,
NV--(MARKET WIRE)--Apr 4, 2005 -- Altair Nanotechnologies,
Inc. (NasdaqSC:ALTI - News) and Advanced Battery Technologies,
Inc. (OTC BB:ABAT.OB - News) a U.S. and Chinese-owned
company with factories in Harbin, People's Republic
of China, announced today that they have signed a
mutually exclusive development agreement for lithium
polymer batteries in China. This agreement covers
the incorporation of Altair's battery electrode nano-materials
into ABAT's existing polymer battery product lines.
Terms of the agreement were not disclosed.
Altair's
lithium ion battery electrode materials, which provide
rapid recharge cycles and potentially longer life
for rechargeable batteries, have generated interest
from U.S. and international battery manufacturers.
The agreement with ABAT specifically focuses on development
of high power, lithium polymer batteries for use in
electric vehicles. ABAT is China's leading high capacity
advanced lithium polymer battery supplier and has
been manufacturing high capacity batteries since 2003.
The company, with 1200 employees and projected revenues
of $40 million for 2005, manufactures lithium polymer
batteries that are used in electric buses, automobiles,
motorcycles and mining equipment. ABAT is completing
the installation and commissioning of their third
manufacturing line in Harbin, China.
"We
are very pleased to be teaming with Altair. We believe
that by using the Altair anode and cathode nano-materials
in our batteries, new markets will open up because
of the fast charge time," said Mr. Zhiguo Fu,
Chairman of ABAT. "And, the superior life cycle
performance of the electrodes will enable us to deliver
a more economical solution."
"ABAT
has built a reputation as a state-of-the-art polymer
lithium ion battery manufacturing company with their
focus on high capacity, environmentally friendly battery
designs," commented Altair Nanotechnologies CEO
Dr. Alan J. Gotcher. "In our first of multiple
market applications for Altair's nanotechnology-based
battery electrode materials, we are delighted to partner
with a company such as ABAT for the electric vehicle
market in China."
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, have 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 nanomaterials.
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 Inc. (ABAT)
ABAT
develops, manufactures and distributes rechargeable
Polymer Lithium-Ion (PLI) batteries. The Company's
products include rechargeable PLI batteries for mine-use
lamps, electric automobiles, motorcycles, cellular
phones, notebook computers, walkie-talkies and other
personal electronic devices. ABAT's batteries combine
high-energy chemistry with state-of-the-art polymer
technology, and overcome many of the shortcomings
associated with other types of rechargeable batteries.
The
Company began operations in September of 2002 and
has made tremendous progress in the past twenty months.
ABAT has gone from a startup, to a fully functional,
leading edge, technology driven, product development
and manufacturing company. ABAT has also accumulated
a roster of pending patents for its battery technology
and plans on developing additional unique energy related
products. The Company operates in the highest growth
sector of the battery industry, with PLI batteries
projected to account for one fourth of the market
for IT and communications devices by 2005.
Contact:
For Additional Information:
Marty Tullio or Mark Tullio
McCloud Communications, LLC
949.553.9748
marty@mccloudcommunications.com
mark@mccloudcommunications.com
|
