January 9, 2008 — Altair Nanotechnologies Inc. (NASDAQ: ALTI), which makes high-performance lithium-titanate battery and energy storage products, has completed the manufacture of battery packs to be used in a 2-megawatt energy storage system purchased by AES Corp.
The $1 million purchase made by AES was previously announced in August 2007. Altairnano expects the battery packs to be connected to the grid and tested jointly by AES and Altairnano during the first quarter of 2008.
“This is a significant manufacturing milestone in Altairnano’s battery and energy storage go-to-market strategy,” said Altairnano President and CEO Alan J. Gotcher. “We believe that stationary power represents a large market opportunity for Altairnano, and are proud to be working with global power leader AES to develop these large-scale energy storage systems.”