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Altair Nanotechnologies Inc. (ALTI) Reports Successful Results for Electric Grid Program

Altair Nanotechnologies Inc. (Nasdaq: ALTI) develops ceramic nanomaterials for alternative energy products, life sciences and performance materials markets based on its proprietary manufacturing process. The company’s advanced battery pack systems are used in stationary applications, as well as electric and hybrid-electric vehicles.

Altair today announced the successful completion of its demonstration and validation program for a two-megawatt, 500 kilowatt-hour battery system purchased by AES Corp. (NYSE: AES), one of the largest global power companies in the world. With operations in 29 countries on five continents, AES has the capacity to serve 100 million people worldwide.

Altair’s program was developed by KEMA Inc. and carried out by AES. Results showed the battery system successfully demonstrated applicability met the program’s milestones, which was conducted to demonstrate the applicability of Altair’s large platform technology to frequency regulation, which is a key service provided by power plants to the electric grid.

“The positive AES results validate the immense opportunities in the utility sector,” Terry Copeland, president and CEO for Altair stated in the press release. “Our patented lithium titanate battery technology represents a significant advancement in frequency regulation and can provide utilities and generating companies with a valuable tool and resource in the growing challenge of grid management.”

Altair and AES teamed up in 2007 to provide more efficient management of energy quality, frequency control and real-time energy fluctuations in milliseconds at grid level. For AES, the program’s results leverage its efforts for grid energy storage.

“We are pleased with the results of the Altairnano units. This two megawatt validation project is one of the final steps in our move towards commercial deployment of grid-scale energy storage,” said Chris Shelton, director of Energy Storage Development at AES. “Fast-responding, high-efficiency energy storage systems such as these will create a more resilient grid and allow for increased use of variable generating sources such as wind and solar.”

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