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Altairnano Nanotechnologies, Inc (ALTI) Signs $2.5 Million U.S. Navy Contract

Altair Nanotechnologies, Inc (ALTI), a leading provider of advanced nanomaterials technology, announced that the company has signed a $2.5 million contract with the United States Navy. This contact specifies that the US Navy will utilize Altair’s battery backup power systems in varying Naval applications.

Under the terms of the contract, Altair is to develop an optimized battery cell that will utilize the company’s nano-sized lithium titanate electrode materials. Once the development of this battery cell is complete, Altair is to present the performance and safety attributes of the cell. This contract, valued at $2.5 million, is funded as part of a $3.3 million United States Navy program that includes independent product testing by the Navy.

Dr. Alan Gotcher, CEO, stated, “This is a validation test program for our new disruptive battery technology. We are proud to be working with the U.S. Navy and assisting in the launch of a new class of battery backup systems for its fleet performance application. Warships, in particular, run two generators continuously, one to supply energy and one to provide a backup energy source. The fuel cost for the backup is staggering. We look forward to working with the Navy team in developing and commercializing our product technology.”

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