Mar 9, 2006 (From the CalCars-News archive)
We don't generally send out every announcement about promising new battery developments, but we are including this one because, as Green Car Congress notes, we'recureently partnering with Electro Energy.
http://www.greencarcongress.com/2006/03/altairnano_and_.html#more Altairnano and Electro Energy to Partner on Lithium-Ion Batteries Green Car Congress 8 March 2006
Altair Nanotechnologies and Electro Energy have entered into a four-year Joint Development Agreement for the design, manufacture and marketing of high-power lithium-ion batteries and battery systems. Initial target markets consist of a variety of portable devices, including hand-held power tool applications.
Under the terms of the agreement, Altairnano and Electro Energy will jointly develop a new generation of rechargeable batteries based on Altairnano's advanced nano-structured electrode materials (earlier post) and Electro Energy's patented bi-polar cell design (earlier post).
Altairnano's rapid charge Lithium Titanate Spinel electrode nanomaterials promise a recharge time of approximately 30 to 45 minutes. Electro Energy's bi-polar design is more compact, exhibits higher power capability, and presumably will be lower in cost that the conventional cylindrical and prismatic designs.
Electro Energy is currently working with CalCars on a custom prototype battery pack based on the bi-polar NiMH batteries for use in CalCars's Prius+ plug-in hybrid testbed.
Both companies believe that the combined technologies will create a range of new lithium ion batteries that are expected to deliver improved functionality and cost performance.
Press Release Source: Altair Nanotechnologies, Inc. Altair Nanotechnologies Partners With Electro Energy to Develop and Manufacture New Generation, High Power Lithium Ion Batteries Wednesday March 8, 10:15 am ET
Targeting Portable Devices and Hand Held Power Tool Markets
RENO, NV and DANBURY, CT--(MARKET WIRE)--Mar 8, 2006 -- Altair Nanotechnologies Inc. (NasdaqSC:ALTI - News) and Electro Energy, Inc. (NasdaqSC:EEEI - News) today announced that they have entered into a four-year Joint Development Agreement for the design, manufacture and marketing of high power lithium ion batteries and battery systems. Initial target markets consist of a variety of portable devices, including hand-held power tool applications.
Under the terms of the agreement, Altairnano and Electro Energy will jointly develop a new generation of rechargeable batteries based on Altairnano's advanced nano-structured electrode materials and Electro Energy's patented bipolar cell design. Both companies believe that the combined technologies will create a range of new lithium ion batteries that are expected to enable, for example, hand-held power tool manufacturers to deliver end user products with improved functionality and cost performance. If the companies are successful in developing these new lithium ion battery products, power tools using these batteries are expected to weigh less, recharge in minutes versus hours, and have a significantly improved cycle life.
Sales of the new battery products will be governed by a marketing and sales agreement, the terms of which will be agreed upon by the parties.
"Altairnano's nano-structured lithium ion electrode materials provide an outstanding combination of performance properties including rapid charge, increased power, long life and safety," commented Altairnano President and CEO Alan J. Gotcher, Ph.D. "The Joint Development Agreement with Electro Energy presents both companies with considerable opportunities to capture markets demanding battery performance with significantly more power and energy in extreme environments. Electro Energy has strong relationships with leading manufacturers of cordless power tools as well as organizations within the military and aerospace industry. The battery performance requirements within these markets may provide excellent commercial opportunities for Altairnano's battery materials and products," added Gotcher.
"We currently manufacture and market batteries and battery packs for complex applications with high power battery requirements," said Electro Energy's President Michael E. Reed. "Over the last two years we have been developing lithium ion rechargeable batteries and we believe that Altairnano's innovative battery materials technology, integrated with our bipolar battery design, can provide a new generation of high power rechargeable batteries with highly desirable price and performance."
ABOUT ELECTRO ENERGY INC.
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bipolar nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. Electro Energy Inc. is developing high power lithium rechargeable batteries utilizing the Company's proprietary design. Electro Energy has announced plans to acquire significant manufacturing assets near Gainesville, FL, in early 2006 to accelerate commercialization of its battery technology. For additional information on Electro Energy visit www.electroenergyinc.com
ABOUT ALTAIR NANOTECHNOLOGIES INC.
Altairnano is a leading supplier and innovator of advanced ceramic nanomaterial technology. Based in Reno, Nevada, Altairnano has assembled a unique team of materials scientists who, coupled in collaborative ventures with industry partners and leading academic centers, have pioneered an array of intellectual property and products.
Altairnano's robust proprietary technology platforms produce a variety of crystalline and non-crystalline nanomaterials of unique structure, performance, quality and cost. Altairnano's two divisions, Life Sciences and Performance Materials, are focused on applications where its nanotechnology may enable new high growth markets. The Life Sciences Division is pursuing market applications in pharmaceuticals, drug delivery, dental materials and other medical markets. The Performance Materials Division is focused on market applications in advanced materials for paints and coatings, air and water treatment, and alternative energy including new Li Ion battery electrode materials. For additional information on Altairnano and its nanomaterials, visit www.Altairnano.com