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Advanced Battery Technologies Announces Successful Manufacturing Tests11 November 2005
Advanced Battery Technologies, Inc. (OTC BB: ABAT) announced today that the manufacturing and product tests using Altair
Nanotechnologies Inc.'s (NASDAQ: ALTI) nano-structured lithium titanate
spinel electrode materials have been successful. The company announced
further progress in its Polymer Lithium Ion Battery Development Program:
1. Advanced Battery Technologies has contracted with Harbin University of
Science and Technology to design the electrical controls and management
system for a sedan conversion using Altair's advanced nanotechnology
electrode materials in its lithium polymer batteries.
2. Advanced Battery Technologies also has entered into a cooperative
agreement with the Beijing Institute of Technology for the development
and testing of four electric buses to be built by Advanced Battery
as prototypes for the 2008 Olympic Electric Bus Program.
The all-electric buses will be manufactured using Advanced Batteries
polymer lithium ion batteries under Advanced Battery Technologies'
Cooperation Agreement with Beijing Institute of Technology ("BIT") for the
development of Easy Access, All Electric Buses. The prototype buses, to be
manufactured by Advanced Battery, are to be completed by the first half of
2006 with testing to be completed in August 2006. The results of the tests
of the prototypes will be used to determine the companies that will be
selected to supply the buses to be used in the 2008 Olympics.
"The buses will provide direct road test comparison of performance, cost,
and acceptability," said Advanced Battery Chairman, Zhiguo Fu. "The impact
of high power delivery, rapid recharge, and a long cycle life, will be
demonstrated in one of the buses using advanced nanomaterials from Altair
in the batteries. The use of Altair's electrode materials in our PLI
batteries," continued Mr. Fu, "will enable us to provide battery
performance that could present opportunities in new markets that would
benefit from batteries with fast charge and discharge times, superior life
cycle performance and improved life cycle economics."
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. The company has scalable manufacturing
capability to meet emerging nanomaterials demands. 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 lithium ion battery electrode materials.
For additional information on Altairnano and its nanomaterials, visit
www.altairnano.com.
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.
Forward-Looking Statements
This release may contain forward-looking statements as well as historical
information. Forward-looking statements, which are included in accordance
with the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, may involve risks, uncertainties and other factors that
may cause the company's actual results and performance in future periods to
be materially different from any future results or performance suggested by
the forward-looking statements in this release. These risks and
uncertainties include, without limitation, the risks that ABAT batteries
incorporating Altair's nanomaterials will not experience reduced recharge
time, will overheat or will otherwise not function as anticipated; that,
for financial reasons, absence of demand, the existence of better
technologies or other reasons, Advanced Battery will not order significant
amounts of Altair's nanomaterials in the future; that problems, if any,
with Advanced Battery's batteries integrating Altair's nanomaterials will
lead to a decline in industry interest in Altair's technologies; that the
short-term development agreement with Advanced Battery will not lead to a
long-term revenue-generating licensing, manufacturing or other agreement
with ABAT or others; and that, even if Altair enters into a long term
agreement with Advanced Battery or others, costs associated with performing
Altair's obligations under such agreement will exceed or approach
associated revenues. In addition, other risks are identified in the
company's most recent Annual Report on Form 10-K, as filed with the SEC.
Such forward-looking statements speak only as of the date of this release.
The company expressly disclaims any obligation to update or revise any
forward-looking statements found herein to reflect any changes in company
expectations or results or any change in events.
For Additional Information:
Advanced Battery Contact:
Ms. Lisa Liu
New York, NY
Phone: 917 767 0033
SOURCE: Altair Nanotechnologies, Inc.
Source: Marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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