Altair Nanotechnologies (ALTI) Ships 40 Lithium Ion Batteries to US Army

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10:41:45 am on April 22, 2009

Altair Nanotechnologies (ALTI) is announcing this morning it has shipped 40 advanced lithium ion battery systems to the US Army as part of a testing program to improve performance reliability and safety of the M119 gun batteries.  The testing is expected to continue through the summer. If the tests are successful, Altair’s batteries could be used in a wide array of other military applications.

“Altairnano’s advanced battery systems exhibit the widest operating temperature ranges and highest abuse tolerance of any lithium-ion battery available today,” said Terry Copeland, president and CEO, Altairnano. “The projected long-life of the batteries is also an important attribute, which is expected to help the military replace batteries less often than shorter-lived, conventional lithium-ion batteries.”

ALTI has looked increasingly bullish in the last month and is currently carving out a bullish wedge formation on the daily chart.  It’s up nearly 8% with volume today. 

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