This was an investment announced quite awhile awhile ago, but it’s being announced this morning that the $57 million investment in Altair Nanotechnologies (ALTI) by Canon Investment Holdings is finally closing.  The investment will result in a majority ownership stake for Canon, but it was necessary for ALTI to survive and make a run at a big push in the China market.

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Canon chairman Wei Yincang added, "The investment in Altairnano represents an important milestone for both companies to significantly grow our businesses and accelerate the commercialization of the Altair lithium-titanate technology."

Technically, shares of ALTI are much improved after a big two day surge.  Shares are now trading above the 50 day moving average again and a pull back to this new support area around the $1.20 may offer a nice trade opportunity.