Altair Nanotechnologies (ALTI) To Fill $54,000 Order For Hybrid Battery Packs From DesignLine International

Altair Nanotechnologies announced today that DesignLine International has placed an order for 4 of their hybrid electric vehicle (HEV) battery packs, at a total cost of $54,000. Altair will supply Designline International with the battery cells, assemble them into working battery modules, and train Designline International’s employees to assemble future products from Altair on their own. The initial 4 battery packs will be used on city transit buses and for a modular testing program.

Altair’s CEO Terry M. Copeland called the deal an initial first step in getting Altair’s products to a wider commercial market, saying
"This key, initial milestone in our HEV commercialization strategy leverages the distinctive value our technology can bring to the mass transit sector. With the completion of a successful demonstration program, we can anticipate an initial ramp-up of orders from DesignLine in 2009. We are aggressively pursuing similar opportunities in the mass transit sector and fully expect to have more customer wins with our enabling technology."

Meanwhile, DesignLine International CEO Brad C Glosson praised Altair and their product, saying

"The Altair lithium titanate cell technology in our proprietary battery design is particularly well suited for the DesignLine EcoSaver IV Hybrid System allowing the delivery of a superior performing product to our mass transit customers. The selection of Altair battery cells for the company’s hybrid demonstration buses was based on meeting four key criteria: the high energy capturing efficiency of the cells; its energy density to weight capability; the cell’s ability to rapidly charge and discharge in temperatures ranging from -40 degrees C to +55 degrees C; and a long cycle life that complements our technically advanced vehicle platform."

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