ABAT reported strong 3rd quarter results today. Revenue jumped from $8.6 million dollars in the 3rd quarter of 2007 to $12.7 million in the third quarter of 2008-an increase of 47.7%! Gross profit also increased substantially, from $4.0 million last year to $5.9 million this year, an increase of 47.8%. Net income increased from $3.6 million or $0.07 per diluted share in the third quarter of 2007 to $4.4 million, or $0.08 per diluted share … Read the rest
Category Archives: Lithium Batteries
Third Quarter Financial Results In For Altair Nanotechnologies (ALTI)
Altair Nanotechnologies released its 3rd quarter results this morning. The company’s revenues have decreased significantly from the third quarter of last year. This year, revenues were $1.80 million. This time last year, the company reported revenues of $3.37 in the third quarter. Altair also reported an increased net loss of $9.11 million, or 11 cents per share, up from last year’s net loss of $6.13 million, or 9 cents a share.
The company’s cash … Read the rest
Johnson Controls-Saft (JCI) Lithium-ion Batteries To Be Used In BMW Hybrid
Johnson Controls-Saft, a joint venture between Johnson Controls, which makes car batteries, and Saft, which makes high-technology lithium-ion batteries, has just announced that its lithium-ion batteries will be used in the new BMW 7 Series ActiveHybrid car. The batteries will be produced at the company’s new facility in Nersac, France. The facility was designed to be easily expandable as demand for the product increases.
Mary Ann Wright, who leads the joint venture, stated that "Johnson … Read the rest
Altair Nanotechnologies Inc (ALTI) Announces Development Of New Lithium Battery
Altair Nanotechnologies, Inc, announced that it has completed the 500th full depth cycle of a lithium titanate battery that the company developed under contract with the U.S. Navy. In testing, the battery was shown to have only lost 1% of its capacity, a stunning result that highlights the long life of the new battery technology. When testing is complete, the batteries will be used on Navy destroyers and other vessels instead of a back-up … Read the rest
Advanced Battery Technologies (ABAT) Appoints Dr.Suiyang Huang To The Position Of Chief Technology Officer
Advanced Battery Technologies, a company that manufactures rechargeable polymer lithium-ion batteries, named Dr. Suiyang Huang as their new Chief Technology officer today. Dr. Huang’s responsibilities will include upgrading existing ABAT products and production processes, managing technology standards and production procedures, and developing new and better rechargeable battery products.
Dr. Huang seems eminently qualified for the position. He has a PHD from Universite de Bordeaux,has published over 30 papers, and holds 7 US and 20 Chinese … Read the rest
Electric Bikes Are All The Rage in China
While searching for green stocks its important to follow green trends. The Economist reports that "China’s increasingly affluent citizens may not all be able to afford cars just yet. But they clearly yearn for some motive power beyond that provided by their two legs. The standard bicycle, synonymous with mass transport in China, is not enough for everyone. Over the past few years electric bikes, with small motors that give a little help to the … Read the rest
Altairnano (ALTI) Reports Another Loss, But Beats Estimates; Announces Army Contract
Altair (ALTI) the lithium battery maker for electric cars reported another quarterly loss of .07/share but beat estimates by a couple pennies on revenue of 1.9 million (vs consensus of 1.65 million).
Today, the company also announced a $350,000 contract with the US Army to deliver prototype batteries for use in the Army’s M119 105mm lightweight gun digitization program. Altair’s batteries can operate in extreme conditions with rapid charging capabilities and a long life.
Delivery … Read the rest
Altair Nanotechnologies (ALTI) Announces Successful Demo of Lithium Battery
Altair (ALTI), announced today the successful demo and validation of two 250 kilowatt-hour battery system that was purchased by a leading utility AES Corp (AES). The testing was conducted to demonstrate the applicability of Altair’s large platform technology to frequency regulation, important in the process of utilities providing power to the electric grid.
"The positive AES results validate the immense opportunities in the utility sector," said Terry Copeland, President and CEO for Altair Nanotechnologies. "Our … Read the rest