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January 3, 2008 – Vol. 12 No.41 Altair Nanotechnologies Completes Battery Packs for Two Megawatt Battery System. The manufacturing of lithium-titanate battery packs to be used in a grid-connected energy storage system ordered by the AES Corporation was completed on schedule. Altairnano expects the $1 million system to be connected to the grid and tested during the first quarter of 2008. AES ordered the system in August 2007. Early in 2007, AES and Altairnano announced a joint development and equipment purchase agreement related to Altairnano’s battery and energy storage products. Under the terms of the agreement, the companies will jointly develop a suite of energy storage solutions specifically for AES. Altairnano is working with AES to apply these systems at strategic points within the electrical grid. The quick response time, extended life and power profile of the Altairnano batteries and energy storage products are well suited to improving performance in these areas with the potential for lower environmental impact than traditional generation solutions. (The grid-connected battery energy storage system will be able to store power generated f at off-peak hours, but not sold. Used at peak periods to meet demand, the utility can avoid building and operating other types of dispatchable power systems. The battery back-up will have no emissions.)
Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials including high-performance lithium-titanate battery and energy storage products. AES is one of the world's largest global power companies, with 2006 revenues of $11.6 billion. With operations in 28 countries on five continents, AES's generation and distribution facilities have the capacity to serve 100 million people worldwide. AES's 13 regulated utilities amass annual sales of over 73,000 GWh and its 121 generation facilities have the capacity to generate approximately 43,000 megawatts. AES has a global workforce of more than 30,000 people. (1/2/08)
Links: AES Corporation Altair Nanotechnologies Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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