Altair Finalizes Agreement with AES

Altair Nanotechnologies Inc. of Reno, Nevada, has finalized a joint development and equipment purchase agreement related to Altairnano’s battery

Altairnano and AES will jointly develop energy storage solutions specifically for AES that are expected to deliver in excess of 1MW of power and 500kWh of energy. Altairnano is working with AES to apply these products and systems at strategic points within the electrical grid to better deal with congestion, peak energy consumption, and real-time fluctuations in electricity demand. The response time, extended life and power profile of Altairnano’s batteries and energy storage products are well suited to improving performance in these areas.

Delivery to AES of the prototype products is scheduled for the end of this year.