Altairnano gets contract with U.S. Navy

Reno, Nev.-based Altair Nanotechnologies (Nasdaq: ALTI) announced today that it signed a $2.5 million contract to develop battery systems for the U.S. Navy.

Under the terms of the agreement, Altair Nanotechnologies, also known as Altairnano, will develop an optimized battery cell employing its nano-sized lithium titanate electrode materials for backup power for the Navy.

The company said it also plans to develop and demonstrate a modular system design for the use of its technology in multiple military applications.

"We are proud to be working with the U.S. Navy and assisting in the launch of a new class of battery backup systems for its fleet performance application," said Alan Gotcher, president and CEO of Altairnano.

"Warships, in particular, run two generators continuously, one to supply energy and one to provide a backup energy source. The fuel cost for the backup is staggering."

The company said the contract is funded as part of a $3.3 million Navy program that includes independent product testing by the Navy.

Gotcher said Altairnano would work with a Navy team to develop and commercialize the technology.

Altairnano develops nanomaterials for the alternative energy, life sciences and performance materials markets.

Gotcher has gone into detail with the Cleantech Group about the company's battery technology—read Altairnano power play.

Cleantech developments making news in the past 24 hours

• Metabolix, ADM to open new bioplastics factory
• Rockwool nears construction on Indian insulation factory
• Two Israeli wastewater firms to locate in Michigan
• Al Gore: Super grid is critical to combating the climate crisis
• A quest for CO2 and O2 optimal management with biofuel from algae

View the last week of cleantech developments here | Subscribe to full feed