Key Developments: Altair Nanotechnologies Inc (ALTI.PH)
0.70USD
27 Aug 2012
$-0.01 (-1.14%)
$0.70
--
$0.67
$0.64
25,050
30,611
$1.48
$0.40
Latest Key Developments (Source: Significant Developments)
Altair Nanotechnologies Inc Secures Contract
Altair Nanotechnologies Inc announced that it was awarded a firm contract with the Hawai'i Natural Energy Institute (HNEI) of the University of Hawai'i at Manoa to supply a 2-Megawatt (MW) ALTI-ESS Advantage energy storage system for a grid stability demonstration project. HNEI selected Altairnano and the ALTI-ESS Advantage after two prior energy storage system purchases focused on renewable energy integration. Full Article
Altair Nanotechnologies Inc and EnerDel Sign Strategic Joint Memorandum of Understanding
Altair Nanotechnologies Inc and EnerDel, Inc., two providers of energy storage solutions, announced that they have signed a strategic memorandum-of-understanding (MOU) to co-market and cross-sell each others' product portfolios. Each company will now be able to offer a much broader line of lithium-ion-based energy storage systems (ESS) from individual cells and modules to complete systems that offer multiple chemistries and technologies to meet the needs of their respective customers. This agreement is effective immediately, and the companies will start representing each others' products as part of their regular sales efforts in the coming weeks. Full Article
Altair Nanotechnologies Inc Signs Memorandum Of Understanding With Shenhua Science & Technology And National Institute Of Clean And Low Carbon Energy
Altair Nanotechnologies Inc announced that it has signed an agreement with Shenhua Science & Technology (Shenhua S&T) and research affiliate, the National Institute of Clean and Low-carbon Energy (NICE), to jointly develop, deploy and promote industrial applications of lithium titanate-based energy storage systems in China. Shenhua S&T and NICE are both subsidiaries of the Shenhua Group. The companies signed a memorandum of understanding (MOU), which calls for the launch of a pilot project to deploy and test an Altairnano ALTI-ESS Advantage System at one of Shenhua's wind farms in China. Under the terms of the MOU, the parties have formed a joint working group, which will define the scope of the pilot project. Key goals of the pilot project include the development of ancillary services for the grid, the storage of electricity in off-peak hours, especially from renewable sources of energy, and grid stabilization. Full Article
Altair Nanotechnologies, Inc. Announces Management Change-Form 8-K
Altair Nanotechnologies, Inc. reported in its Form 8-K that on April 1, 2012, the Board of Directors appointed Alexander Lee as the interim Chief Executive Officer (CEO) of the Company. On April 1, 2012, the Board of Directors of the Company appointed Liming Zou (a/k/a Albert Zou) as the President of the Company. Mr. Gibbard's employment with the Company terminated on April 2, 2012. Pursuant to an agreement regarding the resignation of Mr. Gibbard as President, Chief Executive Officer and a director of the Company, Mr. Gibbard has agreed to provide consulting services to the Company for a period of six months. Full Article
Altair Nanotechnologies, Inc. Announces Management Change
Altair Nanotechnologies, Inc. announced that Dr. H. Frank Gibbard had been appointed President and Chief Executive Officer (CEO), replacing Terry Copeland, and that Stephen B. Huang had been appointed Vice President and Chief Financial Officer (CFO), replacing John Fallini. Both Gibbard and Huang were appointed at a special Board of Directors meeting on September 17, 2011, assuming their new positions effective September 18, 2011. Full Article
Altair Nanotechnologies, Inc. Extends Agreement With Inversiones Energeticas S. A. DE C. V.
Altair Nanotechnologies, Inc. announced that it has reached an agreement with Inversiones Energeticas S. A. DE C. V. (INE) to extend its current contract to supply a 10 Megawatt ALTI-ESS system for the El Salvador Electric Grid. The contract extension was granted to permit both INE and Altairnano the time needed to conclude work necessary to obtain regulatory approval for the introduction of energy storage within El Salvador. The contract, valued at USD18 million, would require Altairnano to provide a complete turn-key installation at INE's Talnique power station, including all phases of site preparation, system installation, testing and commissioning. Full Article
Altair Nanotechnologies, Inc. Secures Contract From Hawai'i Natural Energy Institute
Altair Nanotechnologies, Inc. announced that it has signed a contract with the Hawai'i Natural Energy Institute (HNEI) of the University of Hawai'i at Manoa to supply a one-megawatt ALTI-ESS energy storage system for a test of solar energy integration. Under the contract, Altairnano will provide the ALTI-ESS battery-based power management system to be tested on Hawaiian Electric's electric system to smooth the voltage and load profile with the aid of dynamic voltage controls and fast charge/discharge abilities. Hawaiian Electric Company plans to install the energy storage system at one of its electrical substations in central Oahu in early 2012. Full Article
Altair Nanotechnologies, Inc. Closes Canon Investment Transaction
Altair Nanotechnologies, Inc. announced it had closed on a Share Subscription Agreement with Canon Investment Holdings Limited (Canon), through its affiliate, Energy Storage Technology (China) Group Limited (EST). Under the terms of the agreement, Altairnano issued 37,036,807 common shares to EST at $1.5528 per share, providing $57.5 million in proceeds to Altairnano. Following the closing of this transaction, there are 69,452,487 Altairnano common shares outstanding. Earlier Altairnano announced that it had entered into the Share Subscription Agreement, as amended, under which Canon had agreed to purchase newly issued common shares of Altairnano, which resulted in EST owning 53.3% of Altairnano's common shares, 49.8% on a fully diluted basis, immediately following the closing. Full Article
Altair Nanotechnologies, Inc. Announces Additional Extension Of Share Subscription Agreement With Canon Investment Holdings
Altair Nanotechnologies, Inc. announced it has agreed to a fourth amendment to the Share Subscription Agreement (the SSA) initially entered into with Canon Investment Holdings Limited (Canon) on September 20, 2010 and subsequently amended on February 16, May 17, and June 3, 2011. This Fourth Amendment to the SSA extends the End Date to, and sets the Closing Date as, July 8, 2011, but keeps in place the ability of Altairnano to pursue other alternatives and to terminate the SSA at any time with no penalty. The SSA calls for Canon to acquire newly issued shares of the Company's common stock valued at $57.6 million resulting in a 51% ownership on a fully diluted basis immediately upon closing. Full Article
Altair Nanotechnologies, Inc. To Lease ALTI-ESS Advantage 1.8 MW/ 300 kWh Energy Storage System
Altair Nanotechnologies, Inc. announced that it has been awarded a three year lease for its new ALTI-ESS Advantage 1.8 MW/ 300 kWh energy storage system. The system will be leased by Energy Storage Holdings, LLC, a unit of U.S.-based energy company. The project, to be initially located in New Jersey, will evaluate energy storage technology for large-scale frequency regulation projects, and is expected to be installed in late 2011. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
