Altair Nanotechnologies and Electro Energy partner to make next-generation batteries
RENO, Nev., and DANBURY, Conn., 9 March 2006. Altair Nanotechnologies Inc. and Electro Energy Inc. have entered into a four-year joint development agreement for the design, manufacture, and marketing of high-power lithium ion batteries and battery systems. The companies initially are targeting portable devices.
Under the terms of the agreement, Altairnano and Electro Energy will jointly develop a new generation of rechargeable batteries based on Altairnano's nano-structured electrode materials and Electro Energy's patented bipolar cell design.
The combined technologies are expected to create a range of new lithium ion batteries to enable, for example, hand-held power tool manufacturers to deliver end user products with improved functionality and cost performance. If the companies are successful in developing these new lithium ion battery products, power tools using these batteries are expected to weigh less, recharge in minutes versus hours, and have a significantly improved cycle life.
"Electro Energy has strong relationships with leading manufacturers of cordless power tools as well as organizations within the military and aerospace industry," says Altairnano president and CEO Alan J. Gotcher, Ph.D. "The battery performance requirements within these markets may provide excellent commercial opportunities for Altairnano's battery materials and products."
"We currently manufacture and market batteries and battery packs for complex applications with high power battery requirements," says Electro Energy's president Michael E. Reed. "Over the past two years, we have been developing lithium ion rechargeable batteries and we believe that Altairnano's battery materials technology, integrated with our bipolar battery design, can provide a new generation of high power rechargeable batteries."
