New York, NY (1888PressRelease)
July 09, 2008 - Stockhouse reports that Altair Nanotechnologies Inc. (NASDAQ: ALTI), a leading manufacturer of high-performance lithium-titanate battery and energy storage products, completed a demonstration and validation program for a two-megawatt 500 kilowatt-hour battery system purchased by AES Corporation (NYSE: AES).
"We are pleased with the results of the Altairnano units. This two megawatt validation project is one of the final steps in our move towards commercial deployment of grid-scale energy storage," said Chris Shelton, Director of Energy Storage Development at AES.
Grid-scale energy storage enables shifts in receiving and directing energy and allows the use of new generating sources such as wind and solar. Altair is now at the forefront of a changing utility industry which is being transformed by rising demand coupled with high energy costs.
As of the time of this report ALTI was up over 25 percent with over 1.8 million shares trading.
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