Altairnano completes battery pack work for AES

Reno, Nev.-based advanced battery maker Altair Nanotechnologies (Nasdaq: ALTI) said today it completed on schedule the manufacture of battery packs to be used in a 2 megawatt energy storage system ordered by Arlington, Va., power producer AES (NYSE: AES).

Altairnano said the purchase was valued at $1 million.

Earlier this year, the companies announced plans to co-develop electrical grid storage systems incorporating nanotech batteries from Altair Nanotechnologies, also known as Altairnano (see Altairnano and AES partner on grid storage).

"This is a significant manufacturing milestone in Altairnano's battery and energy storage go-to-market strategy," said Alan Gotcher, president and CEO of Altairnano.

Altairnano said it expects the system to be connected to the grid and tested during the first quarter of 2008.

"We believe that stationary power represents a large market opportunity for Altairnano, and are proud to be working with global power leader AES to develop these large-scale energy storage systems," said Gotcher.

In March, AES invested $3 million in Altairnano (see AES makes $3M strategic investment in Altairnano)

Altairnano said the quick response time, extended life and power profile of its batteries and energy storage products are well suited to improving grid performance.

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