ALTAIR INTERNATIONAL INC. (NASDAQ NM: ALTI)

Editors Note: At Stockupticks we always seek to bring you the hottest companies doing business in the latest technologies. Our feature today may well be one of those companies. 

We're not talking about the kind of technology that you hear about everyday ... microchips, Internet, cellular. Altair's business plan revolves around the exciting world of "nanotechnology" and the broad range of its applications. 

According to MIT Technology Review, Nanotechnology (the science of the extremely small) is the most significant emerging materials technology for this century.  This new technology, through its capability of altering component materials, significantly impacts the design and performance of most all industrial products including computers, telecommunications equipment, the production and storage of energy, biotechnology and pharmaceuticals. 
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Moreover, Altair had breaking news today which follows this brief introduction. 

Altair is in the final stage of fulfilling its strategy to progress from a research and development company to a premier supplier of nanomaterials for commercial, market-driven applications. 

***  Today's Breaking News On Altair ***

Wednesday May 29, 5:52 pm Eastern Time 

Press Release 

SOURCE: Altair Nanotechnologies Inc. 

Altair and University of Nevada Developing Materials for Removal of 
Arsenic From Drinking Water

RENO, Nev., May 29 /PRNewswire-FirstCall/ -- Altair International Inc., d/b/a/ Altair Nanotechnologies (Nasdaq: ALTI - News) today announced that it has entered into an agreement with the University of Nevada, Reno to prepare advanced drinking water purification materials. These materials will be made using Altair's patented nanoparticle technology in combination with university patents for removal of arsenic and selenium from drinking water. The demand for methods for removal of arsenic and other heavy metals has been significantly increased because of recent Bush administration and Environmental Protection Agency initiatives that greatly reduced the allowable arsenic content of drinking water. 

Altair has filed patents for its technology to make durable porous crystalline catalyst support structures from titanium dioxide nanoparticles (TiO2), and has also filed for patents to incorporate additives on the surface of such materials with chemical modifiers. The university has obtained patents on the use of lanthanum compounds for removing arsenic from drinking water. Combining the two technologies is expected to provide a high surface area of reactive material on a chemically and mechanically stable substrate that also allows high rates of water flow and water purification. 

"Arsenic content in drinking water is a significant problem worldwide and in most of the western United States, particularly in many Nevada communities," said Dr. Richard A. Bjur, director of the University of Nevada's Office of Technology Liaison. "One of the objectives of the university is to bring technologies to commercialization, especially if the technology will help address a Nevada problem. We are pleased to work with Altair in this capacity." 

Dr. Rudi E. Moerck, president of Altair Nanotechnologies, commented, "The initial work done by our environmental applications group is providing promising results. Success can translate to commercialization to meet the new, more stringent, Federal requirements. The Altair laboratories and production facilities are located in Reno, Nevada, and we are pleased to note that Altair has had a long-term successful relationship with the University of Nevada." 

ALTAIR NANOTECHNOLOGIES, INC. 

Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies is positioning itself through product innovation within this emerging industry to become a leading supplier of nanomaterials worldwide. Altair owns a proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities. The company is currently developing special nanomaterials with potential applications in fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. 

Forward-Looking Statements 

This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the possibilities that the Company may be unable to attract additional customers, funded research opportunities, product development opportunities or ventures through its sales and branding campaign, that the Company may never earn sufficient revenues to be profitable and that the Company's nanoparticle products may not be integrated into any major market groups and products, in addition to other risks identified in the Company's most recent Annual Report on Form 10-K, as filed with the SEC. Such forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in Company expectations or results or any change in events. 

SOURCE: Altair Nanotechnologies Inc. 
 

*** The Marketplace And Nanotechnology ***

Batteries – A $42 Billion Marketplace

Through studies conducted by reputable research firms and a well-known battery technology company (studied results were independently confirmed by battery expert Dr. K.M. Abraham), it has been concluded that (1) Altair’s nanosized Lithium Titanate Spinel have exhibited charging and discharging rates 10 to 100 times higher than materials used in batteries commercially available today and that (2) these nanomaterials were able to be fully recharged in under one minute with the ability to undergo charge/discharge cycles with little fade in capacity for thousands of cycles. 

Batteries made from the new nanomaterial will be vastly improved and better able to address the battery needs within the burgeoning world of portable consumer products, particularly laptop computers, as well as replace today’s lead-acid and nickel-cadmium batteries currently used in products such as golf carts, fork lifts, wheel chairs, uninterrupted power supplies, the telecommunications industry and various military applications.  The market for rechargeable and primary batteries is currently projected at $42 billion. 

Additional potential markets for lithium ion batteries made with Altair’s Lithium Titanate Spinel are as power sources for hybrid electric vehicles and the fabrication of high-power hybrid electrochemical cells.  Today, Altair is the only company capable of manufacturing economically priced commercial quantities of nearly 100% nano Lithium Titanate Spinel. 

Fuel Cells:  A potential market of $2.25 Billion by 2005

Fuel cells are energy conversion devices that produce electricity by electrochemical combination of a fuel with an oxidant.  Fuel cells are a simple device consisting of an anode (converts fuel) and a cathode (ionizes oxygen), separated by an electrolyte.  Altair is on the cutting edge of this emerging industry with its recent breakthrough in the development of its solid oxide fuel cell (SOFC) core that solves the major problem associated with fuel cell research – material mismatch.  Major components in the Altair Cell are developed using the company’s nanosized Yttria Stabilized Zirconia (YSZ) as the base. 

The US market for fuel cell applications is projected to be $2.25 billion by 2005.  Altair believes the market for the SOFC fuel cell within the utilities and transportation industries as well as on-site power markets will be approximately $360 million by 2005.  Altair is working under a sponsored research program with MIT for the incorporation of Altair’s nanomaterials oxides of Zirconia, Yttrium, Lanthanum, and Manganese with proprietary new nano catalysts developed by MIT’s Dr. Jackie Ying.  The company believes it will have its first working SOFC fuel cell power unit available by the end of the second quarter in 2002. 

What exactly is nanopartilce technology?

Answer: A nanoparticle is a very tiny particle that by definition is between 1 and 100 nanometers, which is one billionth of a meter. These particles are a few atoms or molecules in size, a grain of sand is equivalent in size to about 10,000 nanoparticles. It is widely believed that nanoparticles will revolutionize materials science since, when used with materials that are available today, nanoparticles make those materials stronger and more wear-resistant. Going forward, new materials will also be developed using nanoparticles that will significantly improve the design and performance of most all industrial products including computers, telecommunications equipment, the production and storage of energy, biotechnology and pharmaceuticals. An example of nano-sized materials enabling new commercial characteristics is the rapidly emerging applications for photocatalytic titanium dioxide "self-cleaning" and "self-sanitizing" surface coatings. The Japanese are particularly active in pursing photocatalytic applications whereby a wall could be coated with titanium nanoparticles, and because the particles are so small, when a photon hits them, it causes an electron to jump several orbits and become very oxidizing or reactive. That material then becomes self-sterilizing or self-sanitizing and will kill any bacteria or virus that hits it. Imagine a self sanitizing hospital room, or self cleaning mirrors and windows. This effect cannot be achieved using standard sized titanium-pigment paint particles. 
 

ABOUT ALTAIR Altair International Inc. owns a proprietary technology for making nanocrystalline materials in bulk quantities. The Company's technology can also be used to make paint pigment. Altair is developing  nanomaterials with potential applications in pharmaceuticals, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints, semiconductors, telecommunications and environmental remediation.

The Altair process for making nanocrystalline materials is fundamentally different from other processes, exhibiting flexibility in the number and types of products with a low cost structure, and scale-up capabilities. Altair’s existing production facilities have been designed to accommodate future expansion. New products are being innovated by the same team of scientists that developed the original process. 

Altair has commenced selling into the existing market for titanium dioxide nanoparticles and is using its core competencies -  proprietary technology and R&D capability – to develop breakthrough materials for alternative energy applications, primarily fuel cells and batteries. 

"During the last sixty days we have provided our nano- sized lithium titanate spinel to seven battery companies including two of the largest battery manufacturers in the world. In addition, Altair has provided a variety of other nanomaterials to companies specializing in substrates for catalyst development, chemical-mechanical planarization (CMP) materials for the electronics industry, thermal spray manufacturers, as well as companies interested in pollution control devices and water treatment. We expect to see increased activities and improved revenues as these large companies conclude their testing and begin to development product(s) with Altair's nanomaterials and nanoproducts." 
Altair Chief Executive Officer, Dr.William P. Long
 
 

*** A Snapshot Of The Financials ***

  Statistics: 
· Nasdaq symbol: ALTI 
· Fiscal year end: Dec. 31 
· Market Cap: $19.8 M 
· Recent price: $0.95 
· Common shares outstanding: 20.8M 
· Float: 14.8M 

Sectors: Chemical & Specialty Chemical 
Potential portfolio matches: Alternative, Growth, Momentum, Theme 

Altair International owns a proprietary technology for making nanocrystalline materials in bulk quantities. For the three months ended 3/31/02, revenues totaled $49 thousand, up from $0. Net loss fell 12% to $1.7 million. Results reflect $49 thousand in sales of titanium dioxide nanoparticles, lithium titanate nanoparticles and other materials, partially offset by higher professional services expenses. 
 

***  CONTACT ***

Corporate Address: Altair Nanotechnologies, Inc.                                                                                                  204 Edison Way                                                                                                  Reno, NV 89502 United States Of America

Safe Harbor Statement: Statements contained in this document, including those pertaining to estimates and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. 

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