Altair Nanotechnologies announced this week that the new lithium titanate battery it is developing for the U.S. Navy has completed its 500th full depth cycle and, perhaps somewhat surprisingly, lost just one percent of its total capacity. The Navy (thanks to U.S. taxpayers) is paying Altair $2.5 million for these batteries. While not destined for any vehicles, the Navy's goal with the battery program is to reduce dependency on expensive jet fuel used in back-up turbines and, through that, to red
Several factors hurt Altair Nanotechnologies' fiscal results in FY07: warranty replacement costs and higher research and development expenses have made the company report a wider loss despite higher revenues. $6.78m worth of warranty expenses and inventory impairment were related to the first-generation battery packs that were sold to Phoenix Motor Cars. As for R&D, costs rose to $15.4m compared to $10.1m in 2006.
Following Altairnano's not-so-good news the other day (the Motley Fool said its stock "missed the mark"), the company must be pleased to announce some good news. To wit, $7 million worth of federal funds as part of the recently-passed Defense Appropriations Bill. The money will be used by Altair not for vehicles but for an advanced lithium battery and separate sensor programs. Five million is headed towards a U.S. Navy project that is intended to reduce the amount of diesel fuel the military bra
The popular Motley Fool investment site today published a list of "3 Stocks That Missed the Mark." One of those is the common AutoblogGreen presence Altair Nanotechnologies. Now, AutoblogGreen doesn't get into investment tips or anything like that, but the Fool is not the only one to dampen the good news that Altair puts out. Part of the problem, writes Anders Bylund of the Fool, is that, "One key customer reportedly delayed a $3.2 million order for Altair battery packs while waiting for the fed
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