COLLABORATION TO ADVANCE ENERGY STORAGE

Energy-Storage Companies Partner To Tackle Renewable Energy Integration

21 September 2012 (North American Windpower)

“Energy-storage providers Altair Nanotechnologies Inc. and EnerDel Inc… have signed a memorandum of understanding (MOU) to co-market and cross-sell each other's product portfolios.

“Each company will now be able to offer a much broader line of lithium-ion-based energy-storage systems from individual cells and modules in order to complete systems that offer multiple chemistries and technologies…”

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[Alexander Lee, CEO, Altair Nanotechnologies:] "Electric-grid customers are interested in combining high power and high energy battery systems to solve the challenges of renewable integration and ancillary services…This MOU allows each company to expand its market presence while creating real value for our customers."

“The agreement is effective immediately, and the companies will start representing each other’s products as part of their regular sales efforts in the coming weeks.”

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