RENO, Nev., March 18, 2003 (PRIMEZONE) -- Altair Nanotechnologies Inc. (Nasdaq:ALTI) and Western Michigan University (WMU) have been notified of grant funding for their joint development of nanosensors for detecting chemical and biological weapons and an agent for the breakdown and concentration of radioactive nuclides. The approximately $1 million grant, for which WMU applied, was approved through President Bush's signing of the fiscal 2003 Omnibus Appropriations Bill and should be available by the end of April.
Altair Nanotechnologies and WMU will utilize the funds equally. According to WMU's Dr. Subra Muralidharan, Associate Professor of Chemistry and Director of WMU's Nanotechnology Research and Computation Center, WMU and Altair plan to obtain additional grants worth $1 million or more per year.
"The monies will fund two related programs: nanosensor development for the detection of chemical, nuclear and biological weapons should have significant use for national defense applications and homeland security programs, while the remediation agent uniquely addresses the on-site reduction of radioactive waste," said Altair President Dr. Rudi E. Moerck. "Our partnering agreement with WMU, a renowned leader in nanobioenvironmental chemistry research and the founding entity of the Nanotechnology Research and Computation Center, presents an ideal venue to showcase our proprietary nanomaterial technologies. In addition to partnering with WMU, we plan to work with the University of Nevada, Reno for testing and analysis assistance pertaining to the development program."
"This research will make Nevada, and America, a better place to live," said Nevada Senator Harry Reid. "Nanotechnology will help protect and preserve our environment, and will give us cutting-edge tools to fight terrorism and improve Homeland Security. I'm proud that a Nevada company is leading the world in developing this vital technology, and I look forward to working with Altair in the future as well."
"We evaluated potential research program partners stringently as our success depends on their capabilities," noted Dr. Muralidharan. "Altair's proprietary titanium dioxide nanoparticles exhibited the ability to maintain their integrity in extreme environments. We believe these nanoparticles, when melded with our technology, will allow the creation of nanosensors which, when dispersed on military vehicles or military and security uniforms could quickly sense the presence of warfare agents and instantaneously alert a control center.
"These same titanium dioxide nanoparticles can be formed in large-surface delivery systems and conjugated with our proprietary molecules," continued Dr. Muralidharan. "These molecules will be used for the concentration of radioactive nuclides in nuclear fuel and high-level radioactive waste on site.
"I believe it is important to note," added Dr. Muralidharan, "that Altair is one of a few companies with the technology and capacity to economically manufacture large quantities of titanium dioxide nanoparticles benefiting our development of nanosensors for detecting chemical and biological weapons and myriad other sophisticated civilian applications."
WESTERN MICHIGAN UNIVERSITY
WMU is a Carnegie-designated Doctoral/Research-Extensive university and one of only 102 public research universities to be included in this top classification. WMU is a national leader in nanobioenvironmental chemistry research and has established the Nanotechnology Research and Computation Center to further this research.
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 nanomaterial technology and 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 pharmaceuticals, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional information on Altair and its nanoparticle materials, visit www.altairnano.com.
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 Altair and WMU's ability to receive continued funding for the projects and the commercial success of these projects. In addition, other risks are 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.