RENO, Nev., April 8, 2003 (PRIMEZONE) -- Altair Nanotechnologies Inc. (Nasdaq:ALTI) announced today that it has successfully completed phase I development and has produced phase pure rutile titanium dioxide (TiO2) entirely from ilmenite concentrates provided by a materials company in the Asia Pacific region. The pigment was produced for that company as part of their development agreement with Altair. The capability is important to companies within the pigment industry as Altair's process takes readily available, inexpensive feedstock and, with its patented process, economically produces phase pure titanium dioxide pigment without the need of expensive intermediate upgrade technologies that include slagging or synthetic rutile production. This effectively reduces the operating cost for the AHPP by roughly US$150-200 per metric ton.
"As we continue to stress," commented Altair President Dr. Rudi E. Moerck, "our manufacturing process can utilize a wide variety of feedstocks with the end result being an inexpensively produced, pure quality TiO2 pigment. In using the process, pigment manufacturers can reduce their production costs and eliminate environmentally unfriendly waste by-products -- providing a highly competitive advantage in the marketplace. In addition, the Altair Hydrochloride Pigment Process is capable of producing both rutile and anatase TiO2 pigment base materials, nanomaterials, and other specialty titanates."
The company's ability to produce pigment from ilmenite ore and other inexpensive feedstocks has generated strong interests from many sizeable pigment producing and natural resources companies domestically as well as in China, South Africa, Australia, India, Canada and Vietnam. "We have been making presentations at various conferences pertaining to the pigment industry and have recently submitted an abstract for Hydro 2003 to be held in Vancouver in August," said Dr. Moerck. "With our patents now fully protected we are becoming more active in presenting our technology in the global hydrometallurgical research and commercialization arena."
"The phase one report for this work will be issued to the Pacific Rim company later this month. Phase II of the development proposal has been submitted to our customer and we expect a response to the proposal pending their evaluation of the phase one data."
ALTAIR NANOTECHNOLOGIES, INC.
Nanotechnology is rapidly emerging as a unique industry sector. Altair Nanotechnologies is positioning itself through product innovation 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 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.
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