RENO, Nev., April 17, 2003 (PRIMEZONE) -- Altair Nanotechnologies, Inc. (Nasdaq:ALTI) announced today that Nevada Senator Harry Reid met with Altair management and representatives from Western Michigan University (WMU) and the University of Nevada, Reno (UNR) at the company's corporate headquarters. The three entities are collaborating on the joint development of nanosensors for detecting chemical and biological agents. These sensors are being designed to provide a much-needed early warning mechanism for our homeland security agency as the country continues to fight the war against terrorism. The fiscal 2003 Omnibus Appropriations Bill is funding the joint development and Senator Reid was influential in bringing the approximately $1 million grant to Nevada.
Senator Reid, the senior Democrat member on the Senate Subcommittee on Energy and Water, toured Altair's state-of-the-art laboratory and nanomaterials manufacturing facility and met with members of the combined research team including Dr. John Fredrick, Provost, UNR and Dr. Jack Luderer, Vice President of Research for WMU. Additionally, Senator Reid met with Altair's management including the Altair scientists involved with the project.
During his interview today Senator Reid expressed his great concern about the forces of evil that use terrorism as their tool of influence throughout the world. Senator Reid spoke about his commitment and belief that the use of science and ingenuity can protect all people from these acts of terrorism and provide a safe living environment worldwide. He then went on to express his continued support of our technology development in the fight for homeland security and voiced his pleasure in having this joint scientific effort involve Altair and UNR, both located in northern Nevada.
"Nanotechnology is one of the most important developments in our lifetime," said Altair President Dr. Rudi E. Moerck. "The applications for our advanced nanomaterials and nano-based products address some of the most important issues affecting our day-to-day lives. These issues include healthcare, the environment, energy, homeland security and national defense. Working with WMU and UNR we believe significant advances can made in the development of products to protect and preserve our environment and to provide our government agencies with the most technologically-advanced tools available to fight terrorism and improve homeland security. I would like to sincerely thank Senator Reid for his continued support of our joint development program in particular the grant underwriting our collaboration with WMU and UNR."
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.
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