ALTAIR NANOTECHNOLOGIES INC. (NasdaqSC: ALTI)

Dear Readers,

Once again, we are privileged to bring to you compelling information about Altair Nanotechnologies Inc. (NasdaqSC: ALTI), the dynamic NANOTECHNOLOGY company that we’ve been following for years.  ALTI remains quite possibly one of the most popular companies we’ve featured in our long history at StockUpTicks.com after a meteoric rise that brought profits to investors in the know.

As most of our readers know (or should know), nanotechnology is the science of the very small and informed minds in the government and private sectors believe that this new science can change lives in ways that parallel the advent of the Internet. We’ve published exhaustively on the subject because we subscribe to that opinion as well, offering our readers FREE RESEARCH (click here) on Nanotech info as well while seeking companies endeavoring in this intriguing arena.

Today is no different as we bring to you a shareholder update from Altair that may offer current shareholders some insight as to the company’s progress or give the uninitiated a little more data on this story.

Read on.

For our first profile on ALTI click here
For a full introductory report on nanotechnology by analyst, Randy Lewis click here
For Current News and Stock Price info on ALTI: click here
 
 

***  Today's Breaking News On Altair ***

Press Release
Source: Altair Nanotechnologies, Inc.
Thursday June 24, 8:00 am ET 
 
 

RENO, NV--(MARKET WIRE)--Jun 24, 2004 -- Altair Nanotechnologies Inc.(NasdaqSC:ALTI - News) is providing a Company update from Altair President Dr. Rudi E. Moerck, in its commitment to keep shareholders and members of the financial community current on the company's activities.

 Corporate Update

Altair has completed its reorganization and the creation of the Life Sciences and the Performance Materials Divisions."This reorganization, and the creation of two divisions, has allowed Altair to focus on leveraging its proprietary technology to bring pioneering product technology to market," commented Dr. Moerck."Further, both Divisions have made significant progress in taking product concepts and developments to commercialization."

 Life Sciences Division Update

This division utilizes Altair's patented processes in developing rare earth compounds and metal oxide technology for the development of pharmaceutical, drug delivery and biologically important ion exchange processes. Altair's novel rare earth ion exchange processes remove specific target compounds from fluids and other process streams to almost non-detectable levels. Altair's hollow, porous, high surface area, rigid ceramic microstructures (TiNano Spheres(TM)) are currently made from titanium and zirconium and show promise as drug delivery and dental compounds.

RenaZorb(TM) -- Nanotechnology-based drug for ESRD

On May 26, 2004, Shire Pharmaceutical's CEO announced he expects Fosrenol®, the company's lanthanum carbonate tetra hydrate-based drug candidate for phosphate control in kidney dialysis patients with End Stage Renal Disease "ESRD" to receive approval from the FDA in June 2004. Approval of Fosrenol has already been granted in Sweden as a European Union Reference country. Shire has also announced that it had licensed Fosrenol to Bayer AG, giving them the exclusive rights to develop, market and sell Fosrenol in Japan. The total potential value of the Fosrenol deal has been reported to be in excess of $70 million, which includes up-front license fees.

Altair's RenaZorb(TM) (lanthanum dioxycarbonate) represents a second-in-class lanthanum-based drug for phosphate control in patients with end-stage renal disease (ESRD). Interest in RenaZorb among potential licensees has increased significantly over the past several months. Altair has instituted additional non-clinical testing in animal models to directly compare RenaZorb™ to lanthanum carbonate tetra hydrate,(the active ingredient in Fosrenol) and sevelamer (the active ingredient in Renagel(TM)). The results will not be available until late July, but the company is optimistic about preliminary data and the outcome of these tests.

Drug Delivery -- TiNano Spheres(TM) and No-Defeat(TM) Drug Delivery Systems

TiNano Spheres(TM) are hollow, porous, high surface area, rigid ceramic microstructures that are derived from Altair's patented technology. The inside, outside or both can be coated with active pharmaceuticals to provide controlled release characteristics. The differentiating characteristic of Altair's TiNano Spheres™ compared with commonly available polymer-based drug delivery systems is that Altair's system may produce a sustained drug delivery system for narcotics and other Class IV drugs that is both non-abuseable and non-defeatable.

TiNano Spheres™ are in the early stage development for drug applications. Altair plans to out-license the technology and conduct co-development work on the No-Defeat(TM) system for licensees and potential licensees. Discussions are ongoing with pharmaceutical companies that are interested in incorporating their active pharmaceutical ingredients into the TiNano Spheres™ and No-Defeat™ systems.

Dental Nanomaterials

Altair continues to work with a research consortium sponsored by the National Institutes of Health to strengthen polymer-based dental fillings utilizing Altair's nano-zirconia.While the size of the materials market for dental fillings is small, from a tonnage perspective, the dollar value is considerable. The development process is moving forward and management now expects to have a suitable product available in the fourth quarter of 2004.

Performance Materials Division Update

The Performance Materials Division is taking pioneering nanotechnology to market.This business unit uses novel chemical processes to manufacture nano-to-micron-sized ceramic materials with specific performance enhancing characteristics.

Titanium Dioxide Pigment -- Altair's Hydrochloride Pigment Process (AHPP)

Discussions continue with several companies that have interest in producing white titanium dioxide pigment. Titanium dioxide pigment is a $9 Billion global market.

In January 2004, Altair entered into a license agreement with Western Oil Sands, Inc.for the production of titanium dioxide pigment at the Athabasca Oil Sands Project in Canada. Altair is now well into phase one of the agreement, with bulk samples of the oil sands' tailings in the Reno plant for testing and processing into white titanium dioxide pigment.

Altair has also entered into a licensing agreement with Avireco USA to evaluate the Altair Process utilizing feedstock from Vietnam to produce titanium dioxide pigment. The government of Vietnam has approved $25 million to develop a domestic titanium dioxide pigment infrastructure. However, work under the contract has not yet been authorized.

Altair continues to work with Flowco International, Altair's exclusive representative in the People's Republic of China (PRC). Altair is in ongoing negotiations with a Chinese company and several Indian companies that have interest in producing white pigment for distribution in those respective countries.

Titanium Metal

Under Altair's January 2004 agreement with Titanium Metals Corporation (NYSE:TIE - News), the company has begun providing development services and selling developmental quantities of custom nano titanium dioxide and titanium alloy oxide electrode feedstock to Titanium Metals for their development program pertaining to the manufacture of titanium metal based on the patented FFC Cambridge process.

DARPA (Department of Defense), the agency funding the development program through a $12.4 million grant, has awarded Altair Nanotechnologies subcontractor status. The development program provides Altair the opportunity to supply enough TiO2 to produce 50 pounds of titanium metal per day to meet the DARPA titanium project goals as outlined by the program. Altair believes the success of the testing program could result in a licensing agreement for the production of titanium dioxide and titanium alloy oxide electrode feedstock.

NanoCheck(TM)

Altair's unique nano-structured compound, NanoCheck(TM), has been proven to safely and effectively prevent algae growth in swimming pools in both independent and in-house laboratory testing. There are approximately eight million pools and four million existing spas and hot tubs worldwide with an additional 360,000 pools and approximately 260,000 spas and hot tubs being installed annually.

The first phase of microbiological performance testing confirmed NanoCheck™ compound's ability to retard and prevent algae growth through absorption of phosphates from water. Field-testing focused on evaluating Nanocheck™' compound effectiveness in providing an algae-free environment for swimming pools is currently under way. If the tests are successful, Altair or a licensee could commercially launch NanoCheck(TM) in the first quarter of 2005.

United States Government Research Funds

Work between Altair, Western Michigan University (WMU) and University of Nevada is underway, under the terms of a joint development agreement funded by the Department of Energy's Office of Science, Biological and Environmental Research. Altair and WMU are currently working on the "lab-on-a-chip" elements, which will comprise the technology being developed for detecting chemical and biological agents, a homeland defense program.

In December 2003, Altair was notified by WMU of additional grant funding for their joint development of nanosensors for detecting chemical, biological and radiological agents. The $2 million grant was included in the Omnibus Appropriations Bill and will commence August 2004. WMU and Altair will continue to jointly seek Federal support for nanotechnology research and development and will utilize the new grant funding
equally.

Altair recently received at $100,000 grant from the National Science Foundation to fund the joint development work with Hosokawa Micron's Nano Particle Technology Center and Rutgers University's Energy Storage Research Group. The Team is working on the design and development of an advanced hybrid battery as a high capacity, next generation lithium ion power source. Altair expects to apply for additional funding for the development of Phase ll of the development program.

Lithium Ion Battery Electrode Development

The Rutgers prototype battery, using Altair's nanomaterials, met the 'car of the future'power assist battery requirement as reported in Telcordia's (now Rutgers Energy Storage Research Group) research paper published in The Journal of Power Sources.The prototype battery, a nonaqueous asymmetric hybrid incorporating the advantages of both Li-ion batteries and super capacitors, stored energy of 11wh/kg with delivery of 800 W/kg at 95 percent efficiency. The cycle life ranged between 10,000 and 100,000 cycles. The Rutgers' battery is the only prototype reported, to date, to meet these DOE standards. Altair is in discussions with Rutgers regarding commercialization and is providing the group with additional nanomaterials samples for further development work and prototype production.

Altair has signed a memorandum of joint development work with Hosokawa Micron International to combine the technologies of both companies to develop advanced electrode materials for electrochemical devices such as batteries, capacitors and supercapacitors from a variety of nanomaterials.

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 robust proprietary technology platform for making a wide variety of nanocrystalline materials of unique quality both economically and in large quantities. The company is currently developing special nanomaterials with potential applications in pharmaceuticals, batteries, thermal spray coatings, catalysts, cosmetics, paints and environmental remediation. For additional information on Altair and its nanoparticle materials, visit www.altairnano.com.

Altair Nanotechnologies, Inc.®, Altair Nanomaterials™, TiNano®, RenaZorb™,NanoCheck™, TiNano Spheres™, No Defeat™ and the Hydrochloride Pigment Process™ are trademarks or registered trademarks of Altair Nanotechnologies, Inc.

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, the risks that Altair's numerous development stage products will not be developed to the point of commercialization or that, even if commercialized, no market will exist for such products or Altair will fail to effectively market to customers in a market, that Altair will be unable to enter into license agreements regarding its pigment process (AHPP), RenaZorb or other
developing products, that even if Altair enters into such license agreements, short term revenues from such agreements will not be sufficient to fund Altair's operations in the short run, and that animal testing or future testing on RenaZorb or other products of the company will not be successful and that development will need to be terminated. In general, Altair is, and expects to be in the immediate future, dependent upon funds generated from sales of securities, grants, testing agreements, and licensing agreements to fund its testing, development and ongoing operations. If the company is unable to continue to raise significant funding through such methods, it may be unable to continue as a going concern. 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.
 
 

*** A Snapshot Of The Financials ***

  Statistics: 
· Nasdaq symbol: ALTI 
· Fiscal year end: Dec. 31 
· Market Cap: $51.4 M 
· Recent price: $ 2.47 
· Common shares outstanding: 20.8M 
· Float: 14.8M 

Sectors: Chemical & Specialty Chemical 
Potential portfolio matches: Alternative, Growth, Momentum, Theme 
 

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