Altair Nanotechnologies, Inc. (NasdaqSC: ALTI)

Dear Readers,

We first profiled Altair Nanotechnologies, Inc. (NasdaqSC: ALTI) over a year ago. Since then we've brought you a couple of updates including some research on the nanotechnology industry (see links below), a sector that holds such tremendous promise that some experts say it will change our lives more than any technology in the past century!  Altair has been at the center of some very exciting developments as you will see in the news release excerpts below. 

Analyst Randy Lewis of EquityNet Research has been kind enough to provide a brief update on nanotechnology specifically for our readers today.  Read about this intriguing technology area and the news surrounding Altair below.

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

By Randy D. Lewis, CFA                                                                                         
President, EquityNet Research, LLC

In the volatile world of today’s U.S. stock market, one thing remains clear - nanotechnology remains hot, both in terms of notoriety and investment returns.  EquityNet’s Nanotechnology Composite was up 74% in the first five months of 2003, compared to 21% for the Nasdaq Composite Index.  In fact, only one company in our composite had a negative return for the period, NanoPierce Technologies, which was down 51%. 

Once only scientific jargon, nanotech has become mainstream.  Last November, nanotech took a major step toward becoming a household word with a write-up in Parade magazine, the nearly universal supplement to Sunday papers across the U.S.  Almost everyday, the science makes news.  One reason is that nanotech has the potential to encompass almost every aspect of our lives – and not just in semiconductors and space exploration. Nanotech firms have already introduced wrinkle- and stain-resistant cotton fabrics, food packaging that keeps meat fresh longer, windows that are easier to clean, and tennis balls that don’t deflate.

It is also gaining increased attention from the government. Last month, the U.S. House of Representatives passed a bill authorizing $2.36 billion in spending during the next three years on nanotech research, up from the previous $1 billion allocated under a Clinton Administration program. "It is one of the most promising and exciting fields in science today," said House Science Committee Chairman, Sherwood Boehlert.  Also, the U.S. Army and MIT opened the Institute for Soldier Nanotechnology, an initiative to develop equipment such as bulletproof uniforms. 

One can only guess what the future holds for nanotech, but after the dot-com collapse it is quite refreshing to see a driving force in today’s market that holds so much promise.

**Breaking News**

RENO, Nev., June 3, 2003 (PRIMEZONE) -- Altair Nanotechnologies, Inc.
(NasdaqSC:ALTI - News) announced today that it has negotiated an agreement allowing the disclosure of new animal testing data to interested third parties. Under the previous non-disclosure agreement with the participating pharmaceutical company, the animal testing data could not be disclosed. Altair developed three versions of RenaZorb designated RenaZorb "A", "B", and "H". The study, completed in early March 2003, was conducted in dogs and 5/6 nephrectomized rats utilizing three versions of the drug candidate.

"The test results demonstrate indisputably that RenaZorb is effective in lowering urinary phosphate in kidney impaired (5/6 nephrectomized) rats and in healthy dogs," said Altair President Dr. Rudi E. Moerck. "This new collection of test results provides potential licensees within the pharmaceutical industry a more extensive set of in vivo data for evaluating RenaZorb's phosphate binding capabilities. "Additionally," continued Dr. Moerck, "the new test results have provided Altair with important data that will permit further improvement of the dosage form to enhance both the efficacy and potency of the drug candidate."

Altair continues active discussions pertaining to the licensing of RenaZorb with numerous pharmaceutical companies. These companies are in various stages of conducting due diligence of RenaZorb and management expects to receive their response in the near future. Altair estimates that the current market for phosphate binding drugs used for ESRD ranges from $400 to $600 million and could potentially reach $1 billion with a cost effective drug presenting improved dosing and patient compliance.
To read the entire release: Click Here

RENO, Nev., May 20, 2003 (PRIMEZONE) -- Altair Nanotechnologies, Inc.
(NasdaqSC:ALTI - News) said today that the company is aggressively seeking revenues from government grant programs to support several of its nanotechnology development. To assist the company in obtaining this funding, Altair has engaged DykemaGossett, PLLC, a Michigan and Washington, D.C.-based law firm. The firm was instrumental in obtaining a recent grant of approximately $1 million to develop titanium dioxide nanoparticle sensors for the detection of chemical and biological weapons. Additional funding has been requested for the sensor program which involves Western Michigan University and the University of Nevada, Reno.

Altair also announced today that it is in negotiations with UK-based Hydrogen Solar to develop a program in Nevada which would demonstrate Hydrogen Solar's technology for generating hydrogen using direct sunlight as the energy source. Hydrogen Solar has an exclusive worldwide license for the Tandem Cell(tm) technology invented and patented by a European university. All parties expect that the use of Altair's nanomaterials will significantly improve the conversion efficiency and cost structure of hydrogen production using Hydrogen Solar's technology. According to Altair's President Dr. Rudi E. Moerck, the University of Nevada, Reno, which participated in the Desert Research Institute's hydrogen production and demonstration project, is involved in the joint funding effort for the company's hydrogen production technology program.  To read the entire release: Click Here

RENO, Nev., May 9, 2003 (PRIMEZONE) -- Altair Nanotechnologies Inc. (NasdaqSC:ALTI - News) reported today that the U. S. House of Representatives passed the Science Committee legislation which authorizes a national nanotechnology research and development program. H.R. 766, the Nanotechnology Research and Development Act of 2002, authorizes $2.36 billion over three years for several Federal agencies.

According to Science Committee Chairman, Sherwood Boehlert, who supported the bill, the U.S. government needs to step up funding for basic research that could lead to commercial development. He went on to note that it is one of the most promising and exciting fields in science today. The Senate is expected to take up a similar measure soon and the measure has White House support.

"The passing of H.R. 766 could not be timelier," said Altair Nanotechnologies President Rudi E. Moerck. "Over the last several years Altair has developed patented processes that provides for the economic manufacturing of a wide range of a high purity nanomaterials ranging from lithium titinate spinel, titanium dioxide, stabilized zirconium dioxide to lanthanum strontium manganates. We are positioned to take advantage of the significant new development opportunities." 
To read the entire release: Click Here
 

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