WASHINGTON, DC -- 10/29/09 --
Proterra LLC, a Colorado-based manufacturer
of zero-emission heavy-duty vehicle systems and transit buses, and Altair
Nanotechnologies, Inc. (Altairnano) (NASDAQ: ALTI), a leading provider of
energy storage systems for clean, efficient power and energy management,
today introduced to Washington DC policymakers the only made-in-America
electric rapid-charge hybrid bus that meets California's zero emission
rules.
Proterra's initial product, a thirty-five foot all-electric transit bus,
has been designed from the ground up to enable transit agencies to replace
conventional diesel buses on a one-for-one basis with the world's first
all-electric buses operating 24/7. This is accomplished by combining
Proterra's light-weight composite body, highly efficient ProDrive™,
advanced TerraVolt™ energy storage system (powered by Altairnano batteries)
and on-route rooftop FastCharging™ station to charge the batteries in 5-10
minutes. The vehicle achieves between 18 and 29 miles per gallon diesel
fuel equivalent fully loaded with 68 passengers -- 500% better than a
comparable diesel bus.
Production of Proterra's transit bus using lithium-titanate batteries
supplied by Altairnano could create over 6,000 green jobs in 21 states. A
fleet of 500 buses operating over 12 years could cut emissions of CO2 by
840,000 tons and reduce oil consumption by 82 million gallons.
"In addition to our advanced control systems, composite materials and
overall design, Altairnano is providing a key building block with their
unique, safe and long-lasting lithium-titanate batteries that make it
possible for us to offer an ultra fast charging system that eliminates
emissions for the world's heavy duty vehicles," said Jeffery Granato,
Proterra's President and CEO. "To meet their stringent zero emission
standards, California will be one of the first areas of the country to
deploy this fast-charge battery-electric transit bus."
"Altairnano is extremely excited that Proterra selected our battery to
power this remarkable vehicle," said Terry Copeland, President and CEO,
Altairnano. "Proterra has designed a bus that will not only mean more green
jobs for us and their other suppliers," continued Copeland, "but will put
our nation at the forefront of producing state-of-the-art technology to
address our most pressing environmental challenges."
Currently, 23 public transit agencies in 11 states (California, Colorado,
Florida, Illinois, Nevada, New Jersey, New York, North Carolina, South
Carolina, Texas, Washington) and the District of Columbia have submitted
grant requests to obtain funds to purchase Proterra buses and charging
stations. Additionally, Proterra is negotiating to supply the buses to
several international customers.
In Washington for the week, Proterra and Altairnano executives and
representatives of the Center for Transportation and Environment held
meetings and bus tours with the Department of Transportation, the
Department of Energy, leaders in the House of Representatives, and the
Washington Metropolitan Area Transit Authority.
About Altair Nanotechnologies, Inc.
Headquartered in Reno, Nevada with manufacturing in Anderson, Indiana,
Altairnano is a leading provider of energy storage systems for clean,
efficient power and energy management. Going beyond lithium ion,
Altairnano's Lithium-Titanate based battery systems are among the highest
performing and most scalable, with applications that include battery cells
for military artillery, battery packs for hybrid vehicles and energy
storage systems for large-scale stationary power services. For more
information please visit Altairnano at www.altairnano.com.
About Proterra LLC
Proterra is answering the international call for efficient, cost-effective
and environmentally responsible heavy-duty vehicle solutions. Headquartered
in Golden, Colorado, Proterra is a leading designer and manufacturer of
heavy-duty drive systems, energy storage systems, vehicle control systems
and transit buses. Proterra's systems are scalable to all forms of
commercial buses and Class 6-8 trucks. For more information on Proterra and
its technology please visit www.proterra.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 Altairnano's actual plans, results and performance in future
periods to be materially different from any plans, future results or
performance suggested by the forward-looking statements in this release.
These risks and uncertainties include, without limitation, the risks that
products will not perform as expected in future testing or real-world
applications; and that even if full commercialization occurs, product sales
may be limited and costs associated with production may exceed revenues. In
addition, other risks are identified in Altairnano's most recent Annual
Report on Form 10-K and Form 10-Q, as filed with the SEC. Such
forward-looking statements speak only as of the date of this release.
Altairnano 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.
For Additional Information:
Proterra Company Contact:
Jeff Granato
President & CEO
Proterra LLC
303-562-0505
Email Contact
Altairnano Media Relations:
Jeff Brunings
Director, Strategic Marketing
Altair Nanotechnologies, Inc.
775-856-2500
Email Contact
Altairnano Institutional Investors:
Brion D. Tanous
CleanTech IR, Inc.
310-541-6824
Email Contact
Altairnano Individual Investors:
Tom Herbert
CleanTech IR, Inc.
310-541-6824
Email Contact
