Altair Gets Another Order From Phoenix

| About: Altair Nanotechnologies (ALTI)
This article is now exclusive for PRO subscribers.

Phoenix Motor Cars has placed an additional $2.2 million order for 35 kWh NanoSafe battery packs with Altair Nanotechnologies (Nasdaq: ALTI) for use in sport utility trucks (SUTs) and sport utility vehicles (SUVs) manufactured by California-based Phoenix.

The new order brings Phoenix’s total purchase commitment for Altairnano battery packs to $4,075,000. Altairnano has shipped more than $1,475,000 of its 35 KWh battery packs to Phoenix.

Altairnano’s 35 KWh NanoSafe packs provide sufficient power and energy for SUT and SUV vehicles to travel up to 130 miles with a top speed of over 100 miles per hour. The battery pack has a life of 12 years or more. NanoSafe battery packs can be recharged in less than 10 minutes using an industrial 480-volt battery-charging platform. NanoSafe battery packs can also be charged over longer periods of time when using typical 120 or 240 volt power sources. An on-board charger that is compatible with these lower voltage sources is standard equipment for both the Phoenix SUT and SUV vehicles.

According to Phoenix the company is on target to manufacture and sell 300 fleet-ready vehicles by year’s end. A limited number of Phoenix Motorcars all-electric sport utility trucks will be available to consumers in 2007 with an expanded consumer launch scheduled for 2008. Phoenix Motorcars will also introduce an SUV model in late 2007.

Phoenix's SUT is a battery-electric vehicle that eliminates noise and toxic vehicle emissions that contribute to air pollution. The SUT is powered by UQM Technologies Inc.’s (AMEX: UQM) propulsion system, utilizes Boshart Engineering’s homologation process and is equipped with a non-toxic, revolutionary Altairnano NanoSafe™ all-battery pack.