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Posted: Sep 11, 2012
Altairnano Signs Memorandum of Understanding With Shenhua Science and Technology and the National Institute of Clean and Low Carbon Energy
(Nanowerk News) Altairnano today announced it had signed an agreement with
Shenhua Science & Technology (Shenhua S&T) and its research affiliate,
the National Institute of Clean and Low-carbon Energy (NICE), to jointly
develop, deploy and promote industrial applications of lithium
titanate-based energy storage systems in China. Shenhua S&T and NICE are
both subsidiaries of the Shenhua Group, which is the world's largest
producer of coal, and the largest integrated energy company in China.
The companies signed a memorandum of understanding (MOU), which calls for
the launch of a pilot project to deploy and test an Altairnano ALTI-ESS
Advantage System at one of Shenhua's wind farms in China. Under the terms
of the MOU, the parties have formed a joint working group, which will
define the scope of the pilot project. Key goals of the pilot project
include the development of ancillary services for the grid, the storage
of electricity in off-peak hours, especially from renewable sources of
energy, and grid stabilization.
"Shenhua is interested in ways Altairnano's technology can be used to
develop operational experience to facilitate the rapid expansion of
energy storage in these applications. Ultimately, the project is designed
to test, validate and optimize performance of energy storage systems in
China by exploring ancillary services such as frequency regulation,
off-peak energy storage and microgrid stabilization," explained Alexander
Lee, CEO of Altairnano.
"Altairnano is pleased to work with a company like Shenhua, who concluded
that our technology and knowledge of electric grid energy storage systems
is well positioned to meet their aggressive growth targets," said Lee.
"This agreement sets the foundation for rapid commercialization within
The newly launched ALTI-ESS Advantage, which uses Altairnano's patented
nano-lithium-titanate technology, is ideal for high-power applications
because of its ability to rapidly charge, store and discharge energy back
into the grid. The company anticipates that the ALTI-ESS Advantage System
will play a key role in the joint pilot project with Shenhua S&T and NICE.
About Altairnano, Inc.
Altairnano is a leading provider of high-power,
energy storage systems for the electric grid, industrial equipment and
transportation markets. The company's lithium titanate technology is
built on a proprietary nano-scale processing technology that creates
high-power, rapid-charging battery systems with industry-leading
performance and cycle life. Altairnano is headquartered in Reno, Nevada
and maintains operations in Anderson, Indiana; Zhuhai, China; and Wu'an,
China. For additional information, please visit: www.altairnano.com.
About Shenhua Science & Technology
Shenhua Science & Technology is a
subsidiary of the Shenhua Group, which is an integrated energy enterprise
with businesses involved in coal production, electricity generation,
railway transport, ports, shipping, coal-to-liquids and
coal-to-chemicals, as well as a complete supply chain covering
production, transportation and trade. Shenhua Group is the largest coal
supplier in the world, and it has over 42,830 MW of power generation
capacity. Shenhua is headquartered in Beijing, and was ranked 293 on the
Fortune Global 500 in 2011.