RENO, Nev., Sept. 25, 2003 (PRIMEZONE) -- Altair Nanotechnologies, Inc. (Nasdaq:ALTI) announced today that it has appointed Douglas K. Ellsworth to the position of President of its Nevada-based, wholly-owned subsidiary, Altair Nanomaterials, Inc. Additionally, the company announced the appointment of Kenneth E. Lyon to the position of Vice President of Business Development for Altair Nanomaterials, Inc.
Ellsworth began his career with Altair in January 2000 as Director of Administration and Operations Support. In July 2002, Ellsworth was named Vice President of Sales and Marketing. Prior to that, Ellsworth was the Manager of Technical Support for BHP Minerals' Center for Minerals Technology in Reno, Nevada, from 1984 through 1999. Ellsworth began work at BHP in 1984 as its chief chemist. Prior to joining BHP Minerals, Ellsworth worked as a chemist and manager at Sykline Labs in Colorado and Alaska and as a chemist for Utah International, Inc.'s Minerals Laboratory in Sunnyvale, California. Ellsworth received his B.S. degree in chemistry and geology from the State University of New York College, Oneonta.
"Doug has been successful in creating opportunities for the use of Altair's proprietary titanium pigment technology in a number of applications," said Altair Nanotechnologies President Dr. Rudi E. Moerck. "Over the last two years, Doug was instrumental in successfully negotiating development agreements for several titanium dioxide pigment programs, including two located in the Pacific Rim and another with a pigment manufacturer in the United States. Titanium pigment is an existing market with sales in excess of $8.5 billion. Our Hydrochloride Pigment Process (AHPP) offers pigment manufacturers here and abroad the ability to reduce production costs and provides them with an environmentally friendly solution that avoids deep welling of byproducts produced by some current manufacturing methods," added Dr. Moerck.
"Doug's extensive background and expertise make him an ideal leader for Altair Nanomaterials as the marketplace begins to comprehend the significant part nanomaterials can and will contribute to a multitude of end uses," continued Dr. Moerck. "This increased awareness is evidenced by the signing of a memorandum of understanding with Titanium Metals Corporation (TIMET) who, under a $12.3 million grant from the Department of Defense, will be using our custom formulated TiO2 electrodes as a raw material in a program to develop an innovative new titanium technology that is expected to reduce the cost of titanium. Doug was instrumental in Altair being selected as a participant in this program. In the new titanium metal process, more weight of titanium dioxide is consumed than the amount of titanium metal produced with oxygen as the byproduct."
"I have been working with some members of Altair's technology group, formerly with BHP, for almost 20 years," commented Ellsworth. "Our continued success will be based on addressing each project and opportunity as a team. Throughout my professional career, I have found that successful companies are those that work together to solve a problem or celebrate a breakthrough. As President of Altair Nanomaterials, I will continue to depend on our entire team of engineers, scientists and management to meet or exceed our goals."
Mr. Lyon joined Altair Nanomaterials in 1999 as a consultant and has held various positions with the company since 2000. Lyon's varied career includes a term with Conoco Chemicals, where he held positions including Senior Process Engineer in central research and engineering, Project Manager, Sales Manager and Plant Manager of a lubricating oil additives plant. Mr. Lyon went on to become President of Corporate Development at Alta Lipids USA, Ltd., a U.S. company licensed in an international consortium developing microencapsulation technology for rumen bypass of feed components and medicaments. Previously, Lyon worked for the Morrison-Knudsen Company as Director of Chemical and Energy Engineering. Later, he served as General Manager of Marketing for Latin America, and of industrial facilities worldwide, for MK International. Lyon received his B.S. degree in Chemical Engineering from the University of Idaho.
"Ken is an asset to the company and is spearheading a focused sales and marketing effort with a number of government agencies, including the Department of Defense and the Department of Energy," noted Dr. Moerck. "These agencies have a heightened interest in nanotechnology and its ability to provide alternative sources of energy and to produce smarter, stronger and less expensive materials and products for military and homeland security programs. Ken has successfully led the development of products and business opportunities utilizing Altair's nanomaterials, including an approximately $1 million Department of Energy grant for Altair and Western Michigan University to jointly develop titanium dioxide nanoparticle sensors for the detection of chemical and biological weapons. He will continue with business development activities, with a strong emphasis on obtaining government grants and research and development agreements with corporate partners," added Dr. Moerck.
Altair Nanomaterials, Inc.
Altair Nanomaterials, a wholly-owned subsidiary of Altair Nanotechnologies, Inc., owns a proprietary technology for making nanocrystalline materials of unique quality, economically and in large quantities. The company produces closely-sized nanoparticles of titanium dioxide and related ceramic oxide materials and compounds. Applications are found in products such as advanced batteries, fuel cells, thermal spray coatings, specialty paints, catalysts, plastics, cosmetics, solar cells and self-cleaning and sanitizing materials. In line with its cutting-edge position in nanotechnology, Altair is also designing materials to suit the nanoparticle applications of the future. Additionally, the technology may also be used to make paint pigment at a cost forecasted to be substantially lower than commercial technologies employed today.
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 proprietary technology for making nanocrystalline materials of unique quality both economically and in large quantities. The company is currently developing special materials with potential applications in pharmaceuticals, titanium pigment and metal, batteries, fuel cells, solar cells, advanced energy storage devices, thermal spray coatings, catalysts, cosmetics and environmental remediation. For additional information on Altair and its nanoparticle materials, visit www.altairnano.com.
Forward-Looking Statements
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