Altairnano Contract With INE for 10 Megawatt Energy Storage System in El Salvador Cancelled Due to Regulatory Issues (ALTI)

Altair Nanotechnologies ALTI, today announced that it received notification from Inversiones Energeticas, that it was exercising its right to terminate the contract signed in February 2011 for the 10 Megawatt ALTI-ESS advanced battery system for frequency control. According to the termination letter, INE's action was based upon notice it recently received from SIGET, the government entity that regulates the electric utility market in El Salvador. SIGET stated that the application of this new technology is not feasible in the short term as no procedures exist in the policies of the wholesale electricity market in El Salvador that regulate the operation of systems like the ALTI-ESS.