Bought Some Altair Nanotechnologies

Altair Nanotechnologies (ALTI) has been a bad investment for us, but I liked a press release that the company issued a couple of days ago and decided to add to our ALTI holdings. The buy was executed at $0.77 per ALTI share. From the press release.

"Altairnano 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."

The following is a quote from Altairnano's CEO Alexander Lee.

"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. This agreement sets the foundation for rapid commercialization within China."

ALTI 52-week range: $0.40 - $1.48.