Altair teams with Titanium Metals

Jan. 16, 2004 — Altair Nanomaterials Inc. (News, Web) said it would receive $150,000 for its role in the first phase of a federally funded program to lower the cost of producing titanium metal and expanding its use, according to a news release.

Altair Nanomaterials, a subsidiary of Altair Nanotechnologies Inc. (Nasdaq: ALTI, News Web), has teamed up with Titanium Metals Corp. (NYSE: TIE, Web) to develop a low-cost manufacturing process for titanium dioxide pellets that are critical to the production of titanium metal.

The U.S. Defense Advanced Research Projects Agency awarded Titanium Metals a four-year, $12.3 million contract to develop the technology, which could result in a lighter, stronger material for armored military vehicles, automotive components and consumer goods. Titanium, one of the Earth’s most abundant elements, is lighter and as strong as steel, yet remains expensive to refine because of a multistep, high temperature batch process.

Altair Nanotechnologies, listed on Nasdaq, closed Thursday at 3.52, up from 3.37 Wednesday.


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