Altair Nanotechnologies, Inc. (Altairnano) (NASDAQ: ALTI) has been selected by Inversiones Energéticas, S.A. de C.V. (INE), one of El Salvador’s largest electric utilities, to provide a turn-key 10-megawatts (MW) advanced battery system for frequency control.
Final contract terms are expected to be completed prior to year-end with construction of the ALTI-ESS system anticipated to begin in the first half of 2011.
The lithium-titanate ALTI-ESS system, by providing frequency control for the grid,
enables INE to better utilize its electricity generation facilities,
while improving the overall electric grid reliability.
Under the proposed agreement, Altairnano will have responsibility for site preparation, system installation, training, final testing and commissioning of the total solution.
"Altairnano’s ALTI-ESS advanced battery system provides an economical solution for managing voltage and frequency fluctuations, because of its ability to rapidly absorb energy from the grid, and just as quickly discharge energy back into the grid," stated Terry Copeland, Altairnano President and CEO.
Altairnano is headquartered in Reno, Nevada with manufacturing in Anderson, Indiana. The company makes systems for providing frequency regulation and renewables integration for the electric grid, as well as battery modules and cells for transportation and industrial applications.
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