After sinking $3 million into a company, what better to do than utilize the synergies and compliments between the two and crank out new products to better our lives? AES is apparently digging said mantra and looking to profit on its strategic investment in Altair Nanotechnologies by announcing a "joint development and equipment purchase agreement." Essentially, the two will reportedly work together to jointly "develop a suite of energy storage solutions," some of which are expected to deliver over 1MW of power and 500KWh of energy. Unsurprisingly, Altairnano is supposedly working with AES to apply these products and systems at "strategic points within the electrical grid to more efficiently deal with congestion, peak energy consumption, and real-time fluctuations in electricity demand." Interestingly, little is being said thus far about the actual design of the unit, but a prototype is slated to be completed by the year's end.
Altair Nanotechnologies, AES collaborate on energy storage products
Darren Murph|July 24, 2007 7:12 AM