Altair Nanomaterials (ALTI) announced that it has been awarded a $250,000 grant from the Indiana Advanced Energy Technologies Program (AETP) initiative. The grant funding must be used to manufacture products containing products that are not currently in the U.S. market, and that are above industry standard in terms of energy efficiency (e.g. hybrid automobiles, fuel cells) and/or incorporate an innovative technology, such as nanotechnology, that allows the product to save energy. [ more ]

The grant money will be used for test equipment for the manufacturing of lithium ion cells, batteries, and battery packs. The stock gapped open this morning with a quick 5% gain on the news but has since pulled back.