10-05/06 :: May/June 2010
with Proterra and accepted an additional order for $850,000 to supply battery modules over the coming months;
• Substantial progress towards closure of an inter- national sale of a 10MW complete ALTI-ESS system solution for a frequency regulation application;
• Completed the sale of AlSher joint venture interest to Sherwin-Williams and exit from the Performance Materials market;
• Final payment made on Reno headquarters property debt.
Financial Highlights for first quarter 2010 compa- red to 2009
• Revenue of $1.2 million compared to $0.9 million; • Gross margin of $0.3 million compared to $0.5 million;
• Operating expenses of $6.4 million compared to $6.9 million;
• Net loss of $6.1 million compared to $6.4 million; • Net cash burn of $5.8 million compared to $6.1 million.
Altairnano‘s cash and cash equivalents decreased by $5.8 million, from $18.1 million at December 31, 2009 to $12.3 million at March 31, 2010.
Furthermore, Altairnano received a grant award of $100,000 from the U.S. Department of Energy under the Small Business Research and Small Business Technology Transfer programs. Research under the grant is expected to begin the week of June 20th and continue for a six month period. Under the grant, Al- tairnano will conduct research relating to the surface modification of electrode coatings in battery cells with the objective of increasing temperature and
cycle life performance by decreasing reaction rates with the electrolyte.
“This grant represents an important milestone in our work with the Department of Energy and demons- trates the agency‘s commitment to advancing dome- stic energy storage solution technologies,” said Terry M. Copeland, Ph.D., Altairnano‘s chief executive officer. “Altairnano‘s energy storage and battery sy- stems already perform at some of the highest tempe- rature ratings and life cycles.” http://www.altairnano.com
blic-private partnership aimed at promoting innova- tion and enhancing the value of businesses in Japan, recently announced the official incorporation of the new company ALPS Green Devices Co., Ltd. Presi- dent and CEO of the new company is Yasuhiro Fujii. ALPS Green Devices is a partial spin-off of ALPS’ business with regard to power conversion and power control devices. It will start operations in June 2010.
Furthermore, with the SCDB3A02, ALPS ELECTRIC EUROPE GmbH offers a 3-in-1 combine type con- nector which allows the use of SD Memory Card, Multimedia-Card, and Memory Stick in one single slot. The surface-mountable connector is available as standard mount type. It is remarkable for its compact dimensions of only 29.5mm x 30.4 mm x 4.2 mm (W x D x H) and an ejection stroke of 6.5mm for the storage media. For enhanced user-friendliness, the combine type connector is realized as push- push type, which allows an easy handling through manual insertion and removal of the memory cards. Thereby the SCDB3A02 guarantees an operating life
LPS ELECTRIC (Tokyo: 6770) and Innovation Network Corporation of Japan (INCJ), a pu-