11-02/03 :: February / March 2011

nanotimes

Companies Facts

Furthermore, Altairnano had signed a binding con- tract with Inversiones Energéticas, S.A. de C.V. (INE), one of El Salvador‘s largest electric generation utilities, to provide a turn-key 10 Megawatt ALTI-ESS advanced battery system for frequency control. The contract, valued at 18 million U.S. dollars, requires Altairnano to provide a complete turn-key installa- tion at INE‘s Talnique power station, including all phases of site preparation, system installation, testing and commissioning. The ALTI-ESS uses Altairnano‘s patented lithium-titanate battery chemistry for its en- ergy storage system, which has been in commercial operation for approximately two years.

The Company and Canon Investment Holdings Limited have entered into a First Amendment to Share Subscription Agreement (the “Amendment”) to the Share Subscription Agreement dated September 20, 2010 (the “Agreement”) between the Company and Canon. Pursuant to the terms of the Agreement and the Amendment, Canon has agreed to acquire newly issued shares of the Company‘s common stock resulting in a 51% ownership immediately upon the closing. The Amendment, among other things, extends the closing deadline and the closing date for the proposed acquisition to May 17, 2011.

In addition, the Amendment allows the Company to raise additional capital from third parties prior to May 1, 2011 through issuances of shares of com- mon stock and/or warrants for up to 20% of the Company‘s outstanding shares of common stock, subject to an aggregate offering cap of US$7,500,000 if any issuance is made at a price (taking into account the implied value of any warrants issued in connec- tion with such issuance) lower than US$1.5528, the per share price at which Canon will be acquiring

newly issued shares of the Company‘s common stock.

End of March, Altair Nanotechnologies has entered into definitive agreements with select institutional investors to raise gross proceeds of approximately $6.4 million, before deducting placement agent‘s fees and other offering expenses, in a registered direct offering. Altair intends to use the proceeds from the offering for general corporate purposes and working capital to execute the recently announced customer contracts. http://www.altairnano.com http://www.mdb.com

gies company, has signed a definitive agreement to acquire The Switch Engineering Oy, a power tech- nologies company headquartered in Finland. The 190-million-Euro acquisition (approximately US$265 million based on current exchange rates) is expected to be immediately accretive and support AMSC’s growth to US$1 billion in annual revenues. With sales of both power converter systems and perma- nent magnet generators to wind turbine manufac- turers in China, Europe, Korea and the U.S., this acquisition will diversify AMSC’s customer base and channels to market.

A

“With highly complementary engineering capabilities and product offerings, the combination of The Switch and AMSC will provide significant additional value for our customers, partners and investors,” said Greg Yurek, founder and chief executive officer of AMSC. “Both AMSC and The Switch are well positioned in Asia, which is now the world’s largest and fastest

merican Superconductor Corporation (NASDAQ: AMSC), a global power technolo-

17