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azimuth detection accuracy by approximately 40% and helps to reduce calibration time. Low current consumption (200 µA) is also realized. http://www.alps.com/products/WebObjects/catalog. woa/E/HTML/Switch/Detector/SPVQ4H/SPVQ4H_list.html
Subscription Agreement (the “SSA”) initially entered into with Canon Investment Holdings Limited (“Canon”) on September 20, 2010 and subsequently amended on February 16, 2011 and May 17, 2011. This Third Amendment to the SSA extends the End Date to, and sets the Closing Date as June 20, 2011, but keeps in place Altairnano‘s ability to pursue other alternatives and to terminate the SSA at any time with no penalty. The SSA calls for Canon to acquire newly issued shares of the Company‘s common stock valued at $57.6 million, resulting in a 51% ownership on a fully diluted basis immediately upon closing. The Company stated in its press release of May 17, 2011 that, as of that point forward, it would be working toward closing with Canon and thoroughly examining alternatives to the Canon deal.
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Furthermore, Altair Nanotechnologies has been awarded a 3-year lease for its new ALTI-ESS Advan- tage 1.8 MW/ 300 kWh energy storage system. The system will be leased by Energy Storage Holdings, LLC, a unit of a major U.S.-based energy company. The project, to be initially located in New Jersey, will evaluate energy storage technology for large-scale frequency regulation projects, and is expected to be installed in late 2011. This project marks the debut
ltair Nanotechnologies Inc. (NASDAQ: ALTI) has agreed to a third amendment to the Share
Company (NYSE: BMY) resulting from a recently initiated Phase 2 clinical trial of an AMRI compound exclusively licensed to Bristol-Myers Squibb.
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This is the sixth milestone payment originating from a 2005 agreement in which AMRI licensed to Bristol- Myers Squibb its technology around central nervous system (CNS) triple reuptake transporter inhibitors as potential improved treatments for depression and diseases of the CNS. This payment brings the total milestone and licensing fees earned by AMRI related to the 2005 license agreement to $22.75 million. AMRI has also received $10 million in research col- laboration fees under the agreement. In addition to the compound entering Phase II clinical evaluation, Bristol-Myers Squibb is continuing to evaluate other collaboration compounds for depression and other indications.
Under the collaborative agreement, AMRI is eligible to receive up to $66 million in development and regulatory milestone payments per compound for the first two compounds and payments of up to $22 million per compound on subsequent compounds.
MRI (NASDAQ: AMRI) will receive a $3 million milestone payment from Bristol-Myers Squibb
of the ALTI-ESS Advantage, a 1.8 MW system targe- ted toward frequency regulation and fast-response applications demanding high power.
The ALTI-ESS has more than 2 years of commercial operation providing frequency regulation in the Uni- ted States while demonstrating excellent reliability and uptime. http://www.altairnano.com
11-05 :: May/June 2011