Altairnano and Sherwin-Williams Form AlSher Titania, Joint Venture Company for Pigment Market
Wednesday April 25, 9:59 am ET
RENO, Nev.--(BUSINESS WIRE)--Altair Nanotechnologies Inc., a leading supplier of advanced ceramic nanomaterials announced today the formation of a new company, called AlSher Titania. AlSher Titania represents a joint venture with The Sherwin-Williams Company, one of the world's leading manufacturers of paint and durable coatings.
AlSher Titania will combine the Altairnano Hydrochloride Pigment (AHP) process and the Sherwin-Williams Hychlor Pigment (SWHP) process and other technologies to develop and produce high-quality titanium dioxide pigment for use in paint and coatings, and nano titanium dioxide materials for use in a variety of applications including those related to removing contaminants from air and water.
The new AlSher Titania pigment process is designed to produce titanium dioxide pigment at a significantly lower price point -- both in terms of capital outlay and operating costs -- as compared to sulfate and chloride-based technologies currently in use. Equally important is the improved environmental acceptability of the new materials and their production processes, as compared to current technologies.
White titanium dioxide pigment is mainly used in the production of paints, plastics, and paper and the total world market is valued at approximately $9 billion US, with a projected annual growth rate of approximately three percent.
"There is no better, or more respected, partner for entering the pigment market than The Sherwin-Williams Company. AlSher Titania is going to develop and produce great products for customers, for Sherwin-Williams, and for Altair Nanotechnologies," said Alan J. Gotcher, Ph.D., President and Chief Executive Officer of Altair Nanotechnologies Inc.
AlSher Titania, LLC will be based, initially, in Reno, NV. The pilot demonstration of the AlSher process is scheduled for 2007 with further scale-up and capacity expansions planned for 2008 and thereafter.
ABOUT ALTAIR NANOTECHNOLOGIES INC.
Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. Altairnano's leading-edge scientists are complemented by a seasoned management team with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process.
Source: Altair Nanotechnologies Inc.
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