Altairnano has signed a long-term agreement with Proterra to supply advanced lithium-ion battery modules for incorporation into Proterra’s all-electric and hybrid-electric buses.
Altairnano said that this technology will enable these buses to completely recharge in under 10 minutes, providing high levels of uptime and efficiency. Combined with cycle life, these batteries are ideally suited for the operating conditions experienced by commercial transit buses.
The initial purchase order of $4.6 million is for delivery of modules through June, 2011 with ongoing orders anticipated thereafter as Proterra gains customer traction and completes its manufacturing facility in Greenville, South Carolina. This is a follow-on order to the two earlier orders announced in August, 2009 and April, 2010.
Proterra’s electric and hybrid-electric buses are being marketed to municipalities and transportation authorities throughout the Americas and Europe. The two companies will work closely together to drive down the overall costs of the end product to the customer and add near-term credibility of a greener, more energy independent nation in the mass-transit arena.
Terry Copeland, president and CEO of Altairnano, said: “This purchase and supply agreement represents a significant milestone and illustrates the growth opportunities present within the mass transit market. This transaction marks the culmination of more than two years of collaboration with Proterra.”
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