Pittsburgh, PA, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Altair International Corp. (the “Company” or “Altair”) (OTCQB Venture: ATAO) is pleased to provide the following update.
Operations of EV Lithium Solutions, Inc.
The proprietary, next-gen battery technology developed by EVLS, our Energy Storage Unit (“ESU”) has undergone significant improvement in recent months, and in a variety of aspects. We have entirely eliminated the use of Lithium in the ESU. As a result, we have battery which utilizes only electric fields and no electrochemical reactions at any stage of its function. As a direct consequence of this change, the ESU experiences none of the component degradation which takes place in Li batteries, and hence can handle an estimated 1,000,000 charge and recharge cycles with a useful life of an estimated 30 years, compared to 2-3000 for current standard Li batteries with a 10 year max lifespan.
The savings in weight compared to lithium batteries is substantial and translate to greatly increased range in EVs – the battery in a Tesla model S weighs roughly 550KG; our ESU with equal metrics in terms of power output, capacity etc. weighs roughly 400KG. The same energy to weight ratios of ESU:Li battery remain constant for ESU units of all sizes, showing a significant weight savings compared to Li batteries, in each and every one of our models.
Our unique architecture allows for configuration of the ESU to meet any variety of end-user application needs – maximum power output for shorter range, fast acceleration race vehicles of any type; slower discharge configurations for general energy storage applications (power grid backup storage) and everything in between, from forklifts, boats, construction sites, and so forth.
Interested parties can follow this link ( https://youtu.be/ytCsdykyFRI ) for a real-world demonstration of our ESU in action in the Elektra go-cart. The technical specifications of the ESU used in this Elektra demo are: 48V, 900Wh, 3KW.
EVLS is and will continue to diligently pursue avenues to commercialization of the ESU. Interested parties may inquire using the email address found below.
Stonewall Lithium and Kingsman Rare Earths Projects
Altair has recently amended its original agreement with American Lithium Minerals, Inc., to modify the required work commitments for the ’22, ’23, and ’24 calendar years. Further, we have fully satisfied our obligations to maintain the claims in good order with the US Bureau of Land Management. We continue to pursue this project and intend to work towards an initial NI 43-101 reserve estimate as soon as feasible.
About Altair: Altair International Corp (OTCQB: ATAO) is a diversified holding company whose strategy is to acquire interests in a range of profitable ventures within the Energy, Minerals, and Technology sectors.
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
FOR FURTHER INFORMATION, please visit the company’s website at: altairinternationalcorp.com, or contact info@altairinternationalcorp.com
