Altair Nanotechnologies, Inc. (Altairnano) reported financial results for the third quarter ended September 30, 2010.
"In the third quarter we took a major step forward in securing our financial future. In September, we entered into a Share Subscription Agreement with Canon Investment Holdings whereby they will invest $48.9 million into the company in return for a controlling interest. We also signed a concurrent supply and license agreement with Zhuhai Yintong Energy Co. Ltd., a subsidiary of Canon, that provides access to the vast Chinese market," said Dr. Terry Copeland, Altairnano’s President and CEO. "We are excited about the potential that the Canon and YTE relationship creates for both of our companies."