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MEMORANDUM OF UNDERSTANDING

Collaboration Agreement

MEMORANDUM OF UNDERSTANDING | Document Parties: ALTAIR  NANOMATERIALS,  INC  | Hosokawa Nano Particle  Technology  Center  | Hosokawa Micron International Inc. You are currently viewing:
This Collaboration Agreement involves

ALTAIR NANOMATERIALS, INC | Hosokawa Nano Particle Technology Center | Hosokawa Micron International Inc.

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Title: MEMORANDUM OF UNDERSTANDING
Date: 3/26/2004
Industry: Chemical Manufacturing    

MEMORANDUM OF UNDERSTANDING, Parties: altair  nanomaterials   inc  , hosokawa nano particle  technology  center  , hosokawa micron international inc.
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EXHIBIT 10.15

 

                           MEMORANDUM OF UNDERSTANDING

 

This Memorandum of Understanding (the   "Memorandum")   constitutes a statement of

the mutual understanding between the following parties:

 

ALTAIR   NANOMATERIALS,   INC having an office at 204 Edison Way,   Reno,   NV 89502

(hereinafter referred to as "Altair"); and

 

Hosokawa Nano Particle   Technology   Center (USA) an   unincorporated   division of

Hosokawa Micron International Inc., having an office at 10 Chatham Road, Summit,

NJ 07901 (hereinafter referred to "Hosokawa").

 

The   parties   are    hereinafter    referred   to   singularly   as   a   "Party,"   and

collectively as the "Parties," as the context requires.

 

This   Memorandum   describes   certain   efforts to be undertaken by the Parties in

exploring the possibility of their collaboration for the purpose of:

 

         o     developing and using their combined technical   advantage to secure

              a commercial   position in the developing   technologies and markets

              that utilize nano materials (defined as materials that average 100

              nm or less   in   diameter)   in the   electrodes   of   electrochemical

              devices including batteries, capacitors, and supercapacitors, and,

 

         o     strengthening   the technical and market position of the Parties by

              combining   technological   and   financial   strengths,   and existing

              manufacturing   capabilities   as they apply to enhanced   nano sized

              anode and cathode   materials made or proposed to be made by Altair

              and treated or coated by Hosokawa and,

 

         o     exploring   and    utilizing    funding   of    development    work   and

              commercialization    activities   including   erection   of   dedicated

               facilities   to supply   commercial   quantities of treated or coated

              nano sized cathode and anode materials for use in   electrochemical

              devices.

 

Except for the initial   test of the combined   technologies   as described in item

one (1) below,   neither   party shall be bound or   restricted by any provision of

this   Memorandum   with   respect   to   the   negotiation   of a   further   definitive

agreement, nor shall either Party have any obligation to enter into a definitive

agreement   with respect to the matters   described   herein.   Binding   commitments

between   the   Parties   with   respect to   licenses   or   commercial   relationships

described in sections 6 and 7 will result only from the execution of one or more

binding,   definitive agreements mutually acceptable to both parties, and will be

subject   to the   conditions   expressed   therein,   as well   as the due   diligence

investigation   of   each   Party,   the   receipt   of   all   necessary   governmental,

regulatory and financing   approvals,   and compliance with the legal requirements

of applicable jurisdictions.

 

Altair owns machinery and equipment with   capability and   intellectual   property

including    patents    and   patent    applications    to    manufacture    nano-sized

electrochemical   cathode   and anode   materials   including,   but not   limited to,

LiTi4O12,   LiMnO2,   and LiCoO2.   Hosokawa   owns   machinery   and   equipment   with

capability and intellectual   property to apply particle coatings including,   but

not   limited   to,    conductive    graphite    and   carbon    black   to    nano-sized

electrochemical cathode and anode materials of the types manufactured by Altair.

 

Based on the foregoing, the Parties acknowledge and agree as follows:

 

         1. The   Parties   agree to fund a test of the   performance   of   Altair's

nano-sized   Li4Ti5O12   coated by Hosokawa at two density   levels with   acetylene

 

                                       1

<PAGE>

 

black (to be provided by Altair) in Rutgers University's   proprietary assymetric

hybrid   supercapacitor   prototype.   The   initial   screening   test   of   just   two

densities   (which will be   performed   by Rutgers   University   ("Rutgers")   at no

charge   to the   Parties)   will be   followed   by an   optimization   study   using 3

commercial   nano-sized   carbon   sources and applied at two density   levels and 3

weight   percentages   of carbon   coating   (hereafter   referred to as the "Initial

Study") provided

 

         a.         the Parties   mutually agree that the performance of the first

                   two carbon coated   materials   sufficiently   demonstrates   the

                   merit of funding continuing studies;

 

         b.         A contract is negotiated   by and among   Altair,   Hosokawa and

                   Rutgers,   which   provides   for   the   protection   of   all   the

                   publication rights and IP interests of Altair and Hosokawa to

                   their mutual satisfaction; and,

 

         c.         C


 
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