Altair Nanotechnologies Inc. of Reno, a developer of power-storage systems, lost $21.9 million on revenues of $4.4 million in 2009. A year earlier, the company lost $29.3 million on revenues of $5.7 million.
The company said it's been spending more heavily than usual to build inventories of energy-storage systems to meet orders it expects this year.
At the start of the year, Altair had $18.1 million in cash on its books, down from $28 million a year earlier.
The company's biggest expense for the year was research and development at $10.3 million. It spent $16.9 million on R&D in 2008.
Altair said last week It's looking to sell its part of a joint venture with The Sherwin-Williams Co. to develop titanium dioxide pigments. It's negotiating to sell the interest to Sherwin-Williams.
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