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Ener1, Inc. (OTCBB: ENEI), an alternative energy company, announced that its EnerDel subsidiary has received orders to deliver lithium ion (Li ion) battery samples based on its proprietary technology to a leading European OEM automotive company and to a leading tier one automotive supplier. The samples will be tested as part of programs to use Li ion batteries in hybrid electric vehicles. EnerDel is also in discussions with several U.S. based OEMs and tier-one automotive suppliers for delivery of Li ion battery samples for evaluation.
Subhash Dhar, President of Ener1 Inc & Vice Chairman of EnerDel, commented, "Receiving sample orders from leading OEMs is a significant milestone for EnerDel as part of its plan to become a preferred battery supplier to the automotive industry for the growing hybrid electric and plug-in hybrid electric vehicle applications." He added, "We believe that this further validates the company's technology as we continue to follow our plan of commercial breakthrough in the fast growing market for hybrid and plug-in hybrid electric vehicles."
About Ener1, Inc.
Ener1, Inc. (OTCBB: ENEI) is an alternative energy technology company that is developing 1) lithium ion batteries for hybrid electric vehicles (HEV) at its 80.5% owned EnerDel subsidiary through corporate ventures and strategic partnerships with Delphi, ITOCHU and EnerStruct, 2) commercial fuel cell products through its EnerFuel subsidiary, and 3) nanotechnology-based materials and manufacturing processes for batteries and other applications at its NanoEner subsidiary. For more information, visit http://www.ener1.com and http://www.enerdel.com or call 954-556-4020.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995 conveying management expectations as to the future based on plans, estimates and projections at the time the statements are made. The forward-looking statements contained in this press release involve risks and uncertainties, including, but not necessarily limited to: EnerDel's ability to succeed as a supplier of batteries to the hybrid electric vehicle and other markets; Ener1's ability to successfully develop and market proposed lithium battery, fuel cell and nanotechnology-based products and services; the degree of competition in the markets for lithium battery, fuel cell and nanotechnology-based products and services; Ener1's history of operating losses; the lack of operating history for the development stage Ener1 businesses; the immediate need for substantial additional capital; the dependency upon key personnel; and other risks detailed in filings made from time to time with the Securities and Exchange Commission. These risks and uncertainties could cause actual results or performance to differ materially from any future results or performance expressed or implied in the forward-looking statements included in this release. There can be no assurance that EnerDel will enter into additional contracts for delivery of Li ion battery samples, or that the companies to which battery samples will be delivered will order batteries from EnerDel. Ener1 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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