Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > EnerDel Provides Market Update on Think Global Supply Agreement

Abstract:
EnerDel, the advanced automotive battery systems division of alternative energy company Ener1, Inc. (BULLETIN BOARD: ENEI) , today announced its progress toward meeting the lithium-ion battery system deliverables schedule under a supply contract with Think Global.

EnerDel Provides Market Update on Think Global Supply Agreement

INDIANAPOLIS, IN | Posted on April 2nd, 2008

EnerDel has delivered the first mechanical prototype of the lithium-ion battery pack for the new TH!NK City vehicle for form and fit evaluation. The pack has been installed in a sample vehicle, which the Norwegian company delivered to EnerDel's Indianapolis facility last week.

Through the end of April, EnerDel will deliver additional functional prototype packs that will be tested at EnerDel, evaluated in the sample electric vehicle, and undergo third-party performance assessment. Before the end of the first half of the year, EnerDel expects to have its electric vehicle battery pack operating in the TH!NK City. EnerDel is providing a total systems solution for the battery pack, including cells, electronics and vehicle integration.

"We have an aggressive time-to-market schedule for providing the lithium- ion battery solution for the world's leading electric vehicle," said EnerDel CEO Ulrik Grape. "The testing phase is now commencing and we are confident that we will provide production of the TH!NK City battery on schedule by the end of 2008."

"We are very pleased with the progress EnerDel and Think have made together on the lithium-ion battery solution," commented Think President and CEO Jan-Olaf Willums.

EnerDel is increasing capacity for volume production of the lithium-ion battery system for Think, including by tapping the company's close relationship with ITOCHU Corporation. As the global leader in the provision of automotive battery-making equipment, ITOCHU serves as a strategic partner of Ener1 for the development of manufacturing capacity. ITOCHU provided venture-round funding to Ener1 in 2003.

"Based on the size and scope of Think's aggressive business plan, battery manufacturing capacity is the crucial issue that we are tackling right now," said Ener1 Chairman Charles Gassenheimer. "Cooperation with ITOCHU will significantly contribute to scaling up production capacity to meet our Norwegian partner's battery demands."

About EnerDel

EnerDel is owned by Ener1, Inc. (80.5%) and Delphi Corporation (19.5%). EnerDel has a production facility in Indianapolis, Indiana. EnerDel currently employs approximately 65 highly experienced engineers and technicians involved in the battery development of both cells and systems. For more information, please visit: www.enerdel.com.

####

About Ener1, Inc.
Ener1, Inc. (BULLETIN BOARD: ENEI) is a demand-side alternative energy technology company that is developing 1) lithium-ion batteries for hybrid and electric vehicles (HEV, PHEV and EV) at its owned EnerDel subsidiary, 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 www.ener1.com and or call 954-556-4020.

About THINK Global

Think designs, develops, manufactures and markets environmentally friendly vehicles and technologies. The company has more than 17 years of experience in developing and producing electric vehicles. Today, 1,200 TH!NKs are driving on Norwegian roads. The new TH!NK City is a fifth generation electrical vehicle assembled at Aurskog, Norway. Series production of the car started late last year and the first cars will be delivered to Norwegian customers. Later this year, the car will be launched in selected markets in Europe. The capacity of its first assembly plant in Aurskog outside Oslo, Norway is presently being increased to 10,000 cars per year, which Think expects to reach during 2009. Strong owners with visions and resources want to make Think the "car company of the 21st century". For more info: www.think.no.

For more information, please click here

Contacts:
Michael Mason (investor relations)
Allen & Caron Inc.
212 691 8087


Jerry Herlihy (Ener1)
954 556-4020 x310

Copyright © PR Newswire Association LLC.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

New Method Uses DNA, Nanoparticles and Top-Down Lithography to Make Optically Active Structures: Technique could lead to new classes of materials that can bend light, such as for those used in cloaking devices January 18th, 2018

Arrowhead Pharmaceuticals Announces Pricing of Underwritten Public Offering of Common Stock January 18th, 2018

Leti to Demo New Curving Technology at Photonics West that Improves Performance of Optical Components January 18th, 2018

Arrowhead Pharmaceuticals Announces Proposed Underwritten Offering of Common Stock January 17th, 2018

Announcements

New Method Uses DNA, Nanoparticles and Top-Down Lithography to Make Optically Active Structures: Technique could lead to new classes of materials that can bend light, such as for those used in cloaking devices January 18th, 2018

Arrowhead Pharmaceuticals Announces Pricing of Underwritten Public Offering of Common Stock January 18th, 2018

Leti to Demo New Curving Technology at Photonics West that Improves Performance of Optical Components January 18th, 2018

Arrowhead Pharmaceuticals Announces Proposed Underwritten Offering of Common Stock January 17th, 2018

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Ultra-thin memory storage device paves way for more powerful computing January 17th, 2018

Novel MOF shell-derived surface modification of Li-rich layered oxide cathode December 29th, 2017

Paving the way for a non-electric battery to store solar energy: UMass Amherst scientists say a polymer chain organized like a string of Christmas lights assists energy storage December 22nd, 2017

Sandia researchers make solid ground toward better lithium-ion battery interfaces: Reducing the traffic jam in batteries December 13th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project