FT. LAUDERDALE, Fla., April 20 /PRNewswire-FirstCall/ -- Kevin P. Fitzgerald, Chairman and Chief Executive Officer of Ener1, Inc. (OTC Bulletin Board: ENEI) (www.ener1.com), an emerging leader in the development of advanced lithium batteries and fuel cell technologies, told CEOCast, a web-based financial site, that Ener1 is positioned to "play in both the hybrid market and electric car market." Ener1's high discharge lithium batteries have immediate applications for gas-electric hybrid cars, and the company is developing a complete fuel cell solution for the future electric car market. Fitzgerald said corporate milestones investors should watch for over the next nine months include strategic partnerships in the automotive and industrial industries that will validate Ener1's technology and generate revenue long-term. He added that the company's manufacturing facility, which will produce high-discharge lithium battery cells for military and industrial markets, will be fully operational by year's end. Fitzgerald also commented on the company's new subsidiary NanoEner, Inc, which was recently formed to develop new markets and applications for Ener1's proprietary nanomaterial manufacturing technologies. Ener1 currently uses its nanotechnology in the development of nanostructure electrodes that enable batteries to have extremely high discharge rates and extended cycle life. For more information on NanoEner, visit www.nanoener.com. To listen to the complete interview on CEOCast, log on to www.ceocast.com. About Ener1, Inc. Ener1, Inc. (OTC Bulletin Board: ENEI.OB) develops and markets new technologies and products for clean, efficient energy sources including high- energy lithium batteries, fuel cells and solar cells. Ener1's technologies and products have applications for military, industrial and consumer markets, ranging from lightweight battery packs for military field use and high-end consumer applications to fuel cells and high-rate lithium-ion batteries for electric vehicles. For more information, visit the company's Web site at http://www.ener1.com or call (954) 556-4020. Safe Harbor Statement (ENER1, Inc.) This release contains forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995 conveying management's 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 include statements related to Ener1's plans for NanoEner Inc. and the development of new markets and applications for its nanomaterials manufacturing technologies. These forward- looking statements involve risks and uncertainties, including, but not necessarily limited to, Ener1's ability to successfully develop and market its proposed products and services, the degree of competition in the market for Ener1's products and services, Ener1's history of operating losses, the lack of any operating history for Ener1's development stage battery and fuel cell business, the potential need for additional capital and Ener1's dependency upon key personnel. These and other risks are detailed in Ener1's annual report on Form 10-KSB for the year ended December 31, 2003, as well as in its other filings 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. Ener1 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Media Contact: Alys Daly Ener1, Inc. 954-556-4020 ext. 319 305-815-0312
SOURCE Ener1, Inc.