FORT LAUDERDALE, Fla., Sept. 7 /PRNewswire/ -- Ener1 Group, Inc.
( http://www.ener1group.com ), a privately held technology investment company,
today announced the launch of PrioVista Laboratories, Inc. together with
partners ITOCHU Corporation and Enerstruct Inc. The new company will leverage
Ener1 Group's relationships with scientists and inventors at universities and
research labs, as well as ITOCHU's vast network of industry leaders and
PrioVista will concentrate its incubation activities on technologies that
have applications for the energy, biomedical, information and
telecommunication markets. The company will incubate its technology through
the proof-of-concept stage, at which time it will either license or partner
with another company for mass production.
PrioVista's first initiative is the development of raw materials that are
critical to the performance of lithium-ion batteries. The company is
engineering a new process to produce cathode materials that would offer
greater product quality and production flexibility at a lower cost than
existing methods used to mass manufacture cathode materials. PrioVista has
assembled a team of senior engineers with expertise in developing and
producing lithium-ion raw materials, and PrioVista is working with equipment
manufacturers to develop the unique production process. PrioVista expects to
begin demonstrating its new production process by the beginning of 2006.
The market for raw materials is expected to escalate 300 percent by 2013,
compared to 2004. This significant growth is due to the demand for lithium-ion
batteries that will be used for hybrid electric vehicle applications.
About Ener1 Group
Ener1 Group, a privately held company, invests in companies that are using
their unique technologies and know-how to aggressively pursue and gain
leadership positions in a variety of multi-billion dollar technology and
technology-driven sectors, such as nanotech, healthcare, alternative energy
and software. For more information about Ener1 Group, Inc., visit
http://www.ener1group.com , or call 954-202-4442.
ITOCHU Corporation is one of the largest companies in the world, with
interests in almost every aspect of commerce and industry. The Tokyo, Japan-
based corporation has annual revenue of more than $90 billion and 160 offices
in more than 80 countries. It has been in business for 145 years, including
85 years in the United States.
SOURCE Ener1 Group, Inc.