FT. LAUDERDALE, Fla., Sept. 19 /PRNewswire-FirstCall/ -- Ener1, Inc.
(OTC Bulletin Board: ENEI) announced today that it has won the annual Florida
Governor's Innovation Award for its development of unique fuel cell
technologies. Ener1 was judged to "best exemplify innovative leadership"
based on Ener1's alternative fuel technologies, specifically its subsidiary
EnerFuel's ongoing partnership with the state of Florida in the development of
a methanol fuel cell to power a rest area along an interstate highway.
Florida Gov. Jeb Bush recognized the Company's efforts in helping
diversify the state's economy during Florida's Industry Appreciation Week. A
luncheon to honor Ener1 and other Florida companies to receive awards will be
"The awards are presented each year to recognize exemplary business
leaders who stand out for their notable achievements and community
contributions," said Gov. Bush. "The awards celebrate entrepreneurial spirit,
volunteerism, innovation and leadership."
EnerFuel, one of three alternative energy subsidiaries of Ener1, recently
won a grant from the Florida Hydrogen Initiative for its fuel cell project
known as the "HyTech Rest Area." The methanol used to power the hydrogen fuel
cell will be derived from theme park food waste and orange peels from the
state's citrus processing plants. The project will also help educate tourists
and commuters on the benefits of clean energy, at the same time improving the
environment and decreasing dependence on foreign sources of energy.
"We are committed to making the benefits of alternative energy a reality
for everyone in our state and in other parts of the world as well," said Kevin
Fitzgerald, Ener1 CEO. "Each of our three subsidiaries, including EnerDel and
NanoEner along with EnerFuel, is focused on the development of renewable power
sources and related technologies. We are honored to be recognized by Governor
Bush and by The Broward Alliance, which nominated us for this prestigious
About Ener1, Inc.
Ener1, Inc (OTC Bulletin Board: ENEI) is an energy technology company.
The company's interests include: 80.5% of EnerDel (www.enerdel.com), a lithium
battery company in which Delphi Corp. owns 19.5%; 49% of Enerstruct, a
Japanese lithium battery technology company in which Ener1's strategic
investor ITOCHU owns 51 %; wholly owned subsidiary EnerFuel, a fuel cell
testing and component company (www.enerfuel.com); and wholly owned subsidiary
NanoEner, which develops nanotechnology-based materials and manufacturing
processes for batteries and other applications (www.nanoener.com). For more
information, visit http://www.ener1.com.
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 involve risks and uncertainties,
including, but not necessarily limited to, the ability of Ener1 to complete
the proposed spin-off of its equity interests in EnerDel, Inc., NanoEner, Inc.
and EnerFuel, Inc., including securing financing to adequately capitalize each
company and obtaining required regulatory and third-party approvals;
successfully develop and market proposed lithium battery, fuel cell and
nanotechnology-based products and services; Ener1's plans to reduce costs and
gain a competitive advantage by consolidating manufacturing operations and
implementing automated production processes; charges Ener1 will incur in
connection with consolidating manufacturing operations; 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 need for additional capital, the dependency upon key personnel
and other risks detailed in Ener1's annual report on Form 10-KSB for the year
ended December 31, 2004, 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.
Contact: Michael Mason (investors) Alys Daly
Allen & Caron Inc Ener1, Inc.
212 691 8087 954 556 4020
SOURCE Ener1, Inc.