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 held today. "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 award." 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 firstname.lastname@example.org email@example.com
SOURCE Ener1, Inc.