FORT LAUDERDALE, Fla., Sept. 12 /PRNewswire-FirstCall/ -- Ener1, Inc.,
(OTC Bulletin Board: ENEI) announced today that its EnerDel battery company
has installed its first mass production line for lithium ion (Li-Ion)
battery electrodes at the company's Indiana facility. The production line
is capable of producing the electrode equivalent of 5,000 Hybrid Electric
Vehicle (HEV) batteries (25KW) per month.
The investment in this new equipment is an important step forward in
the Company's plan to become a leading, U.S.-based supplier of Li-Ion
batteries for automotive applications. EnerDel can now demonstrate its
production approach and expertise to automotive companies and OEMs, as well
as begin their required qualification process to mass produce batteries for
their future HEV models.
EnerDel's production line also supports the company's work with the
United States Advanced Battery Consortium (USABC), a part of the U.S.
Council for Automotive Research a group for collaborative research among
DaimlerChrysler Corp., Ford Motor Co. and General Motors Corp. The USABC is
focused on securing a supply of U.S.-based Li-Ion batteries for the U.S.
auto industry. In June, USABC awarded EnerDel a contract to produce a new
Li-Ion battery based on advanced battery materials and low-cost production
technologies. The funding validates EnerDel's path to produce a battery
that is lighter, smaller and higher in power than existing HEV batteries.
EnerDel's production line includes two Hirano Tecseed Coaters, along
with the required facility infrastructure. Ulrik Grape, President of
EnerDel stated, "We've invested in the best production equipment for
launching the manufacturing program. From a quality control standpoint, it
is vital to have two coating lines to allow us to handle the coating of
anodes and cathodes separately to avoid any contamination."
He added, "Our Engineering team, one of our strongest assets, is making
the necessary modifications to the equipment in order to achieve stable and
low cost production based on their vast experience scaling up Li-Ion
battery production technology in Japan and Korea where 99% of all Li-Ion
battery production is located."
EnerDel believes that securing a local, U.S.-based supply of Li-Ion
batteries for hybrid vehicles is crucial to the success of automotive
manufacturers producing hybrids in North America. The U.S. is the largest
market for HEVs and the majority of the cars sold in the U.S. are also
Charles Gassenheimer, Chairman of Ener1, Inc. commented, "The goal here
is to reduce the dependence on foreign oil. It doesn't make sense to switch
our reliance on foreign oil to a dependence on a foreign supply of Li-Ion
Batteries for cars and trucks."
He added, "Our strategy is to become one of the first companies to
ensure a domestic supply of Li-Ion batteries. I am pleased with the
progress we are making in our ability to address this challenge for the
U.S. automotive industry."
About Ener1, Inc.
Ener1, Inc. (OTC Bulletin Board: ENEI) is an alternative energy
technology company. The company's interests include: 80.5% of EnerDel
(http://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 products and testing services company
(http://www.enerfuel.com), and wholly owned subsidiary NanoEner, which
develops nanotechnology-based materials and manufacturing processes for
batteries and other applications (http://www.nanoener.com). For more
information, visit 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 involve risks and uncertainties,
including, but not necessarily limited to: Ener1's ability to succeed as a
supplier of batteries to the hybrid electric vehicle and other markets;
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; EnerFuel's ability to develop and
sell products and services in its planned markets; 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 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.
SOURCE Ener1, Inc.