FORT LAUDERDALE, Fla., Sept. 8 /PRNewswire-FirstCall/ -- Ener1, Inc.
(OTC Bulletin Board: ENEI), an emerging leader in the development of advanced
lithium batteries, fuel cells and nanotechnology, has named Mr. Wilson
Greatbatch to the company's independent Advisory Committee. Mr. Greatbatch
invented the first successful implantable cardiac pacemaker and the lithium
battery technology that is considered today's international standard for
pacemakers and implantable cardioverter defibrillators.
"It is a true honor to have one of America's greatest inventors and
entrepreneurs join our company as a strategic advisor," said Kevin Fitzgerald,
Chairman and Chief Executive Officer of Ener1, Inc. "His inventions have
greatly enhanced the quality of life for millions of patients around the
world. Ener1 should benefit from his insights and relationships in the medical
device industry, a market where we see great potential for our battery
Ener1 is pursuing product opportunities for its high-rate lithium
batteries in the medical device market, such as pacemakers and defibrillators.
The market for these cardiac rhythm management devices is estimated at more
than $5 billion dollars, with the defibrillator share growing at an estimated
15 to 25 percent annually. Ener1 believes its lithium battery technologies
are well suited for cardiac devices that require safe, highly reliable, long-
life power sources with fast charge capabilities. In addition to medical,
other markets for the company's lithium batteries include power tools,
industrial equipment, military and automotive.
Mr. Greatbatch has more than 300 U.S. and International patents to his
credit. He currently serves as Chief Executive Officer of Greatbatch
Enterprises Corporation, a research and development company he founded to
design and develop components and devices for the medical device industry, as
well as electrical energy for future generations. He has received awards from
the National Academy of Engineering, MIT (Lifetime Achievement Award) and many
other prestigious institutions.
Mr. Greatbatch noted, "I look forward to actively contributing to Ener1's
efforts to establish itself in medical device and other markets. My knowledge
and experience in the medical device industry, together with Ener1's
technologies, such as its high-rate battery and nanotechnology-based vapor
deposition system, should be an excellent combination for pursuing the growing
opportunities in those markets."
About Ener1, Inc.
Ener1, Inc. (OTC Bulletin Board: ENEI) develops and markets new
technologies and products for clean, efficient energy sources, including fuel
cell systems and components, high-energy lithium batteries and components, and
nanotechnology-based materials and manufacturing processes. Ener1's
technologies and products have applications for industrial, medical, consumer
and military markets. Potential applications include power tools and
industrial equipment, medical devices, hybrid vehicle propulsion and military
communications. For more information on Ener1's technologies and products,
visit its Web site at http://www.ener1.com .
Safe Harbor Statement
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 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.
SOURCE Ener1, Inc.