FT. LAUDERDALE, Fla., Feb. 14 /PRNewswire-FirstCall/ -- Ener1, Inc.
(OTC Bulletin Board: ENEI) announced today that its NanoEner, Inc. subsidiary
has established and equipped a pilot nanotechnology-based manufacturing
facility to fabricate electrodes for high discharge rate, lithium-ion
batteries. The company's battery subsidiary, EnerDel, Inc., in which Delphi
Corporation holds a 19.5% interest, is in discussions with automotive OEMs
regarding evaluation of samples for use in hybrid electric vehicles where the
high discharge rate characteristic is viewed as key to performance and cost.
EnerDel also plans to explore applications of this technology in other
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The company's new nanotechnology based manufacturing process can be used
to produce electrodes (anode and cathode) with substantially more power output
and higher discharge rates (both key factors in meeting the higher performance
requirements for lithium-ion batteries for hybrids and other applications), as
well as much faster recharging times. The company believes that its
proprietary nanotechnology process for producing electrodes, which is based on
its proprietary vapor deposition process and equipment, represents a major
innovation in battery technology that could greatly improve performance in
many existing and emerging battery-powered applications.
"The automotive industry (and many other industries as well) are looking
for a high-power battery solution that will enable their next generation
products to become a reality at a cost that is commercially viable," said
Pankaj Dhingra, who, as earlier announced, joined Ener1, Inc. in December as
its Energy Group President, coming from Delphi Corporation where he oversaw
their Energy Systems Group. "I believe the performance advantages and
efficiencies offered by our nanotechnology provide that solution, and our new
pilot facility is a big step in that direction."
The Company's new facility has three beta-phase apparatus stations with
specially designed software-based controls for continuous fine-tuning and
monitoring of all aspects of the vapor deposition-based, nanoproduction
process, which allows maintenance of desired electrode structures to the nano
level. All of the proprietary production equipment and related-nanotechnology
processes used in the facility were designed by the company's scientists and
Utilizing improved processes for deposition of thin films to form the
electrodes, the company's nanotechnology-based production process employs the
vapor deposition technique to precisely and efficiently deposit electrode
materials with the electrode structures needed for extremely high discharge
rates. The results are more power and a high rate of discharge -key
requirements not only for hybrid batteries, but also for other applications
that require quick bursts of power. The company's new electrode production
system also allows for the use of low cost raw materials and eliminates the
need for undesirable additives such as binders and solvents that can slow a
battery's rate of power output. The company believes these advantages will
make its nanotechnology-based production process far superior to existing
electrode manufacturing processes as well as highly competitive with other
nano-related methods to produce high-powered electrodes.
Ener1 has been working on its nanotechnology and nanoproduction processes
for many years and also has collaborated with Enerstruct Inc., the joint
venture company that Ener1 owns with ITOCHU Corporation, a multi-billion
dollar Japanese industrial company that has invested several million dollars
in Ener1. Further support for the company's technology has come from results
of an independent test performed at a major Japanese university last year,
which indicated that electrodes produced with the company's nanotechnology are
capable of discharge rates many times higher than current lithium ion
batteries. Those results were published in a leading Japanese electronics
journal, Nikkei Electronics, as described more fully in a previous press
release by the company.
Kevin Fitzgerald, Ener1's Chairman and CEO, added "We have seen very
promising results in electrodes produced using our prototype equipment and
expect them to further improve. The pilot facility brings us much closer to
the commercialization of our nanotechnology in lithium batteries. It will
also enable us to explore other market opportunities in our areas of interest,
such as fuel cells, super capacitors and even electronic wires, all of which
will benefit from the high discharge rates and other performance and cost
advantages of our nanotechnology."
About Ener1, Inc.
Ener1, Inc. (OTC Bulletin Board: ENEI) develops and markets new
technologies and products for clean, efficient energy sources. Ener1 markets
lithium batteries and battery packs through EnerDel, its majority-owned
venture with Delphi Corp. Ener1 also develops and markets nanotechnology-based
materials and manufacturing processes and components through its NanoEner,
Inc. subsidiary. Ener1 develops selected fuel cell components and provides
fuel cell related testing services through its EnerFuel, Inc. subsidiary.
Ener1's products have applications for markets that include power tools and
industrial equipment, medical devices, hybrid vehicle propulsion and military
communications. For more information on Ener1's products, please visit its Web
site at 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, the ability of Ener1
to successfully develop and market proposed lithium battery, fuel cell and
nanotechnology-based products and services, 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, 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.
CONTACT: Alys Daly of Ener1 Inc., +1-954-556-4020
SOURCE Ener1 Inc.