FORT LAUDERDALE, Fla. and CHICAGO, Oct. 27 /PRNewswire-FirstCall/ -- ENER1 (OTC Bulletin Board: ENEI) nanotechnology subsidiary NanoEner Inc., announced today that its CEO Gary McDaniel will participate in a panel discussion regarding the latest advances in solar power technology at NanoCommerce/SEMI NanoForum 2005. The discussion will take place at 11:30 a.m. (Central) on Wednesday, November 2. The conference will be held at Chicago's McCormick Place. NanoCommerce/SEMI NanoForum 2005 represents a partnership of two premier nanotechnology events and is the largest business oriented nanotech show in North America. It unifies nanotechnology businesses and technology leaders by breaking across traditional industrial boundaries to explore new growth opportunities. NanoEner is developing nanotechnology-based materials and manufacturing processes that represent major innovations in battery and power technologies. The Company's Vapor Deposition Solidification (VDS) process is being used to produce battery electrodes (anodes and cathodes) with substantially more power output and faster recharging time. The VDS process can also be used for the manufacture of a new generation of advanced thin film photovoltaic solar cells that have great efficiency and lower cost per watt. "The VDS process allows for the creation of a wide variety of advanced nano-structured materials," said Gary McDaniel, CEO of NanoEner. "These novel materials provide superior performance compared to conventional thin film coating. These thin cell materials have shown tremendous promise in prototypes." McDaniel has more than 25 years of senior management and operations experience, most recently as president and CEO of Nanox, Inc., a company that develops nanostructured materials. At NanoEner, he is charged with transitioning the nanotechnology operation from R&D to applications engineering, product design, manufacturing and sales. Prior to his tenure as president and CEO of Nanox, McDaniel held senior posts at Tricat Industries, a global manufacturer of nano- and microadvanced materials; Katalistiks, a $90 million manufacturer of petroleum refinery catalysts; and the chemicals divisions of AZKO Noble and W.R. Grace and Company. About Ener1, Inc. Ener1, Inc. (OTC Bulletin Board: ENEI) is an alternative 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 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, EnerDel's ability to succeed as a supplier of batteries to the hybrid electric vehicle and other markets; 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
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