FORT LAUDERDALE, Fla., June 14 /PRNewswire-FirstCall/ -- Ener1, Inc. (OTC Bulletin Board: ENEI) (http://www.ener1.com) has named J. Gary McDaniel chief executive officer of its nanotechnology subsidiary, NanoEner, Inc. McDaniel has over 25 years of senior management and operations experience, most recently as president and CEO of Nanox, Inc., a company that develops nanostructured materials. He is charged with transitioning the nanotechnology operation from R&D to applications engineering, product design, manufacturing and sales. (Logo: http://www.newscom.com/cgi-bin/prnh/20040825/FLW010LOGO ) NanoEner is developing advanced nanomaterials for use in Ener1's lithium batteries and other high-energy storage devices. The Company's highly efficient and cost-effective process is designed to produce nanostructured electrodes that enable batteries to have extremely high discharge rates and an extended lifecycle when compared to those manufactured using existing technologies. The Company also plans to pursue other custom applications for its technologies, such as thin-film solar cells, catalytic and functional coatings, fuel cells and thin-film transistors for active-matrix liquid-crystal displays, and both thin-film superconductors and dielectrics. McDaniel reports to Pankaj Dhingra, president of Ener1's Energy Group. Dhingra said, "Gary's experience in advanced materials and nanotechnology is a great asset. We are confident his business acumen and leadership skills make him the ideal choice to lead the commercialization of our unique nanotechnology and our growing body of related intellectual property." McDaniel commented, "NanoEner has developed a cutting-edge manufacturing technology for the production of nanostructured materials. What I find most exciting about this process is that it is truly a 'platform technology' that can be customized to produce a variety of products." 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 division of W.R. Grace and Company. McDaniel has a Bachelor's degree in Chemical Engineering Administration from the University of Delaware and an MBA from the Merrick School of Business at the University of Baltimore. 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 through its NanoEner, Inc. subsidiary and fuel cell components and 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, 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: Joe Allen (investors) Alys Daly Allen & Caron Inc. Ener1, Inc. 212 691 8087 954 556 4020 firstname.lastname@example.org email@example.com
SOURCE Ener1, Inc.