Ener1 Powers Record-Breaking SuperBike

Lightning Motorcycles Sets Top Land-Speed for an Electric Motorcycle

Aug 24, 2011, 08:30 ET from Ener1, Inc.

NEW YORK, Aug. 24, 2011 /PRNewswire/ -- Powered by Ener1 (NASDAQ: HEV), a leader in lithium-ion energy storage solutions, Lightning Motorcycles shattered the land-speed record for an electric motorcycle (class APS-Omega) last week at 215.90 mph. Lightning's SuperBike set the record during the 63rd annual Bonneville SpeedWeek on the Bonneville Salt Flats outside Wendover, Utah.  Ener1 supplies the PHEV lithium-ion battery that powers Lightning's SuperBike.

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"It's extremely rewarding to be working with such an innovative customer like Lightning Motorcycles, which has set multiple land-speed records over the last year," stated Chris Cowger, president of Ener1.  "Lightning recently switched to using Ener1's automotive-grade, lithium-ion PHEV cells in their motorcycles, and we're glad to be part of the team that helped them achieve the world land-speed record.  We're also excited that the technology and innovation Lightning uses for its record-holding SuperBike will also be available when the company's electric commuter motorcycle and scooter hit the market next year."

In addition to using Ener1's PHEV cells in its SuperBike, Lightning Motorcycles also recently signed a supply and distribution agreement with Ener1.  The company will use its extensive experience in designing and engineering electric motorcycles to sell more PHEV and EV cells and energy storage solutions into the growing e-bike market.

"Ener1's PHEV cells performed flawlessly at Bonneville, and we're extremely pleased with our decision to switch to their energy storage solutions," stated Lightning Motorcycles Founder and CEO Richard Hatfield.  "Our goal is to push electric-motorcycle technology to parity with gas-powered motorcycles, and we believe Ener1 will be a terrific partner in helping us realize that goal for both our racing and commercial bikes."

Lightning Motorcycles had previously set the FIM and AMA official world record of 173.388 mph during the world final in October 2010.  During last week's Bonneville SpeedWeek, Lightning set a new land-speed record of 206.079 mph early in the week and then topped it again by setting the current land-speed record of 215.90 mph.

About Ener1, Inc.

Ener1, Inc. is a publicly traded (NASDAQ: HEV) energy storage technology company that develops compact, lithium-ion-powered battery solutions for the transportation, utility grid and industrial electronics markets. Headquartered in New York City, the company has nearly 700 employees with manufacturing locations in the United States and Korea. Ener1 also develops commercial fuel cell products and nanotechnology-based materials. For more information, visit Ener1's web site at www.ener1.com.

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MEDIA & INVESTOR RELATIONS CONTACT Brian Sinderson 212-920-3500 X117 brian.sinderson@ener1.com

SOURCE Ener1, Inc.