The fact that many of the emerging electric vehicles are from European companies, as demonstrated at the 2009 Frankfurt Motor Show, has not been lost on the company behind Enerdel's lithium batteries. And how could it be? Ener1 already has existing arrangements with Th!nk, Fisker and Volvo and can most recently be found within the newly-unveiled battery-powered version of the Volvo C30. It's not a great shock then that the company has decided to open up a European division that will allow them to pursue other market opportunities, such as grid storage, and facilitate future custom battery-pack building plans.

Heading the operation will be former Enerdel CEO Ulrik Grape. The Norwegian has had a lot to do with the company's stateside accomplishments and will no doubt be key to the success of Ener1 Europe as President and prime mover. He sums up the Euro-situation thusly:
Our headquarters is in America, but many of our core customer relationships are in Europe, and it now becomes crucial to establish ourselves with a commanding presence in a market where we expect to aggressively build our business both in automotive and in the fast growing market of electricity grid storage and infrastructure.
Hit the break for the official press release.

[Source: Ener1 via Green Car Congress]



PRESS RELEASE:

ENER1, A LEADER IN LITHIUM-ION BATTERIES FOR AUTOMOTIVE APPLICATIONS, ESTABLISHES EUROPEAN DIVISION AND APPOINTS ULRIK GRAPE, PRESIDENT OF ENER1 EUROPE

New York, NY (September 17, 2009) – ENER1, Inc. (NASDAQ: HEV), a U.S. based leader in lithium-ion batteries, has announced it is creating a European Division and has appointed Ulrik Grape, a veteran of the lithium-ion business, as President of Ener1 Europe. Ener1 is listed on the NASDAQ exchange and through its subsidiary EnerDel, designs, develops and manufactures, advanced high energy density, lithium-ion batteries to power the next generation of hybrid, plug-in hybrid and pure electric vehicles as well as military applications. Ener1 also develops commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary.

The European division is being created to meet growing demand for electric drive and battery technology among Europe's top car companies as well as other business opportunities involving energy storage applications. Ulrik Grape, a Norwegian by birth, will lead the division drawing on over a decade of experience in the lithium-ion business and the launching of several new start-ups in his career. Grape was previously CEO of EnerDel and successfully led the company through a ground-breaking expansion including massive capital investment, winning its first customer contracts and installation of a state-of-the-art mass production line.

It has also been announced today that Ener1 has teamed up again with Volvo Cars to provide lithium-ion power for the exciting new C30 Battery Electric Vehicle. This follows on from the recently announced collaboration with Volvo on the plug-in hybrid V70 demonstration vehicles being tested in Europe this fall, which also feature EnerDel lithium-ion batteries.

Commented Ulrik Grape, President of Ener1 Europe,

"European automakers are really setting the pace in terms of electric and plug-in hybrid vehicle development. You only have to look at the plethora of new products and technology concepts being launched at the Frankfurt Show this week to see that."

"Our headquarters is in America, but many of our core customer relationships are in Europe, and it now becomes crucial to establish ourselves with a commanding presence in a market where we expect to aggressively build our business both in automotive and in the fast growing market of electricity grid storage and infrastructure."

"We are also looking ahead to a time when business growth makes it sensible to extend custom-tailored pack assembly capacity closer to where customers need it."

There is tremendous momentum in the Ener1 business - the company has announced active relationships with Think Global, Fisker and Volvo, and has a research program with Nissan. The company was recently selected to be awarded a $118.5 million grant from the U.S. Department of Energy under the federal stimulus program and is awaiting approval of additional long-term, low-interest loan funds under the agency's Advanced Technology Vehicle Manufacturing program. EnerDel's two factories in Indianapolis are the first -- and so far only -- commercial-scale automotive lithium-ion battery manufacturing facilities in the United States. EnerDel has a third manufacturing location in Chungcheongbuk-do, Korea.

About Ener1, Inc.

Ener1 develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid, plug-in hybrid and pure electric vehicles. The publicly traded company (NASDAQ: HEV) is led by an experienced team of engineers and energy system experts at its EnerDel subsidiary located in Indiana. In addition to the automobile market, applications for Ener1 lithium-ion battery technology include the military, grid storage and other growing markets. Ener1 also develops commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary.

Safe Harbor Statement

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.




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