After its virtual collapse last month, there are now renewed signs of life at Norwegian EV maker Th!nk. Ener1 Group Inc., which owns 57 percent of U.S. battery maker Ener1, is one of the investors in Th!nk and Ener1 had been set to supply Th!nk with lithium ion battery packs for its City car, as well as future products. According to Ener1 CEO Charles Gassenheimer, the company is looking at significantly upping its ownership stake in Th!nk. Half of the $5.7 million cash infusion that Th!nk receiv
EnerDel is the battery division of Ener1, an energy storage solutions company. EnerDel's batteries can currently be found in a plug-in Prius and a Th!nk City. The parent company announced today that it has raised $29.7m worth of equity capital through something called a Warrant Exercise. The influx of funds means that Ener1's cash position on its balance sheet is now around $42.5m, the company said in a statement. While the statement doesn't specifically mention any of Ener1's automotive battery
Want one of the all-electric Th!nk City cars powered by a lithium-ion battery? You're one step closer today than yesterday thanks to an announcement by EnerDel, the battery division of Ener1, that it has delivered the first mechanical prototype of the lithium-ion battery pack to Th!nk for form and fit evaluation. Even though Th!nk Citys are popping up in Paris and London, the pack is being tested in a City that is at EnerDel's Indianapolis facility in a car that was delivered last week.
Ener1Del has signed a deal with Think Global, the makers of the Th!nk city car, to become the supplier of choice for lithium-ion batteries. Under a development agreement between Ener1 and Think, Ener1 will deliver production prototypes to Think in March 2008 and pre-production parts (valued at $1.4 M) the following July. Once those milestones are reached, Ener1 expects $70 M in sales in 2008-2010 and, depending on growth from Think, Ener1 expects sales from the entire contract to be worth $200 M