HEV Ener1

NEW YORK, Dec. 8 /PRNewswire-FirstCall/ -- Ener1, Inc. (AMEX:HEV), maker of advanced lithium-ion battery solutions to power the next generation of hybrid, plug-in hybrid and electric vehicles, today announced a cooperative partnership among EnerDel, Ener1's lithium-ion battery subsidiary, a heavy duty original equipment manufacturer (OEM) and the Department of Energy, to develop high-energy batteries for hybrid bus and heavy duty vehicle markets. (Logo: http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGO ) The partnership is a congressionally directed program with a total budget of $1.25 million, 80 percent of which will be funded by the National Energy Technology Laboratory at the Department of Energy, and the remaining 20 percent will be funded by EnerDel. The program has been designed to test EnerDel's multiple hybrid electric vehicle (HEV) battery chemistries under real world conditions. Three of EnerDel's advanced chemistries have been selected for testing in extreme environments, ranging from hot and cold climates to operating the hybrid battery in full electric mode for extended periods of time. The significance of this would be to simulate long driving distances where the goal is to eliminate noise and pollution in tunnel and other city driving applications. The heavy duty OEM will identify and deliver drive cycle requirements for each environment. The program will partially complete the collection of testing and drive cycle data necessary to produce battery systems solutions for HEV bus and heavy duty vehicle markets. "Ener1 has some of the world's leading experts in the field of lithium-ion chemistry," said EnerDel CEO Ulrik Grape. "Our ability to work with multiple chemistries makes this an ideal project to test our HEV batteries in different environments. This program is further testimony to the advanced and diverse nature of our technology and battery system solutions, and will help accelerate time to market through the rigorous testing and collection of data." 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. About Ener1, Inc.: Ener1 develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid and electric vehicles. The publicly traded company (AMEX:HEV) is led by an experienced team of engineers and energy system experts at its EnerDel subsidiary located in Indiana. EnerDel has developed proprietary battery systems based on technology originally pioneered with the assistance of the Argonne National Lab. Ener1 is seeking to become the first company to mass-produce a cost- competitive lithium-ion battery for hybrid and electric vehicles. Demand for battery solutions is being driven by a need to reduce dependence on oil as well as growing concern about vehicle emissions. In addition to the automobile market, applications for Ener1 lithium-ion battery technology include medical, military, aerospace, electric utility and other growing markets. Major shareholders of Ener1 include Ener1 Group, Inc., a privately held, global investment and advisory firm, and ITOCHU Corporation, a Japanese trading company and distributor of manufacturing equipment essential to lithium-ion battery production. ITOCHU has annual revenue of approximately $90 billion and offices in more than 80 countries. Ener1 has also received funding from a growing number of institutional investors. In addition to battery technology, Ener1 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. Contacts: INVESTOR RELATIONS MEDIA RELATIONS Rachel Carroll Jon Coifman VP Corporate Communications Waggener Edstrom Worldwide P: 212 920 3500 P: 212 551 4815 E: E: http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGO http://photoarchive.ap.org/ DATASOURCE: Ener1, Inc. CONTACT: Investors, Rachel Carroll, VP Corporate Communications, Ener1, Inc., +1-212-920-3500, ; or Media, Jon Coifman of Waggener Edstrom Worldwide, +1-212-551-4815, , for Ener1, Inc. Web site: http://www.ener1.com/

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