Ener1 to List on the NASDAQ Stock Market
22 Diciembre 2008 - 3:00PM
PR Newswire (US)
NEW YORK, Dec. 22 /PRNewswire-FirstCall/ -- Ener1, Inc. (AMEX:HEV)
announced today that its Board of Directors has approved the
decision to switch the listing of its common stock from the NYSE
Alternext U.S. to the NASDAQ Stock Market, effective as of the
close of trading on December 31, 2008. The company's shares will
commence trading on NASDAQ on January 2, 2009 and will continue to
be listed under the symbol HEV. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGO ) This
decision was reached "after careful consideration of capital market
alternatives and analysis of the electronic market model, which
provides added visibility to our investors," said Charles
Gassenheimer, Chairman and CEO of Ener1, Inc. "We believe that
NASDAQ's electronic multiple market maker structure will provide
our company with enhanced exposure and liquidity, at the same time
providing investors with the best prices, the fastest execution and
the lowest cost per trade." "We are honored that Ener1 has chosen
to list on The NASDAQ Stock Market," said Bruce Aust, Executive
Vice President of NASDAQ OMX. "Ener1 brings innovation to the
automotive industry with clean and efficient energy sources and it
exemplifies the leadership that defines NASDAQ and its listed
companies," he added. "As the world's largest exchange company with
3,900 listed companies, Ener1 will mark the first switch from the
NYSE to NASDAQ in 2009," said Aust. NASDAQ is the largest U.S.
electronic stock market. It lists more companies and, on average,
its systems trade more shares per day than any other U.S. market.
NASDAQ is home to companies that are leaders across all areas of
business including technology, retail, communications, financial
services, transportation, media and biotechnology. NASDAQ is the
primary market for trading NASDAQ-listed stocks. For more
information about NASDAQ, visit the NASDAQ website at
http://www.nasdaq.com/ or the NASDAQ Newsroom
http://www.nasdaq.com/newsroom. 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:HEVAMEX:-AMEX:News) 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.
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, , Media: Jon Coifman, Waggener Edstrom
Worldwide, +1-212-551-4815, Web site: http://www.ener1.com/
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