HEV Ener1

Indiana Based Alliance To Support the Development of Electric Drive in INDIANAPOLIS, April 1 /PRNewswire-FirstCall/ -- Ener1, Inc. (NASDAQ:HEV), the only lithium-ion battery manufacturer with commercial-scale production facilities in the United States of automotive grade quality, today announced its membership to the newly launched Energy Systems Network (ESN), an Indiana-based consortium bringing together national energy leaders, manufacturing executives, state officials and civic leaders to create new economic opportunities and strengthen energy independence by advancing the electric drive vehicle industry. (Logo: http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGO) "This is the largest and most comprehensive battery and electric vehicle consortium anywhere in the U.S. to date, encompassing all the key components of electric drive, from power plant to batteries to the crucial components of the vehicle," said Ener1 Chairman and CEO Charles Gassenheimer, who will join the ESN Board of Directors. Paul Mitchell, former policy advisor to Governor Mitch Daniels of Indiana, will serve as President and CEO of the ESN. Joe Loughrey, former Vice-Chairman of Cummins, will chair the initiative. In addition to Gassenheimer, the ESN board includes: James E. (Jim) Rogers, Chairman and CEO, Duke Energy; Jeff Owens, President and CEO, Delphi Safety and Electronics; Mike Hudson, President, I-Power Technologies; John Waters, President and CEO, Bright Automotive; France Cordova, President, Purdue University; Thomas Snyder, President, Ivy Tech Community College; and Mark Miles, President and CEO, Central Indiana Corporate Partnership. "Bringing together all these key elements reinforces Indiana's increasingly crucial role as pivotal player in transforming the U.S. automotive industry from gasoline to electric and hybrid power," said Snyder, who is also a Board member of Ener1. "We see a tremendous opportunity to help prepare a skilled workforce for tomorrow's careers in the clean-tech sector." The ESN is already pursuing two significant projects: the Hoosier Heavy Hybrid Partnership, focused on bringing medium- and heavy-duty hybrid vehicles to market; and Project Plug-IN, which will integrate plug-in electric vehicles and 'smart grid' technologies for a group of central Indiana commuters in one of the nation's first large-scale pilot projects. Private and institutional investors have already pledged nearly $1.5 million to support the ESN's activities over the next two years. 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. CONTACT: INVESTOR RELATIONS: MEDIA RELATIONS: Rachel Carroll Jon Coifman VP Corporate Communications Waggener Edstrom Worldwide P: 212 920 3500*105 P: 212 551-4815 E: E: http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGODATASOURCE: Ener1, Inc. CONTACT: INVESTOR RELATIONS: Rachel Carroll, VP Corporate Communications, Ener1, +1-212-920-3500*105, ; or MEDIA RELATIONS: Jon Coifman, Waggener Edstrom Worldwide, +1-212-551-4815,

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