Ener1 Subsidiary Receives Funding for Lithium-Ion Production R&D

30 November 2005

Enerstruct, a subsidiary of Ener1 jointly held with ITOCHU Corporation, has received funding from SBIC (Tokyo Small and Medium Business Investment & Consultation Co.), Japan’s oldest venture capital firm, to further the ongoing research and development of lithium battery production and battery production processes.

EnerDel, Ener1’s lithium battery subsidiary in which Delphi owns 19.5%, is working closely with Enerstruct to develop a new type of high-rate lithium battery for hybrid electric vehicles.

EnerDel’s proprietary technologies include high-rate battery electrodes and an automated mass production process developed with the help of Enerstruct.

EnerDel plans to manufacture these batteries in the U.S. using an automated production process, and expects to supply these batteries to automotive companies that will produce HEVs (Hybrid Electric Vehicles) in North America.

Ener1’s subsidiaries operate in three main sectors: Lithium Batteries, Fuel Cells and Nanotechnology Materials. Ener1’s interests include 80.5% of EnerDel, 100% of EnerFuel, a fuel cell testing and component company, 100% of NanoEner, which develops nanotechnology-based materials and manufacturing processes for batteries and other applications, and 49% of Enerstruct (ITOCHU holds 51%).