Ener1 announces the successful integration of a lithium-ion battery in a Hybrid Electric Vehicle

A high-powered lithium-ion battery pack can make all the difference for a hybrid electric vehicle, but a successful integration of these two technoligies has been difficult. However, Ener1, Inc., an alternative energy company, recently announced that it has modified a Toyota Prius vehicle to work successfully with its lithium-ion battery — an important milestone for the electric vehicle industry.

"We have made a major stride toward providing the power, safety and affordability that the market has been waiting for," says Ulrik Grape, the company's executive vice president for Global Sales and chief executive officer. "We believe that ours is the safest high-power lithium-ion battery available for hybrid electric vehicles."

The company's automotive battery division, Indianapolis-based EnerDel, will exhibit its unique high-powered lithium-ion battery pack in an operating HEV at the International Electric Vehicle Symposium and Exposition (EVS-23) in Anaheim, Calif. on Dec. 2-4.

By modifying the Toyota Prius, EnerDel's engineers have made approximately twice the energy available for the car's use compared with the existing nickel metal hydride battery is expected to substantially increase performance.

EnerDel publicly unveiled its HEV battery pack prototype on Oct. 9 in an event at its Indianapolis manufacturing facility presided over by Congressman Dan Burton. Third-party testing results on the battery's performance in the Prius are expected to be released during the first quarter of 2008.

EnerDel is scheduled to deliver a prototype electric vehicle (EV) battery to Think Global of Norway in March under a $70 million development and supply agreement. The company also has received a $6.5 million contract from the U.S. Advanced Battery Consortium for development of a plug-in hybrid electric vehicle (PHEV) battery.

On Nov. 20, Ener1 announced completion of a $32 million common equity private placement with a group of six major financial institutions and an alternative energy investment trust.

"Our latest technological achievement, and recent completion of a very successful round of capital raising, position us to win major new hybrid, plug-in hybrid and electric vehicle contracts," says Ener1 Chairman Charles Gassenheimer. "We have the kind of momentum now that makes us a serious force in the industry."

EnerDel will exhibit its lithium-ion battery pack in a Toyota Prius at EVS-23, a gathering where business, policy, industry and academic leaders can explore the market challenges of electrical trapnsportation technologies. EVS-23 will take place Dec. 2-4. EnerDel's R&D manager, Taison Tan, will deliver a technical presentation for registered participants on Tuesday, Dec. 4 at 8 a.m. during Auditorium Session 3D titled "Energy Storage — Batteries."

For more information about Ener1, Inc., visit the company's Web site.