Ener1, Inc. develops and markets high-tech lithium batteries for industrial use in hybrid cars and battery packs for soldiers. Fuel cells for power generators, aircraft and devices ranging from PDAs and calculators to defibrillators. And Nanotechnology as the building blocks for devices such as battery electrodes and battery and fuel cell membranes.

Ener1's technologies and products have applications for military, industrial and consumer markets, ranging from lightweight battery packs for military field use and high-end consumer applications to fuel cells and high-rate lithium-ion batteries for electric vehicles. Ener1 has filed numerous patents in the U.S. and internationally for its proprietary battery nanotechnology, fuel cell control system and other advanced energy technologies. Ener1 is committed to building shareholder value while developing and bringing new technologies and products into market to meet the increasing demand for energy sources that are more powerful, efficient and reliable.

Ener1's advanced nanotechnologies aim to provide rechargeable batteries that are more powerful and more flexible than existing designs. These batteries will also offer extremely high rates of discharge, giving applications more power, faster. Ener1 develops, tests and manufactures its advanced lithium batteries and other energy devices in its new state-of-the-art facility in Ft. Lauderdale, Florida.

Ener1 plans to develop three versions of fuel cells using its new integrated control system including versions for stationery, automotive and bus applications. Ener1's fuel cell technology features R&D breakthroughs, unique design, integral solutions, extensive development and advanced up-to-date results. Ener1's patent-pending, integrated control systems allow fuel cells to operate efficiently under the most difficult conditions, including peak acceleration and braking conditions required for transportation applications.

In August 2003 ITOCHU Corporation and Ener1 formed a new company in Japan called Enerstruct, Inc. Itochu owns 51% of Enerstruct and Ener1 owns 49%. The name "Enerstruct" reflects the company's goal to redefine "Energy Structure," and provide high energy, high power batteries for various applications. Enerstruct will target the Japanese power sector including stationary fuel cells, hybrid powered automobiles and applications requiring rechargeable batteries across various industries.