Ener1 (HEV) In Partnership With Department of Energy

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10:42:11 am on December 8, 2008

Ener1 (HEV) is announcing an important relationship with a heavy duty OEM manufacturer and the Department of Energy to develop lithium ion batteries for hybrid buses and other heavy duty vehicles.  It’s not a big deal in terms of monetary compensation at just 1.25 million, but it’s a clear vote of confidence in Ener1 (HEV) which will test their battery technologies under a variety of real world conditions.

“Ener1 has some of the world’s leading experts in the field of lithium-ion chemistry,” said EnerDel CEO Ulrik Grape. “Our ability to work with multiple chemistries makes this an ideal project to test our HEV batteries in different environments. This program is further testimony to the advanced and diverse nature of our technology and battery system solutions, and will help accelerate time to market through the rigorous testing and collection of data.”

HEV is trading flat and well off the morning highs, but remains in good position to potentially breakout to new all time highs soon.

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