Ener1 Forms Nanotechnology Subsidiary

April 14, 2004 by Jeff Shepard

Ener1 Inc. (Fort Lauderdale, FL), a developer of lithium batteries and fuel cells, announced it has formed a new wholly owned subsidiary, NanoEner Inc., which will develop new markets and applications for Ener1's proprietary technologies to manufacture nanomaterials. Dr. Yevgen Kalynushkin, an engineer, professor of material science and author of more than a dozen patents and 300 published papers, serves as Chief Technology Officer of the new company.

Ener1 currently uses its nanomaterials manufacturing technologies in the development of nanomaterials for lithium batteries and other high-energy storage devices. Ener1's nanostructured electrodes enable batteries to have high discharge rates and extended cycle life. Ener1 is hoping that the formation of NanoEner will help Ener1 capitalize on the emerging nanotechnology market, estimated to reach $1 trillion worldwide by 2015.