Giner Electrochemical Systems LLC (GES, Newton, MA), a subsidiary of Giner Inc. and General Motors Corp. that specializes in the development of fuel cell technologies and products, has entered into an agreement to be purchased by Ener1 Inc. (Fort Lauderdale, FL).
GES will maintain its existing GM multi-year contracts worth several million dollars and its broad research and development relationship with GM going forward. No other financial details of the agreement were disclosed. The GES senior management team, including Chairman and Founder Jose Giner and CEO and Vice Chairman Anthony LaConti, will remain in place through consulting and employment agreements extending over the next several years. The company has more than 40 employees.
