Ener1 Raises 25M In Capital For Li Ion Energy Storage

Ener1, Inc. (Nasdaq: HEV), a manufacturer of lithium-ion energy storage systems for transportation, neighborliness grid and business electronics applications, announced the calm of 25 million of exclusive unsecured data, composed with shares of pervasive stock and warrants. Not working with keep up from an income exhibit from the U.S. Wing of Influence below the American Enlargement and Reinvestment Act, Ener1 wish use the income from the calm chief to maintain building out production capacity in the U.S. and for effective metropolitan area to assist income projects with regulars in the grid energy storage and transportation sectors. In growth to its escalating associations with car makers Like and Volvo, the company says it has completed great open out with U.S. and sophisticated regulars in the effective transportation market, a key company canal for 2011 and add-on."Ener1 is profitably scaling its global manufacturing capabilities to stir the request for our a moment ago announced customer programs, by way of a 40-million neighborliness supply appointment with the Russian Federal Grid Institution," imaginary Chairman and CEO Charles Gassenheimer. The preparatory stride of the project in Russia is as it should be for conclude in Q2 this blind date. It focuses on grid unification of large-scale unforeseen event power back-up systems in money-wise critical regions, specifically the Black Sea port city of Sochi, a number of as the officeholder consign of the XXII Chilly Olympic Theatrical production in 2014. Installations are soul firm certain for remote grid substations in the Western Caucasus Mountains ski choice Krasnaya Polyana (not permitted). The meaning is to maximize reliability of the power supply for Olympic events. The supply categorize was signed with royal FGC's absolutely owned auxiliary Significant GTES, Russia's uppermost manufacturer of phone electric power stations. In growth to the labor and manufacture of the exact Sochi energy storage units, the categorize includes two in-depth mutual studies involving Ener1 and FGC engineers covering: System-wide examine for operation of lithium-ion storage for applications by way of strengthening the grid in remote regions, stage load-shaving and well ahead unification of underdone renewable power sources such as wind; Facts of localization participating in Russia of development and manufacture of lithium-ion freestyle cells and other components for energy storage systems. Headquartered in New York Community, Ener1 has supervisor than 700 workers with manufacturing locations in the Combined States and Korea. Ener1 too develops commercial fuel cell products, nanotechnology-based food and manufacturing processes. In encouragement with explanation partner and electric vehicle manufacturer Like, Ener1 too manufactures electric vehicle expire guide products.