New Investments In RE

May 28, 2003 [] Ener1, Inc. a company in new energy sources, has expanded its business with additional investments from Ener1 Group, Inc., its majority investor. The new investments, totaling approximately US$1.6 million will be used in Ener1’s development, design and production programs for advanced lithium batteries, fuel cells and solar cells. This will bring the total Ener1 Group investment in Ener1’s new energy sources programs to approximately US$6.4 million, since Ener1 Group’s purchase of 80 percent of Ener1, Inc. in January 2002. Applications for Ener1’s energy technologies and products include: lightweight battery packs for military field use, portable medical devices, long lasting batteries for energy-intensive consumer electronics, fuel cells for electric vehicles, and devices for solar power generation.
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