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Computer Industry Executive Appointed as President of Ener1, Inc. and CEO of Ener1’s Advanced Battery Manufacturing Subsidiary EnerDel

Date: 03/28/2011

Company: ENER1

Computer Industry Executive Appointed as President of Ener1, Inc. and CEO of Ener1’s Advanced Battery Manufacturing Subsidiary EnerDel

NEW YORK (March 28, 2011) – Ener1, Inc. (NASDAQ: HEV) has appointed Christopher L. Cowger, formerly a corporate vice president and general manager for the semiconductor giant Advanced Micro Devices (AMD), as president. He will also hold the role of chief executive officer of Ener1’s lithium-ion battery systems subsidiary EnerDel, Inc., which he will run from the subsidiary’s main office in Indianapolis.

Cowger previously held executive management and P&L responsibility for AMD’s multi-billion-dollar regional business covering North, Central and South America since 2009. Before AMD he spent ten years at the multinational information technology leader Dell, Inc., last serving as vice president and general manager of its global consumer software and peripherals division. Cowger, 40, started his career in various engineering capacities at General Motors Corporation after receiving a degree in electrical engineering from Duke University. He also earned graduate degrees in electrical engineering and business administration from the Massachusetts Institute of Technology.

“In Chris we have an exceptionally talented and innovative business leader with the sales, marketing and operations capability to help take our company to the next level,” said Ener1 Chairman and CEO Charles Gassenheimer. “While rising quickly through three of the most important manufacturers of our times, he has demonstrated an ability to imbue an organization with a razor-sharp customer focus perfectly suited for Ener1’s commitment to delivering the precise technology solution for every client in each of our three business verticals.”

New York-headquartered Ener1 is a leading global maker of lithium-ion energy storage systems for transportation, electrical grid and industrial applications. EnerDel operates three production facilities in the State of Indiana, which forms part of Ener1’s global corporate footprint that includes Korea, Japan, China and Russia. In addition to targeting the growing global market for passenger electric and hybrid vehicles, Ener1 is pioneering the development of medium- and heavy-duty systems for electrification of trucks and buses, as well as lithium-ion-based grid storage, particularly in emerging markets. The positions of president at Ener1 and CEO at EnerDel, which Cowger will hold, were previously unfilled.

“After helping propel matured global leaders in computers and microprocessors to higher levels of profitable growth, the chance to lead a company with an entirely new technology that can make a major contribution to society and that is clearly on the cusp of breakthrough success is exhilarating for me,” said Cowger. “An opportunity like this rarely rings twice in a lifetime and I am honored to take it on with the energy and commitment its uniqueness merits.”

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About Ener1, Inc.

Ener1, Inc. is a publicly traded (NASDAQ:HEV) energy technology company that develops compact, lithium-ion-powered battery solutions for the transportation, utility grid storage and industrial markets. Headquartered in New York City, the company has more than 700 employees with manufacturing locations in the United States and Korea. Ener1 also develops commercial fuel cell products, nanotechnology-based materials and manufacturing processes.

Safe Harbor Statement

Certain statements made in this press release constitute forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

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