Ener1 Inc. Reports Significant Strides in Commercializing Its Li-Ion Batteries for Hybrid Vehicles and Fuel Cells

Business Wire, Sept 14, 2006

FORT LAUDERDALE, Fla. -- Management will present Company's progress and next steps at key investment conferences

Ener1 Inc., (OTC/BB: ENEI), an alternative energy company, said today that the Company has made significant strides toward commercializing its technologies to produce lithium-ion batteries for hybrid electric vehicles, as well as fuel cell components. The Company's senior management team will reach out to the investment community at the Equities Magazine Transatlantic Corporate Conference at the American Stock Exchange in New York on Friday, September 15, and later at the Merriman Investor Summit 2006 at the Mark Hopkins Hotel in San Francisco on September 18 - 20.

Ener1's presentation at the Equities Magazine Conference will be web-cast on Equities Magazine website (www.equitiesmagazine.com) and archived on the site for 90 days.

About Ener1, Inc.

Ener1, Inc. (OTC Bulletin Board: ENEI) is an alternative energy technology company. The company's interests include: EnerDel (www.enerdel.com), a lithium battery company in which Delphi Corp. owns a minority share; Enerstruct, a Japanese lithium battery technology company in which Ener1's strategic investor ITOCHU owns the majority share; wholly owned subsidiary EnerFuel, a fuel cell products and testing services company (www.enerfuel.com), and wholly owned subsidiary NanoEner, which develops nanotechnology-based materials and manufacturing processes for batteries and other applications (www.nanoener.com). For more information, visit http://www.ener1.com or call 954-556-4020.

Editor's Note:

EnerDel President, Ulrik Grape and Gerard Herlihy, CFO, will be speaking at the following investment conferences:

1. Equities Magazine Transatlantic Corporate Conference, The American Stock Exchange, New York, September 15.

2. Merriman Investor Summit 2006 at the Mark Hopkins Hotel, San Francisco, September 18 - 20

Both are available for interviews and are able to discuss general developments within the hybrid vehicle market, the effects of an increasing supply of new lithium-ion batteries to the U.S. auto manufacturers and EnerFuel's new series of the fuel cell humidifier systems and its program to produce a fuel cell powered by methanol developed by citrus waste.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995 conveying management expectations as to the future based on plans, estimates and projections at the time the statements are made. The forward-looking statements contained in this press release involve risks and uncertainties, including, but not necessarily limited to EnerDel's ability to succeed as a supplier of batteries to the hybrid electric vehicle and other markets. Ener1's ability to successfully develop and market proposed lithium battery, fuel cell and nanotechnology-based products and services, the degree of competition in the markets for lithium battery, fuel cell and nanotechnology-based products and services. Ener1's history of operating losses, the lack of operating history for the development stage Ener1 businesses, the need for additional capital, the dependency upon key personnel and other risks detailed in this filings from time to time with the Securities and Exchange Commission. These risks and uncertainties could cause actual results or performance to differ materially from any future results or performance expressed or implied in the forward-looking statements included in this release. Ener1 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.