Technology Industry

Ener1 to Acquire Giner Electrochemical's Fuel Cell Business

Fuel Cells Today, Jan 13, 2005

Ener1, Inc. recently announced it has signed letters of intent to acquire Giner Electrochemical Systems, LLC (GES), a privately held company located in Newton, MA that specializes in the development of fuel cell technologies and products.

According to Ener1, GES is currently owned by Giner, Inc. and General Motors Corporation (GM). Ener1 noted that GES will maintain its existing GM multi-year contracts and its broad research and development relationship with GM going forward.

"GES has capabilities and technologies in [proton exchange membrane (PEM)] fuel cells that will help us exploit many potential market applications, e.g., local and backup power, portable power, personal mobility and scooters," said Ener1 Energy Group president Pankaj Dhingra.

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Contact: Alys Daly, Ener1, phone 954-556-4020 ext 319, e-mail adaly@ener1.com.

(EIN STAFF: 1/11)

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