Ener1's Enerdel subsidiary receives Office of Naval Research grant for lithium ion battery development

05-24-2007: Ener1, Inc. announced that its EnerDel subsidiary has been awarded a research grant from the Office of Naval Research (ONR) in the amount of $853,000 to develop a lithium ion battery system for use in asset tracking applications. The primary goal of the project is to develop a battery system that will operate at minus 40 degrees Celsius. The project will be monitored, evaluated and tested by ONR and the Naval Surface Warfare Center (NSWC) Crane. The project is scheduled for completion by the end of March 2008.

In addition, Congress has approved additional defense department appropriations for EnerDel research grants totaling approximately $4.4 million net. Projects under these grants will commence after formal detail project review and approval by the appropriate Department of Defense agencies, which is not expected before the end of the third quarter of calendar 2007.