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Ener1, Inc. Appoints PricewaterhouseCoopers LLP as Independent Auditors

NEW YORK, Aug. 19 /PRNewswire-FirstCall/ -- Ener1, Inc. (Nasdaq: HEV), producer of advanced, American-made lithium-ion battery systems, today announced that the Audit Committee of its Board of Directors appointed PricewaterhouseCoopers LLP ("PwC") as its independent registered public accounting firm. PwC replaces Ener1's previous independent auditors, Malone & Bailey, PC.

"We would like to thank Malone & Bailey for their high-quality service over the past four years," said Ener1 Chief Financial Officer Gerard Herlihy. "We also look forward to working with PwC, which has worldwide audit, tax and advisory capabilities that complement our expanding global manufacturing and customer footprint."

About Ener1, Inc.:

Ener1 develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid, plug-in hybrid and pure electric vehicles. The publicly traded company (NASDAQ: HEV) is led by an experienced team of engineers and energy system experts at its EnerDel subsidiary located in Indiana. In addition to the automobile market, applications for Ener1 lithium-ion battery technology include the military, grid storage and other growing markets.

Ener1 also develops commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary.

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.

SOURCE Ener1, Inc.