Ener1 to List on the NASDAQ Stock Market
announced today that its Board of Directors has approved the decision to
switch the listing of its common stock from the NYSE Alternext U.S. to the
NASDAQ Stock Market, effective as of the close of trading on
2008
and will continue to be listed under the symbol HEV.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGO )
This decision was reached “after careful consideration of capital market
alternatives and analysis of the electronic market model, which provides added
visibility to our investors,” said
Ener1, Inc. “We believe that NASDAQ’s electronic multiple market maker
structure will provide our company with enhanced exposure and liquidity, at
the same time providing investors with the best prices, the fastest execution
and the lowest cost per trade.”
“We are honored that Ener1 has chosen to list on The NASDAQ Stock Market,”
said
innovation to the automotive industry with clean and efficient energy sources
and it exemplifies the leadership that defines NASDAQ and its listed
companies,” he added.
“As the world’s largest exchange company with 3,900 listed companies,
Ener1 will mark the first switch from the NYSE to NASDAQ in 2009,” said Aust.
NASDAQ is the largest U.S. electronic stock market. It lists more
companies and, on average, its systems trade more shares per day than any
other U.S. market. NASDAQ is home to companies that are leaders across all
areas of business including technology, retail, communications, financial
services, transportation, media and biotechnology. NASDAQ is the primary
market for trading NASDAQ-listed stocks. For more information about NASDAQ,
visit the NASDAQ website at http://www.nasdaq.com or the NASDAQ Newsroom
http://www.nasdaq.com/newsroom.
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.
About Ener1, Inc.:
Ener1 develops and manufactures compact, high performance lithium-ion
batteries to power the next generation of hybrid and electric vehicles. The
publicly traded company (Amex: HEV – News) is led by an experienced team of
engineers and energy system experts at its EnerDel subsidiary located in
originally pioneered with the assistance of the Argonne National Lab.
Ener1 is seeking to become the first company to mass-produce a
cost-competitive lithium-ion battery for hybrid and electric vehicles. Demand
for battery solutions is being driven by a need to reduce dependence on oil as
well as growing concern about vehicle emissions. In addition to the automobile
market, applications for Ener1 lithium-ion battery technology include medical,
military, aerospace, electric utility and other growing markets.
Major shareholders of Ener1 include Ener1 Group, Inc., a privately held,
global investment and advisory firm, and ITOCHU Corporation, a Japanese
trading company and distributor of manufacturing equipment essential to
lithium-ion battery production. ITOCHU has annual revenue of approximately
billion
from a growing number of institutional investors.
In addition to battery technology, Ener1 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.
INVESTOR RELATIONS MEDIA RELATIONS
Rachel Carroll Jon Coifman
VP Corporate Communications Waggener Edstrom Worldwide
P: 212 920 3500 P: 212 551 4815
E: rcarroll@ener1.com E: jcoifman@waggeneredstrom.com
SOURCE Ener1, Inc.