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Ener1, Inc.
Ener1 Gains 100% Ownership in EnerDel - Move to Accelerate Potential Partnership Discussions with Auto OEMs and Tier One Automotive Supply Companies
August 30th, 2008
Ener1, Inc. (AMEX:HEV), maker of advanced battery technology designed to power the next generation of hybrid and electric vehicles, strengthened its advantage in the lithium-ion battery race, by acquiring exclusive ownership of EnerDel, including essential manufacturing and intellectual property assets from former joint venture partner Delphi Automotive Systems LLC. The agreement was approved by the Honorable Judge Drain, who is overseeing Delphi's efforts to emerge from bankruptcy. "The agreement gives Ener1 sole ownership of crucial assets at an important time in this rapidly growing industry," said Ener1 Chairman, Charles Gassenheimer. "It gives us more freedom and...
Source: Law & Health Weekly (2008-08-30)
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