Gerard Herlihy Appointed Chief Financial Officer of Ener1, Inc
January 30 2006 - 7:21PM
PR Newswire (US)
FT. LAUDERDALE, Fla., Jan. 30 /PRNewswire-FirstCall/ -- Ener1, Inc
(OTC:ENEI) announced today that veteran financial and operating
executive Gerard (Jerry) Herlihy has been appointed Chief Financial
Officer of Ener1 Inc, effective immediately. "Jerry Herlihy has
been working with Ener1 Group, the majority holder of Ener1, Inc,
since mid-2004, and has done an excellent job of taking Splinex
Technology from pure research to commercialization. At Splinex he
has served as President and COO, as well as CFO, and he will work
well with top management at Ener1 due to his financial acumen
combined with his operating experience. Moreover, he has truck and
automotive manufacturing experience which will greatly benefit our
EnerDel group. We are very pleased that Jerry has joined us," said
Charles Gassenheimer, Chairman of Ener1. Mr. Herlihy joins Ener1
from Splinex Technology Inc (OTC:SPLX) (BULLETIN BOARD: SPLX) ,
also a majority owned subsidiary of Ener1 Group, the parent of
Ener1, Inc. Mr. Herlihy brought Splinex public, and handled all
administrative, operating and financial aspects of the company
including SEC reporting and Sarbanes Oxley compliance. Mr.
Herlihy's experience includes directing a number of turnarounds,
including Chief Financial and Administrative Officer of Williams
Controls Inc, and president and COO of CliniCorp, Inc. Prior to
directing turnarounds, Mr. Herlihy was an investment banker at
Thomson McKinnon Securities, and began his career as a CPA with
Peat Marwick Mitchell & Co in New York City. Mr. Herlihy
received his MBA from the Harvard Business School. About Ener1, Inc
Ener1, Inc (OTC:ENEI) is an alternative energy technology company.
The company's interests include: 80.5% of EnerDel
(http://www.enerdel.com/), a lithium battery company in which
Delphi Corp. owns 19.5%; 49% of Enerstruct, a Japanese lithium
battery technology company in which Ener1's strategic investor
ITOCHU owns 51%; wholly owned subsidiary EnerFuel, a fuel cell
testing and component company (http://www.enerfuel.com/); and
wholly owned subsidiary NanoEner, which develops
nanotechnology-based materials and manufacturing processes for
batteries and other applications (http://www.nanoener.com/). For
more information, visit http://www.ener1.com/. Safe Harbor
Statement This release contains forward-looking statements within
the meaning of the Federal Private Securities Litigation Reform Act
of 1995 conveying management's expectations as to the future based
on plans, estimates and projections at the time the statements are
made. The forward-looking statements contained in this press
release involve risks and uncertainties, including, but not
necessarily limited to: EnerDel's ability to succeed as a supplier
of batteries to the hybrid electric vehicle and other markets;
Ener1's plans to reduce costs and gain a competitive advantage by
consolidating manufacturing operations and implementing automated
production processes; charges Ener1 will incur in connection with
consolidating manufacturing operations; the degree of competition
in the markets for lithium battery, fuel cell and
nanotechnology-based products and services, Ener1's history of
operating losses, the lack of operating history for the development
stage Ener1 businesses, the need for additional capital, the
dependency upon key personnel and other risks detailed in Ener1's
annual report on Form 10-KSB for the year ended December 31, 2004,
as well as in its other filings from time to time with the
Securities and Exchange Commission. These risks and uncertainties
could cause actual results or performance to differ materially from
any future results or performance expressed or implied in the
forward-looking statements included in this release. Ener1
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Contact: Joe Allen (investors) Alys
Daly Allen & Caron Inc Ener1, Inc 212 691 8087 954 202 4442 or
305-815-0312 First Call Analyst: FCMN Contact:
m.reilly@allencaron.com DATASOURCE: Ener1, Inc CONTACT: Investors,
Joe Allen of Allen & Caron Inc, +1-212-691-8087, , for Ener1,
Inc; or Alys Daly of Ener1, Inc, +1-954-202-4442, or
+1-305-815-0312, Web site: http://www.enerdel.com/ Web site:
http://www.enerfuel.com/ Web site: http://www.nanoener.com/ Web
site: http://www.ener1.com/
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