Ener1 Inc. Reports Significant Strides in Commercializing Its Li-Ion Batteries for Hybrid Vehicles and Fuel Cells

FORT LAUDERDALE, Fla.--Sept. 14, 2006--

Management will present Company's progress and next steps at key investment conferences

Ener1 Inc., (OTC/BB: ENEI), an alternative energy company, said today that the Company has made significant strides toward commercializing its technologies to produce lithium-ion batteries for hybrid electric vehicles, as well as fuel cell components. The Company's senior management team will reach out to the investment community at the Equities Magazine Transatlantic Corporate Conference at the American Stock Exchange in New York on Friday, September 15, and later at the Merriman Investor Summit 2006 at the Mark Hopkins Hotel in San Francisco on September 18 - 20.

Ener1's presentation at the Equities Magazine Conference will be web-cast on Equities Magazine website (www.equitiesmagazine.com) and archived on the site for 90 days.

About Ener1, Inc.

Ener1, Inc. (OTC Bulletin Board: ENEI) is an alternative energy technology company. The company's interests include: EnerDel (www.enerdel.com), a lithium battery company in which Delphi Corp. owns a minority share; Enerstruct, a Japanese lithium battery technology company in which Ener1's strategic investor ITOCHU owns the majority share; wholly owned subsidiary EnerFuel, a fuel cell products and testing services company (www.enerfuel.com), and wholly owned subsidiary NanoEner, which develops nanotechnology-based materials and manufacturing processes for batteries and other applications (www.nanoener.com). For more information, visit http://www.ener1.com or call 954-556-4020.

Editor's Note:

EnerDel President, Ulrik Grape and Gerard Herlihy, CFO, will be speaking at the following investment conferences:

1. Equities Magazine Transatlantic Corporate Conference, The American Stock Exchange, New York, September 15.

2. Merriman Investor Summit 2006 at the Mark Hopkins Hotel, San Francisco, September 18 - 20

Both are available for interviews and are able to discuss general developments within the hybrid vehicle market, the effects of an increasing supply of new lithium-ion batteries to the U.S. auto manufacturers and EnerFuel's new series of the fuel cell humidifier systems and its program to produce a fuel cell powered by methanol developed by citrus waste.