Ener1 to name Gassenheimer chairman

Jan. 19, 2006 — Ener1 Inc. announced that it plans to name Charles Gassenheimer chairman of its board of directors, the appointment to be finalized later this week.

Gassenheimer was most recently with Satellite Asset Management, a hedge fund, where he served as managing director and portfolio manager of the convertible arbitrage division and private investment group.

“I have been involved with Ener1 as an investor for the last two years and continue to believe strongly in the company’s potential. I think that Ener1′s technologies and capabilities, specifically in the areas of lithium batteries for next generation hybrid electric vehicles and in the area of fuel cells products and services, can become commercially viable alternative energy solutions,” Gassenheimer said in a prepared statement.

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