December 30, 2008: Ener1 Inc., which develops nanotech-based batteries and fuel cells, will switch the listing of its common stock from NYSE Alternext U.S. to the Nasdaq after the close of 2008, according to a company news release. The company’s shares will trade on Nasdaq on January 2, 2009 and will continue to be listed under the symbol HEV.
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 Charles Gassenheimer, Ener1′s chairman and chief executive. “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.”
Ener1 develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid and electric vehicles. 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.