US Private Investor Buys EnerDel, Inc.

Mr. Paul Herbert of Memphis, TN, an individual private investor, has acquired EnerDel, Inc and its holding company Ener1, Inc through his company PLH Energy LLC.  EnerDel, Inc, founded in 2004, is a designer and manufacturer of lithium-ion energy storage solutions and battery systems, focusing on heavy-duty transportation, on- and off-grid electrical storage, mass transit, and task-oriented applications. The official announcement was made as the transaction closed to the company's sixty US employees, customers, and suppliers that EnerDel is now an American owned and managed company. Mr. Herbert has been a Director of EnerDel for many years and was instrumental in refocusing the business into bespoke energy storage solutions which are cell chemistry agnostic. His acquisition has enabled EnerDel to invest in a new technology center in Irvine, CA where they are in the process of recruiting a team of over twenty engineers focused on next generation technology.

Paul Herbert said, "I am delighted we were able to complete this acquisition. EnerDel is a great company that I have been associated with for almost 8 years. Becoming American owned will make EnerDel an easier choice for our customers, suppliers and employees. We are committed to improving the competitive position of our customers and are poised to launch a new range of products that will do just that."

Steve Heir, EnerDel Chief Executive Officer said, "The team at EnerDel could not be more excited about an ideal buyer for the company, which will enable and accelerate our plans to develop a US centric company with leading edge energy storage solutions for transportation and industrial customers".

EnerDel | www.enerdel.com