Market Report -- In Play (HEV)

December 1, 2009 7:32 AM ET

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Ener1: EnerDel partners with Mazda, Itochu, and other leaders for pioneering Smart Grid Integration Project EnerDel announces that it will supply the advanced battery systems at the heart of a groundbreaking project linking up all of the essential building blocks needed to integrate the smart grid, electric vehicles and renewable energy technologies. It will be the first time that EVs, stationary grid storage, solar power and rapid charging infrastructure are combined in a real-world operating environment. Located outside Tokyo in Tsukuba City, Japan - a major center for scientific R&D - the project involves more than a dozen major partners from around the globe, including Mazda Motor Corporation and the Japanese industrial trading giant Itochu Corporation, and illustrates the competitive opportunities that exist for EnerDel in the global clean tech marketplace. "This is by far the most comprehensive integration of smart grid and EV technologies ever undertaken, and it represents a tremendous milestone," said Charles Gassenheimer, Chairman and CEO of EnerDel parent company Ener1. "We are very excited to be standing at the crossroads between these rapidly converging industries with high-performance battery systems that shine in both grid and automotive applications."

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