EnerFuel, Inc., a wholly owned subsidiary of Ener1, Inc. (NASDAQ: HEV), is pioneering fully integrated electrochemical hybrid power systems. The company is developing high temperature proton exchange membrane fuel cell systems in hybrid arrangement with lithium- ion batteries. The integration of both technologies has the potential to enhance the overall performance of each of its components while reducing the capital cost of the resulting power device. Ultimately, EnerFuel’s hybrid technology can be used for extended range electric vehicles (EREV) or to provide back-up power and point of use energy storage for homes and businesses. The company’s goal is to drastically increase the overall efficiency of global energy generation and usage, leading to decreased risk of energy interruptions, and price fluctuations, with products that enhance environmental and community stewardship.