Ener1 Secures $30M Lifeline

Moresco, Justin
December 2008
Red Herring;12/16/2008, p2
Trade Publication
The article reports on the announcement by U.S. battery maker Ener1 that it secured a $30 million line of credit, which is very much needed as the company's key customer halted production of its electric automobiles. According to Ener1, maker of advanced batteries for hybrid and electric vehicles, the credit line would fund the company through the end of 2009. The company is also concerned over its critical supply contract with Oslo, Norway, electric automobile maker Think Global, which has stopped production of its electric automobiles.


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