Ener1 Inc. (HEV)

HEV the Major Player in alternative energy of the near-term future with the emerging new generation of plug-in hybrid electric vehicles.

Each EnerDel battery system will store enough energy to power roughly 400 average American homes simultaneously for up to an hour at a time utilizing the same core chemistry as the EnerDel batteries designed for the emerging new generation of plug-in hybrid electric vehicles. The new systems will be used in concert with a variety of both hardware and software solutions to improve system reliability during peak demand loads.

The PGE project will be built in Salem, OR, where it will serve both residential and commercial customers. Equipment will be installed at 15 sites over the next two years, after which developers will spend two to three years testing system performance under wide variety of geographic and meteorological conditions. It is one of 16 announced by DOE, which is providing half the $178 million funding through the American Recovery and Reinvestment Act, the federal stimulus package enacted in February. The balance will come from utilities and other participants. Overall, the Northwest regional program will serve up to 60,000 utility customers in Idaho, Montana, Oregon, Washington and Wyoming.

EnerDel is part of Ener1, Inc. (Nasdaq: HEV - News). Based in Indianapolis, IN, the company has one of the most advanced lithium-ion battery manufacturing facilities in the world, and the only one of its kind in the United States.

About Ener1, Inc.:

Ener1 develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid, plug-in hybrid and pure electric vehicles. The publicly traded company (NASDAQ: HEV - News) is led by an experienced team of engineers and energy system experts at its EnerDel subsidiary located in Indiana. In addition to the automobile market, applications for Ener1 lithium-ion battery technology include the military, grid storage and other growing markets. Ener1 also 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.

Energy should outperform the market over the next couple months. I'm going with Deutsche Bank on this one.