Ener1 Inc.

Marshall S. Cogan is Senior Strategic Advisor for Ener1 Group. Mr. Cogan's stellar career on Wall Street has included creating great wealth for investors while leading several global corporations and financial institutions. His depth of experience is beneficial to all Ener1 Group portfolio companies. Among his accomplishments in the automotive industry - a market being pursued by Ener1 Group investment battery company EnerDel - Mr. Cogan founded Foamex International in 1984 and built its foam operations in the automotive industry to a 65 percent penetration in North America for a period of ten years. Today Foamex continues to be the dominant supplier of urethane foam to the industry. He acquired control of Sheller Globe, at that time, the world's largest manufacturer of steering wheels and related automotive components with revenue of $800 million. He sold control for 15 times his holding company's original investment to United Technology in less than two years in partnership with Shearson-Lehman American Express. In 1992, with the support of Harvard Private Equity, Apollo Management and JP Morgan Private Capital, he founded and was the pioneer in the Consolidation of the auto retail business, United Auto Group (UAG). With an original total investment of $87.5 million, the company went public through JP Morgan in 1996, and ultimately sold in 1999 to Roger Penske. The current market value of UAG is $2 billion. Mr. Cogan is a former partner of Cogan, Berlind, Weill & Levitt, rising to the position of Partner in Charge of Investment Banking and Institutional Research. He guided the firm in an acquisition of Hayden Stone, Inc, where he was named Vice Chairman. This was the predecessor firm to Shearson-Lehman American Express. From 1974 - 1999, Mr. Cogan was Chairman and CEO of a private investment company called Trace International Holdings, Inc. He has served as either Chairman and/or CEO of numerous public and private companies including Knoll International, General Felt Industries, Foamex, United Auto Group and most recently, Greystone Logistics. He serves as a Director of the Friends of Israel Museum, Trustee of the Boston Latin School, the oldest public school in America, and Trustee of New York University Hospital. He also served on the Board of the Museum of Modern Art for 20 years and was Chairman of Architecture and Design for 10 years. He graduated from Harvard College and also received his MBA from Harvard University School of Business.

Mike Zoi is currently a Director of Ener1, Inc. and is President, Director and Co-founder of Ener1 Group. His responsibilities include overseeing Ener1 Group's strategic direction and overall development, including corporate alliances and acquisitions. Previously, Mr. Zoi's areas of specialization include international financing and business development.

Ajit Habbu is Chief Financial Officer of Ener1, Inc. Mr. Habbu previously was Senior Vice President and Chief Financial Officer of Recall Corporation, a global document management business with annual revenue of over $500 million. Mr. Habbu began his career at IBM, where he held key executive positions during his 15-year tenure. He served as CFO of the company's Education Business Unit, a division with annual revenue of $1.5 billion. A native of India, Mr. Habbu holds a B.S. degree in Chemical Engineering from the Indian Institute of Technology, an M.S. degree in Systems and Industrial Engineering from the University of Iowa, and an M.B.A. with a concentration in Financial and International Business from the University of Chicago.

Gerard Herlihy is Chief Financial Officer of Ener1, Inc. He has more than 30 years' worth of financial and management experience in a variety of businesses. Prior to joining the Ener1 management team, Jerry served as President, Chief Operating Officer and Chief Financial Officer of Splinex Technology Inc., a majority owned subsidiary of Ener1 Group. His previous experience includes serving as Chief Financial and Administrative Officer of Williams Controls Inc., as well as President and Chief Operating Officer of CliniCorp, Inc. Before that, he worked at Thomson McKinnon Securities as an investment banker, and began his career as a CPA with Peat Marwick Mitchell & Co in New York City. Gerard received his Masters of Business Administration from Harvard Business School.

David Robakidze oversees Ener1 Group's merchant banking and global advisory services division. Prior to joining Ener1 Group, Mr. Robakidze was Managing Partner of Charon Advisors LLC, a New-York based global advisory firm providing strategic investment and business development advice to multinational corporations (NBC Universal, Coca-Cola) and developing international investment opportunities for major US private equity firms (CVC Ltd, Blackstone, One Equity Partners, GTCR). Mr.Robakidze was also President of RH Capital LLC, a New York investment firm which deployed private US capital in emerging markets arbitrage and investment opportunities. At RH Capital LLC, David originated, evaluated, structured and financed transactions in global energy, media/entertainment and consumer products arena. David Robakidze attended the Moscow State Institute of International Relations (MGIMO), received a bachelors degree in international politics from Georgetown University's School of Foreign Service, holds an MBA from Emory University's R.Goizueta Business School and completed advanced training in global energy management and energy finance at Columbia University's Center for Global Energy, Marine Transportation and Policy.