Ener1 Inc.

Charles Gassenheimer is Chairman and Chief Executive Officer of Ener1, Inc. He is also Chief Executive Officer of Ener1 Group, the largest shareholder of Ener1, Inc. Over his career, Charles has forged a reputation as a dynamic businessman, with a proven track record in structuring and managing complex capital markets transactions, as well as in transforming failing companies into highly competitive businesses. Before joining Ener1, Charles was Managing Director and Portfolio Manager of both the Convertible Arbitrage Division and Private Investment Group of Satellite Asset Management, a hedge fund with approximately $6 billion in assets. Prior to that, he was Portfolio Manager and head of the distressed securities investment group of Tribeca Investments, the hedge fund division of Citigroup Global Investments. Charles has also served as a Vice President at Credit Suisse First Boston. Charles began his career with Coopers & Lybrand in the field of operational and financial turn-around management services. He graduated with a degree in Economics from the University of Pennsylvania.

Ajit Habbu has been our Chief Financial Officer since October 2006. Mr. Habbu is also Chief Financial Officer of Ener1 Group. Prior to joining Ener1, Mr. Habbu was Executive Vice President and Chief Financial Officer of Vixia, LLC, a provider of process solutions and support services for healthcare organizations, using radio frequency identification and ultrasound technologies. From 1999 to 2005, Mr. Habbu was with Recall Corporation, a global document management business with operations in 22 countries, where he served as Senior Vice President and Chief Financial Officer. From 1983 to 1999, Mr. Habbu was with IBM Corporation, where he served in a number of executive positions, including Chief Financial Officer of its Education Business Unit. 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.

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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.

Dr. Peter Novak is the President, Chief Technology Officer and co-founder of Ener1, Inc. Peter graduated from the Ural Polytechnic Institute, Physics and Technical Department, with a specialization in experimental nuclear physics. Subsequently he obtained his Ph.D. in physical chemistry from the Institute of Solid State Chemistry's Ural Branch Academy of Science in Russia. As a world-renowned expert in lithium-ion battery technology, he has written many scientific articles and patent applications and brings broad interdisciplinary experience in transforming advanced research projects into business solutions.