First-Quarter Revenue of $23 Million and Gross Profit Margin of 24%

Ener1, Inc. (NASDAQ:HEV) reports financial results for the first fiscal quarter of 2011 ending March 31, 2011.

The press release is quoted as saying:

Ener1, Inc. is a publicly traded (Nasdaq: HEV) energy technology company that develops compact, lithium-ion-powered battery solutions for the transportation, utility grid storage and industrial markets. Headquartered in New York City, the company has more than 700 employees with manufacturing locations in the United States and Korea. Ener1 also develops commercial fuel cell products, nanotechnology-based materials and manufacturing processes.

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