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Russian Investor Ups Stake in EnerDel

Firm tied to Russian billionaire Boris Zingarevich injects $65 million into Indianopolis-based lithium battery maker.

Published: 04-Jun-2010

The owner of Indianapolis battery maker EnerDel has received a $65 million cash injection from its main shareholder, a firm tied to Russian billionaire Boris Zingarevich.

EnerDel’s owner, New York-based Ener1 Inc., this morning announced the agreement had been executed with Ener1 Group.

The agreement calls for a capital commitment through the purchase of $65 million worth of Ener1 Inc. stock and warrants by Ener1 Group.
The deal comes as EnerDel ramps up a new plant in Greenfield to supply lithium-ion automobile batteries and prepares to run a new plant in China.

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