Pursuits
Ener1 Delisting Continues Energy Department Aid Woes
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Ener1 Inc., one of 30 recipients of U.S. Energy Department grants to produce electric-car batteries, is the latest recipient of the agency’s aid to run into financial trouble and draw congressional scrutiny.
Ener1, whose shares were delisted from the Nasdaq Stock Market Oct. 28, was promised $118.5 million in department grants for its EnerDel unit in 2009 from President Barack Obama’s economic stimulus package. Johnson Controls Inc. and A123 Systems Inc. received money for battery production.