Entrepreneur Mike Zoi and Scientist Peter Novak founded Ener1(NASDAQ:HEV) in 2001 to develop energy storage technology company that develops compact, lithium-ion-powered battery solutions for the transportation, utility grid and industrial electronics markets. Headquartered in New York City, the company has manufacturing locations in the United States and Korea. Ener1 also develops commercial fuel cell

Fuel cell

A fuel cell is a device that converts the chemical energy from a fuel into electricity through a chemical reaction with oxygen or another oxidizing agent. Hydrogen is the most common fuel, but hydrocarbons such as natural gas and alcohols like methanol are sometimes used...

 products and nanotechnology

Nanotechnology

Nanotechnology is the study of manipulating matter on an atomic and molecular scale. Generally, nanotechnology deals with developing materials, devices, or other structures possessing at least one dimension sized from 1 to 100 nanometres...

-based materials.