Exhibit 31.2

CERTIFICATION

I, James Calarco, certify
that:

| | 1. | I
have reviewed this quarterly report on Form 10-QSB of Ener1, Inc.;
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| | 2. | Based
on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the
period covered by this report;
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| | 3. | Based
on my knowledge, the financial statements, and other financial information included in
this report, fairly present in all material respects the financial condition, results of
operations and cash flows of the small business issuer as of, and for, the periods
presented in this report;
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| | 4. | The
small business issuers other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in Exchange
Act Rules 13a-15(e) and 15d-15(e)) for the small business issuer and have:
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| | a) | Designed
such disclosure controls and procedures, or caused such disclosure           controls and
procedures to be designed under our supervision, to ensure that           material
information relating to the small business issuer, including its           consolidated
subsidiaries, is made known to us by others within those entities,           particularly
during the period in which this report is being prepared;
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| | b) | Evaluated
the effectiveness of the small business issuers disclosure           controls and
procedures and presented in this report our conclusions about the           effectiveness
of the disclosure controls and procedures, as of the end of the           period covered
by this report based on such evaluation; and
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| | c) | Disclosed
in this report any change in the small business issuers internal           control
over financial reporting that occurred during the small business           issuers
most recent fiscal quarter (the small business issuers           fourth fiscal
quarter in the case of an annual report) that has materially           affected, or is
reasonably likely to materially affect, the small business           issuers
internal control over financial reporting; and
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| | 5. | The
small business issuers other certifying officer and I have disclosed, based on our
most recent evaluation of internal control over financial reporting, to the small
business issuers auditors and the audit committee of small business issuers
board of directors (or persons performing the equivalent functions):
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| | a) | All
significant deficiencies and material weaknesses in the design or operation           of
internal control over financial reporting which are reasonably likely to
          adversely affect the small business issuers ability to record, process,
          summarize and report financial information; and
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| | b) | Any
fraud, whether or not material, that involves management or other employees           who
have a significant role in the small business issuers internal control
          over financial reporting.
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| |  | Date: May 16, 2005BY: /S/ James Calarco
James CalarcoInterim Chief Financial Officer, Controller (Duly Authorized Principal Financial and
Accounting Officer and Duly Authorized Officer)
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