ENER Accretion Acquisition Corporation

AKRON, Ohio, Aug. 15 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) announced today that it is considering plans to open an Ovonic solid hydrogen testing facility in Akron, Ohio. The testing laboratory will have the capability to test and certify Ovonic metal hydride storage containers for use with portable fuel cell generators, on-board storage of hydrogen for internal combustion engine and fuel cell vehicles, and for solid hydrogen dispensing stations to refill canisters and vehicles, and other stationary uses. The laboratory is expected to employ up to 25 people in the first three years of operation. Mr. Stanford R. Ovshinsky, President and CTO of ECD Ovonics, and a native of Akron, said, "This cooperation and enthusiasm of the City to support the Ovonic solid hydrogen test facility has been outstanding. We appreciate the speed with which this important testing project is moving through the various approval processes and the high interest in Ovonic technologies. Particularly exciting is that the activity may lead to Akron becoming the center of the emerging hydrogen economy." It is anticipated that the testing laboratory may be followed by canister and vessel manufacturing operations. Since anything that burns and is used for fuel can be replaced by hydrogen, the need for hydrogen storage vessels is expected to grow as applications for hydrogen fuel increases. The Ovonic storage canister will hold almost twice the amount of hydrogen as compared to a similar size vessel holding liquid hydrogen and more than three times the amount of hydrogen as compared to a similar size vessel holding high pressure gaseous hydrogen. Ovonic hydrogen storage canisters operate at low pressures and feature fast refilling capability. Hydrogen is an abundant fuel source that can reduce our country's dependence on imported oil. It is clean burning and does not emit global warming gases such as carbon dioxide. When used, the only by-product is clean water. A good existing industrial site is available in Akron with room for expansion and adequate electric power. The proximity of the University of Akron and skilled workers are also major factors. Future considerations include Akron's ample water supply, originally sized to support the tire- making industry needs, which is potentially a source of hydrogen using ECD's nonpolluting United Solar Ovonic photovoltaic products to generate electric energy for extraction of hydrogen. About ECD Ovonics: ECD Ovonics is the leader in the synthesis of new materials and the development of advanced production technology and innovative products. It has invented, pioneered and developed its proprietary, enabling technologies in the fields of energy and information leading to new products and production processes based on amorphous, disordered and related materials. ECD Ovonics' proprietary advanced information technologies include Ovonic phase-change electrical memory, Ovonic phase-change optical memory and the Ovonic Threshold Switch. The Company's portfolio of alternative energy solutions includes Ovonic thin-film continuous-web amorphous solar cells, modules, panels and systems for generating solar electric power; Ovonic NiMH batteries; Ovonic hydride storage materials capable of storing hydrogen in the solid state for use as a feedstock for fuel cells or internal combustion engines or as an enhancement or replacement for any type of hydrocarbon fuel; and Ovonic fuel cell technology. ECD Ovonics designs and builds manufacturing machinery that incorporates its proprietary production processes, maintains ongoing research and development programs to continually improve its products and develops new applications for its technologies. ECD Ovonics holds the basic patents in its fields. More information on ECD Ovonics is available on http://www.ovonic.com/ . This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which ECD Ovonics, as of the date of this release, believes to be reasonable and appropriate. ECD Ovonics cautions, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based. DATASOURCE: Energy Conversion Devices, Inc. CONTACT: Ghazaleh Koefod, Investor Relations, or Dick Thompson, Media Relations, of Energy Conversion Devices, Inc., +1-248-293-0440; or Bruce MacDonald of Liebler!MacDonald, +1-248-233-8062 Web site: http://www.ovonic.com/

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