ENER Accretion Acquisition Corporation

ROCHESTER HILLS, Mich., May 24 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) today announced the death of Prof. Umberto Colombo, a former director of the company. Prof. Colombo died May 13, 2006, in Rome, Italy, at the age of 78. He joined the Board of Directors of ECD Ovonics in July 1995 and, after years of distinguished service to ECD Ovonics and its shareholders, he retired in November 2004. Prof. Colombo was a world-renowned scientist and engineer who for many years played a pivotal role in the science and technology policies of Italy, Europe, Asia and the United Nations. During his long and illustrious career, he served in many critical positions, including president of ENI (one of the most important integrated energy companies in the world operating in the oil and gas industry, power generation and oilfield services, construction and engineering); chairman of ENEA (Italian National Agency for New Technology, Energy and the Environment); president of the European Science Foundation; and minister of Universities and Scientific and Technological Research in the Italian Government. Prof. Colombo was active as a consultant in international science and technology policy institutions related to economic growth. Stanford R. Ovshinsky, ECD Ovonics President and Chief Scientist and Technologist, said, "Prof. Colombo's death is a great loss to the world of science and technology. We knew him since the 1960s, long before he joined ECD as a director. He was a remarkable scientist. But, more importantly, he was an unfaltering humanitarian and a true friend. We will miss him very much and extend our deepest sympathy to his family." 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. The Company's portfolio of alternative energy solutions includes Ovonic thin-film 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' proprietary advanced information technologies include Ovonic phase-change electrical memory, Ovonic phase-change optical memory and the Ovonic Threshold Switch. 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 is available at http://www.ovonic.com/ . DATASOURCE: Energy Conversion Devices, Inc. CONTACT: Ghazaleh Koefod of Energy Conversion Devices, Inc., +1-248-293-0440 Web site: http://www.ovonic.com/

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