ENER Accretion Acquisition Corporation

ROCHESTER HILLS, Mich., Aug. 16 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) announced today that its subsidiary, Ovonic Battery Company, Inc. (Ovonic Battery), has entered into a patent license agreement in connection with its proprietary nickel metal hydride (NiMH) battery technology with TMK Power Industries Ltd. (TMK) of the People's Republic of China. Under the consumer battery license grant, TMK has a royalty-bearing, nonexclusive right to make, use and sell NiMH batteries for consumer applications and electric bicycles which are manufactured in China. All other propulsion applications are excluded. In a statement, Stanford R. Ovshinsky, ECD Ovonics President and Chief Scientist and Technologist and CEO of Ovonic Battery, said, "We are very pleased by the sustained growth of our Ovonic consumer battery division. NiMH manufacturers worldwide recognize the added advantage of access to advanced Ovonic materials and technology which allow world-class energy, power, life and other performance attributes needed for this highly competitive market. We are very pleased to welcome TMK as our latest licensee. Our licensing strategy recognizes the growing importance of NiMH suppliers within the PRC. TMK's electric bicycle market presence is of great value to us in our efforts to gain ever-growing alliances within China." 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 Ovonics is found on http://www.ovonic.com/. About TMK TMK Power Industries Ltd. was formed in 1999 and is located in Shenzhen, China. TMK produces a broad range of NiMH products to address diverse markets such as retail consumer, power tools, radio control cars, emergency lighting and electric bicycles. TMK has multiple sales outlets worldwide. For more information, TMK's website is http://www.tmk-battery.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. The risk factors identified in ECD Ovonics filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and the company's most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release. DATASOURCE: Energy Conversion Devices, Inc. CONTACT: Ghazaleh Koefod, Investor Relations or Dick Thompson, Media Relations, both of Energy Conversion Devices, Inc., +1-248-293-0440 Web site: http://www.ovonic.com/ http://www.tmk-battery.com/

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