ECD Ovonics' Battery Subsidiary Grants Patent License to G4 Synergetics
27 4월 2007 - 12:05AM
PR Newswire (US)
ROCHESTER HILLS, Mich., April 26 /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 with G4
Synergetics Incorporated (G4). G4 was granted a royalty-bearing,
nonexclusive right to make, use and sell NiMH batteries using
Ovonic Battery's proprietary technology for consumer applications.
Additionally, G4 has the option to expand its license to include
the right to manufacture NiMH batteries for electric scooter and
bicycle applications in China and to use and sell those batteries
worldwide. Other propulsion applications are excluded. James R.
Metzger, Interim President and Chief Operating Officer of ECD
Ovonics, said, "We look forward to establishing a long-lasting
alliance with G4. Not only does this new license reaffirm the
strength of our intellectual property, but also confirms that NiMH
battery manufacturers value access to advanced Ovonic materials and
technology. As our consumer battery licensing business continues to
grow, we are pleased to welcome a North American manufacturer of
NiMH batteries." Martin Higgins, President of G4 Synergetics, said,
"We are very excited about the potential of the products we are
developing. Access to Ovonics resources will quicken our
development and allow us to service our target markets while
respecting Ovonics intellectual property." About ECD Ovonics: ECD
Ovonics is the leader in the synthesis of new materials and the
development of advanced production technology and innovative
alternative energy products and solutions. The company's portfolio
of alternative energy solutions and proprietary information
processing technologies features the latest advances in solar
electric power generation, NiMH batteries, and fuel cell, solid
hydride storage and phase-change memory technologies. 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 the Company is
available at http://www.ovonic.com/. About G4 Synergetics: G4
Synergetics Incorporated was formed in 2005. G4 is developing a
range of battery products, including NiMH, at its development
facility in Florida and has a manufacturing facility in Juarez,
Mexico. G4 products are expected to be competitive in virtually all
rechargeable battery applications. For more information on G4,
contact Dave Smith at (248) 339-9812. 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,
+1-248-293-0440, both of Energy Conversion Devices, Inc. Web site:
http://www.ovonic.com/
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