ECD's Battery Subsidiary Grants Patent License to Shenzhen Grepow
09 8월 2007 - 12:06AM
PR Newswire (US)
ROCHESTER HILLS, Mich., Aug. 8 /PRNewswire-FirstCall/ -- Energy
Conversion Devices, Inc. (ECD) (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
Shenzhen Grepow Battery Co., Ltd. (Grepow) of the People's Republic
of China. Under the consumer battery license grant, Grepow has a
royalty-bearing, nonexclusive right to manufacture NiMH batteries
in China and use and sell NiMH batteries worldwide. No propulsion
battery rights were granted. James R. Metzger, ECD's Executive Vice
President and Chief Operating Officer, said, "China is an already
important and rapidly growing market for our proprietary Ovonic
NiMH battery technology. We are extremely pleased manufacturing
companies within the People's Republic of China have recognized the
strength of our intellectual property and appreciate access to our
advanced materials. We welcome Grepow as a licensee and look
forward to a long-lasting relationship." Mr. Liu Miao, Grepow's
General Manager, said, "We are glad to become an Ovonic licensee.
We look forward to collaboration with the Ovonic scientists to
improve our technology and competitiveness in the market." About
Energy Conversion Devices: Energy Conversion Devices 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 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 holds the basic patents in
its fields. More information on the Company is available at
http://www.ovonic.com/. About Grepow: Shenzhen Grepow Battery Co.,
Ltd. was formed in 1998 and is located in Shenzhen, China. Grepow
produces an extensive range of NiMH products to address markets
such as digital cameras, R/C cars, home appliances, cordless phones
and power tools. For more information, Grepow's website is
http://www.grepow.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 of Energy Conversion Devices, Inc.,
+1-248-293-0440 Web site: http://www.ovonic.com/
http://www.grepow.com/
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