ENER Accretion Acquisition Corporation

When Complete, Battle Creek Will Increase ECD's Total Nameplate Capacity to 420MW ROCHESTER HILLS, Mich., Oct. 14 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (NASDAQ:ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, today announced Battle Creek, Mich., as the location for its new 120MW solar cell manufacturing facility. The company expects to begin construction on the 265,000 square-foot facility this fall and to be in production by the end of 2009. Energy Conversion Devices also has the option to build a second 120MW facility at the Battle Creek site with the same specifications. Mark Morelli, ECD's president and chief executive officer, said, "We continue to profitably grow our business, and there is a strong demand worldwide for our solar products. To meet this demand, we are expanding our capacity to 1GW by the end of fiscal year 2012. After careful analysis of a number of potential sites we have chosen Battle Creek for this new 120MW plant as we continue to select sites that offer access to qualified workforces and the ability to quickly begin construction and ramp production. We plan to produce solar cells in Battle Creek, which will then be finished into solar laminates or integrated into BIPV products at other locations around the world." "We look forward to becoming a part of the Battle Creek community, and we expect to create 350 local jobs within the next three years. I'd like to thank Calhoun County, the City of Battle Creek and the Michigan Economic Development Corporation for their help during the selection process and their ongoing support. The economic incentives offered by State, County and Battle Creek governments, and the support and assistance of the Michigan Economic Development Corporation (MEDC) were key elements in our decision to choose Battle Creek, without which we would not have been able to expand in this community," added Morelli. The MEDC has offered Michigan Business Tax credits valued at $41.4 million over 20 years to win the company's business. A $12.6 million federal Community Development Block Grant approved by the MEDC and awarded to Calhoun County will fund infrastructure improvements needed to support the new plant. The MEDC and city have supported a 15-year, tax-free Renaissance Zone and property tax abatements for the site, worth an additional $67 million to the company. With additional funding for training assistance, the state and local incentive package totals approximately $120 million for the Battle Creek expansion. About Energy Conversion Devices Energy Conversion Devices, Inc. (ECD) (NASDAQ:ENER) is the leader in building integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry. The company manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR(R) brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster, less expensive, and ideal for use in a variety of applications including cell phones, digital cameras and personal computers. For more information, please visit http://www.ovonic.com/. This release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to achieve sustainable profitability; our ability to maintain our customer relationships; our ability to expand our manufacturing capacity in a timely and cost-effective manner; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and the resolution of pending legal disputes. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release. DATASOURCE: Energy Conversion Devices, Inc. CONTACT: Mark Trinske, Vice President, Investor Relations & Communications of Energy Conversion Devices, Inc., +1-248-299-6063 Web site: http://www.ovonic.com/

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