ROCHESTER HILLS, Mich., Aug. 15, 2011 (GLOBE NEWSWIRE) -- Ovonic Battery Company, Inc. (OBC) a subsidiary of Energy Conversion Devices, Inc. (ECD) (Nasdaq:ENER), announced it has extended its license agreement with GS Yuasa International Ltd., in which OBC is granting GS Yuasa a license to use nickel-metal-hydride (NiMH) technology developed and patented by OBC. GS Yuasa is a holding company jointly established by Yuasa Corporation and Japan Storage Battery Co., Ltd. (JSB). Yuasa has been an OBC licensee since 1995 and JSB has been an OBC licensee since 1999. The new agreement extends the license for the life of licensed patents.
"We are pleased to continue and extend our relationship with GS Yuasa, a global leader for consumer rechargeable batteries," said Michael Fetcenko, President of Ovonic Battery Company. "The market for NiMH continues to grow and expand into new areas, including industrial applications such as telecommunications, UPS and smart grid energy storage. OBC continues to advance NiMH technology to deliver improved performance, including energy, power, cycle life, high temperature performance and cost reduction. By providing new and existing licensees access to advanced technology, we facilitate market growth and increased royalty revenue."
About Ovonic Battery Company
Ovonic Battery Company, Inc. (OBC), operating as part of ECD's Ovonic Material Division, is the inventor, developer and worldwide licensor of NiMH battery technology. Not only does OBC manufacture battery cathode materials for sale to licenses, but it continues to innovate advanced materials to expand markets for NiMH batteries in consumer, vehicle and stationary fields of use. Through its innovative R&D, OBC has established a proprietary position applicable to cathode materials for lithium-ion batteries and to next generation batteries such as very high energy MH-Air (Proton-ion) batteries.
About Energy Conversion Devices
Energy Conversion Devices (ECD) (Nasdaq:ENER) is a global leader in building-integrated and rooftop photovoltaics. Through its United Solar Ovonic subsidiary, the company manufactures, sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. The company also designs, manufactures and installs rooftop photovoltaic systems, which enable customers to transform unused rooftop space into a value-generating asset. ECD's Ovonic Materials Division includes the Ovonic Battery Company, the inventor and worldwide licensor of nickel-metal-hydride battery technology and the developer of proprietary advanced lithium-ion cathode materials, along with other emerging energy storage technologies. ECD's Ovonyx joint venture is the inventor and worldwide licensor of phase change memory (PCM) technology. For more information, please visit ECD on the web at energyconversiondevices.com and on Facebook, and follow ECD on Twitter @ECD_ENER.