ECD Grants Consumer Battery License to TWD

September 25, 2002 by Jeff Shepard

Energy Conversion Devices Inc. (ECD, Rochester Hills, MI) announced that its subsidiary, Ovonic Battery Company Inc., has entered into a consumer battery license agreement, in connection with its proprietary technology relating to rechargeable nickel-metal hydride battery systems, with TWD Battery Co. Ltd. (TWD, China). The license agreement grants TWD a royalty-bearing nonexclusive license to make, use and sell consumer nickel-metal hydride batteries, with the right to sublicense affiliates of TWD.

Stanford Ovshinsky, ECD president and CEO, and Robert Stempel, ECD chairman, in a joint statement, said, "We are seeing increased interest from companies manufacturing nickel-metal hydride batteries in the People's Republic of China, and welcome TWD as the most recent addition to our growing list of licensees. We look forward to expanding our commercial ties and to bringing clean-energy technologies to China."