ECD Grants Patent License to Chinese Company
Energy Conversion Devices Inc. (ECD, Rochester Hills, MI) announced that its subsidiary, Ovonic Battery Company Inc. (Troy, MI), has entered into a patent license agreement in connection with its proprietary nickel-metal hydride battery technology with Henan Huanyu Power Source Co. Ltd. (Huanyu, People's Republic of China). Under the consumer battery license grant, Huanyu has a royalty-bearing, nonexclusive right to make, use and sell consumer nickel-metal hydride batteries for non-propulsion applications.
In a joint statement, ECD President/CEO and Ovonic Battery CEO Stanford Ovshinsky and Ovonic Battery/ECD Chairman Robert Stempel said, "We are pleased that another company from the People’s Republic of China has joined our growing list of licensees from China. We look forward to working with our Chinese licensees to help China achieve its goals toward economic growth."