ECD Grants Patent License to Lexel Battery

June 13, 2002 by Jeff Shepard

Energy Conversion Devices Inc. (ECD, Rochester Hills, MI) announced that its subsidiary, Ovonic Battery Company Inc., has entered into a patent license agreement in connection with its proprietary nickel-metal hydride (NiMH) battery technology with Lexel Battery Co. Ltd. (Shenzhen, China). Under the consumer battery license grant, Lexel has a royalty-bearing, nonexclusive right to make, use and sell consumer NiMH batteries for non-propulsion applications.

In a joint statement, ECD President and CEO and Ovonic Battery CEO Stanford Ovshinsky, and Ovonic Battery and ECD Chairman Robert Stempel, said, "It is gratifying to see companies from the People's Republic of China following the Chinese official policy of utilizing science and technology as a basis for their continued economic growth and joining the rest of all significant manufacturers of NiMH batteries who are licensees. It is noteworthy that China is recognizing the importance of intellectual property in its nation-building process."