ECD Ovonics' Subsidiary Expands Relationship with BYD

May 16, 2005 by Jeff Shepard

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

ECD Ovonics Chairman and CEO and Ovonic Battery Chairman Robert Stempel stated, "We are pleased to grant BYD access to recent Ovonic patents and advanced technology. We have watched BYD's rapid growth in NiMH over the last few years and, as part of our strategy to participate in the growing Chinese economy, we hope to assist their efforts in developing premium performance NiMH products."