United Solar Ovonic Grants Patent License to Intellect Battery

August 16, 2005 by Jeff Shepard

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

In a joint statement, ECD Ovonics Chairman and CEO/Ovonic Battery Chairman Robert Stempel and ECD Ovonics President and CTO/Ovonic Battery CEO Stanford Ovshinsky said, "We are pleased to welcome Intellect to the growing number of our Chinese licensees to manufacture consumer NiMH batteries. We are continuing with our strategy to license battery manufacturers within the quickly growing Chinese NiMH battery market. We look forward to a long-lasting relationship with Intellect Battery."