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Ovonic Battery grants NiMH license to China's TMK

Posted: 21 Aug 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Ovonic Battery? ECD Ovonics? patents? license agreement? NiMH battery?

Ovonic Battery Co. Inc. (Ovonic Battery), a subsidiary of Energy Conversion Devices Inc. (ECD Ovonics) has entered into a patent license agreement in connection with its proprietary NiMH battery technology with TMK Power Industries Ltd. (TMK) of China. Under the consumer battery license grant, TMK has a royalty-bearing, nonexclusive right to manufacture, use and sell NiMH batteries for consumer applications and electric bicycles which are manufactured in China. All other propulsion applications are excluded.

"Our licensing strategy recognizes the growing importance of NiMH suppliers within China. TMK's electric bicycle market presence is of great value to us in our efforts to gain ever-growing alliances within China," said Stanford R. Ovshinsky, ECD Ovonics President and Chief Scientist and Technologist and CEO of Ovonic Battery.

ECD Ovonics manufacturers Ovonic thin-film amorphous solar cells, modules, panels and systems for generating solar electric power; Ovonic NiMH batteries; Ovonic hydride storage materials; and Ovonic fuel cell technology.




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