ECD Ovonics Expands Relationship with BYD

Energy Conversion Devices, Inc. says its subsidiary, Ovonic Battery Company, Inc., has expanded its existing consumer battery license agreement for its proprietary nickel metal hydride battery technology with BYD Company Ltd. in China. Under the consumer battery license grant, BYD has a royalty-bearing, nonexclusive right to make, use and sell consumer NiMH batteries for nonpropulsion applications.

Robert C. Stempel, chairman and CEO of ECD Ovonics and chairman of Ovonic Battery, said, “We have watched BYD’s rapid growth in nickel metal hydride 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.”

ECD Ovonics is the leader in the synthesis of new materials and the development of advanced production technology and innovative products. BYD Company Ltd. manufactures a broad line of NiCd, NiMH and Li-ion battery products.