ECD Ovonics Grants Patent to Intellect Battery Co.

Ovonic Battery Company, Inc, a subsidiary of Energy Conversion Devices, Inc., has entered into a patent license agreement with Intellect Battery Co. Ltd. of the People’s Republic of China in connection with its proprietary nickel metal-hydride battery technology. Under the consumer battery license grant, Intellect has a royalty-bearing, nonexclusive right to make, use and sell NiMH batteries for consumer, nonpropulsion applications.

ECD Ovonics leaders Robert C. Stempel and Stanford R. 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.”