Ovonics' Grants Patent License to Hunan Corun

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

“We are continuing with our strategy to license battery manufacturers in the quickly growing Chinese NiMH battery market and look forward to a long-lasting relationship with Hunan Corun,” said Stanford R. Ovshinsky, president, chief scientist and technologist of ECD Ovonics and CEO of Ovonic Battery.