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Berlin – 13 November 2007. Heliocentris Fuel Cells AG (ISIN DE000A0HMWH7), a leading system integrator for fuel cells, and Ovonic Hydrogen Systems LLC, a subsidiary of Energy Conversion Devices Inc. (ISIN US2926591098), have formalised their relationship by signing a sales agreement for hydrogen storage systems.
Under the terms of this cooperation, Heliocentris will procure metal hydride storage solutions from Ovonic and integrate them into system solutions and customer applications.
This will allow Heliocentris to reinforce and expand its market position as a leading system integrator and one-stop supplier of hybrid fuel cell solutions.
Metal hydride hydrogen storage systems have distinct advantages over conventional storage systems. Using this technique, the hydrogen is bound by special metal alloys at low pressure and only released when required. Thus the units are safer and more compact.
Dr. Colell, CEO of Heliocentris Fuel Cells AG comments: 'As a system integrator in an extremely innovative and rapidly growing technology sector, we rely on components which are trend-setting but which can be used immediately. Secure, compact storage solutions are a key component of every commercial fuel cell system. Ovonic is one of the leading storage solution suppliers so we are glad to have found in them a further best-in-class player and partner for our expanding system integration business.'
About Heliocentris Fuel Cells:
As a pioneer in the fuel cell industry, Heliocentris has many years of experience in the series production of fuel cell products. Based on its focus on teaching and R&D systems for fuel cells, Heliocentris is one of the world's market leaders with more than 10,000 training facilities and companies in more than 50 countries as customers. These customers are offered more than 50 different products from eight product lines, the complexity of which extends up to full laboratory systems. Over the coming years, Heliocentris is planning to further expand its product range and its market presence. Its further growth will be driven by both new products for teaching and R&D and by fuel cell systems for industrial applications. In addition to the Company's head office in Berlin, Heliocentris has one subsidiary on the North American market in Vancouver, Canada. Further information can be found at: www.heliocentris.com.
About Energy Conversion Devices:
Energy Conversion Devices, Inc. (Nasdaq:ENER) manufactures and sells thin-film photovoltaic solar modules that convert sunlight to energy. Distributed globally under the UNI-SOLAR(r) brand, the Company's photovoltaic products are based on proprietary technology and offer superior, cost-effective solutions for commercial roofing applications because they are lightweight, durable, flexible, can be integrated directly with building materials and generate more energy in real-world conditions. The Company also continues to build on its rich intellectual property and technology portfolio to commercialize and license a number of proprietary technologies. For more information on our company, please visit www.ovonic.com.
For further information please contact:
Heliocentris Fuel Cells AG
Dr. András Gosztonyi (CFO)
Tel: +49-(0)30-6392-6185
e-Mail
Ovonic Hydrogen Systems LLC
Michael Zelinsky
Director, Hydrogen Systems Marketing and Development
a subsidiary of Energy Conversion Devices, Inc.
D: +1-(0)248-293-7234
F: +1-(0)248-299-4520
www.ovonic-hydrogen.com
Disclaimer:
This disclosure contains statements of a forward-looking nature. These include forecasts of future events, trends, plans or goals. Such statements should not be understood as guaranteed as they are by their nature subject to known and unknown risks and imponderables and can be influenced by other factors, as a consequence of which the actual results, plans and goals of Heliocentris may materially deviate from the forward-looking statements made or implied. The factors that can cause such deviations include, for example, changes in the economic or business environment or changes in business strategy.
The company is not obliged and may not be liable to review, change or update any prognostic or other statements which are aimed at the future and are based on the view at the time of the statement. In addition, this press release represents neither an offer for the sale of shares made out to the bearer nor a request for an offer for the purchase of shares to be submitted. It is for information purposes only |
