Ovonic Battery Company, Inc. (OBC) a subsidiary of Energy Conversion Devices, Inc. (ECD), announced it has extended its license agreement with GS Yuasa International Ltd., in which OBC is granting GS Yuasa a license to use nickel-metal-hydride (NiMH) technology developed and patented by OBC. GS Yuasa is a holding company jointly established by Yuasa Corporation and Japan Storage Battery Co., Ltd. (JSB). Yuasa has been an OBC licensee since 1995 and JSB has been an OBC licensee since 1999. The new agreement extends the license for the life of licensed patents.

"We are pleased to continue and extend our relationship with GS Yuasa, a global leader for consumer rechargeable batteries," said Michael Fetcenko, President of Ovonic Battery Company. "The market for NiMH continues to grow and expand into new areas, including industrial applications such as telecommunications, UPS and smart grid energy storage. OBC continues to advance NiMH technology to deliver improved performance, including energy, power, cycle life, high temperature performance and cost reduction. By providing new and existing licensees access to advanced technology, we facilitate market growth and increased royalty revenue."