Energy Conversion Devices, Inc. (ECD Ovonics) subsidiary, Ovonic Battery Company, Inc., has entered into a patent license agreement in connection with its proprietary nickel metal hydride (NiMH) battery technology with Zhejiang Kan Battery Co., Ltd. (Zhejiang Kan) of the People’s Republic of China. Under the consumer battery license grant, Zhejiang Kan has a royalty-bearing, nonexclusive right to make, use and sell NiMH batteries for consumer, nonpropulsion applications.
“We are pleased to announce the addition of Zhejiang Kan as an Ovonic licensee,” said Stanford R. Ovshinsky, ECD Ovonics President and Chief Scientist and Technologist and CEO of Ovonic Battery. “Our strategy of licensing our consumer NiMH battery technology in the People’s Republic of China reflects the rapid growth of the Chinese battery market. Zhejiang Kan’s decision to become an authorized supplier of NiMH batteries results from our strong patent position and Zhejiang Kan’s desire for access to advanced Ovonic technology.”
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