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ECD/OBC ANNOUNCES AGREEMENT WITH SYLVA INDUSTRIES OF HONG KONG

 TROY, Mich., July 22 /PRNewswire/ -- Energy Conversion Devices, Inc. ("ECD") (OTC: ENER) and its subsidiary Ovonic Battery Company, Inc. ("OBC") today announced a new $1.625 million materials purchase agreement with their consumer battery licensee Sylva Industries, Ltd. ("Sylva"), a member of the Gold Peak Industries Group of Hong Kong.
 Under the agreement, Sylva will purchase $1,625,000 of Ovonic nickel metal-hydride ("NiMH") battery materials from ECD/OBC, enabling Sylva to ramp up production of Ovonic rechargeable batteries for consumer applications.
 Sylva is stepping up production to meet increased demand for Ovonic NiMH rechargeable batteries in consumer markets. Sylva is an ECD/OBC nonexclusive manufacturing and sales licensee with particular strength in Asian markets.
 For Sylva, the agreement represents the beginning of its large-scale launch of Ovonic batteries into those markets.
 Stanford R. Ovshinsky, president and CEO of ECD and CEO of OBC, said, "This is an important step in making our Ovonic metal hydride battery the new world standard for rechargeable consumer batteries." Noting that the $2.2 billion rechargeable consumer battery market continues to grow by over 10 percent per year, he added, "We anticipate an enormous market for our battery as it replaces current technology."
 ECD, based in Troy, is a pioneer in amorphous and synthetic materials technology. It manufactures and exploits its technology in the fields of energy, information and synthetic materials.
 -0- 7/22/93
 /CONTACT: Stanford R. Ovshinsky, president and chief executive officer, ECD, and chief executive officer, OBC, 313-280-1900; or Subhash K. Dhar, president and chief operating officer, OBC, 313-362-1750/
 (ENER)


CO: Energy Conversion Devices, Inc.; Ovonic Battery Company, Inc.;
 Sylva Industries, Ltd. ST: Michigan IN: SU: CON


JG -- DE013 -- 4429 07/22/93 10:29 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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