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Technology Stocks : Energy Conversion Devices

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To: Tom Hoff who wrote (3187)	2/12/1999 10:51:00 AM
From: Don Devlin	Read Replies (1) of 8393

- CALSTART Sanyo, Ovonic Strengthen Deal on NiMH Batteries 02/11/1999 Osaka, Japan - Sanyo Electric Co. announced it is moving ahead with its deal with Ovonic Battery Co. to license Ovonic's nickel-metal hydride (NiMH) battery technology, reports Kyodo News International. The two first announced their tentative agreement in the fall (News Notes 10/28/98). Under the deal, Sanyo is licensing the technology and taking an equity interest in Ovonic, but the two still aren't saying how much of a stake. Sanyo is a leader in nickel-cadmium batteries, but Ovonic is considered to be the leader in NiMH batteries. General Motors and Honda (News Notes 4/10/96) have already made equity deals with Ovonic. GM is now using the longer-range Ovonic NiMH batteries in its 1999 EV1 electric sports coupe. Matsushita Battery Industrial Co., Ltd. had previously licensed Ovonic's NiMH technology, but the two had a falling-out and ended up in court (News Notes 3/7 & 3/11/96). For Europe, Ovonic has allied with Sanoh Industrial Co., Ltd. (News Notes 12/18/96).

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