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Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Krowbar who wrote (3082)	1/27/1999 9:29:00 AM
From: WALT REISCH	Read Replies (1) \| Respond to of 8393

Kenneth R. Baker Joins ECD as Vice Chairman and COO January 27, 1999 09:23 TROY, Mich., Jan. 27 /PRNewswire/ -- Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER) today announced that Kenneth R. Baker has joined ECD as vice chairman of its board of directors and chief operating officer. Mr. Baker leaves General Motors after a long career during which he held a range of senior positions, most notably as vice president in charge of General Motors Global Research and Development activities. Most recently, he was vice president and general manager of GM's Distributed Energy Business Unit. Mr. Stanford R. Ovshinsky, president and CEO of ECD, said, "We are very pleased that Ken Baker is joining ECD. His strong talents and critical contributions to renewable energy and alternate energy sources make him an ideal addition to the company." "I believe in ECD," said Baker. "I believe in ECD technologies, in their profound market potential, and in the environmental benefits they will help catalyze. In a very real sense, I feel my entire career has been preparation for this most exciting opportunity." Mr. Robert C. Stempel, ECD's chairman, added, "Ken Baker's commitments to electric transportation will be a real asset to ECD and Ovonic Battery as we continue to expand our commercial activities. As general manager of GM's Distributed Energy Unit, Ken's background presents a natural synergy with United Solar's photovoltaic business." Under Mr. Baker's leadership, GM Research and Development was able to substantially extend the power of General Motors' innovation through worldwide alliances and the global alignment of all 15 GM research and development units behind a common, focused, market-driven agenda. In support of that initiative, Mr. Baker has also held several important industry positions including: founding chairman of the United States Advanced Battery Consortium (USABC); chairman, Electric Transportation Coalition; and operating officer, USCAR/PNGV. He has been recognized as one of the "Top 25 R&D Leaders in the World" by the A.D. Little Company. Mr. Baker serves on the Board of AeroVironment, Inc., the company which helped develop the EV1 electric vehicle. Mr. Ovshinsky has known Mr. Baker for several years through various scientific and technological projects and early work during the formation of USABC. ECD was the recipient of the first USABC contract in May 1992 to develop nickel metal hydride (NiMH) batteries for electric vehicles. Both men serve on the Board of Governors of the Cranbrook Institute of Science located in Bloomfield Hills, Mich. Mr. Stempel has worked with Mr. Baker on a variety of automotive projects at General Motors, where Mr. Stempel was formerly Chairman and CEO. Among their collaborations was the EV1 electric vehicle which was developed under the direction of Mr. Baker as the program manager of electric vehicles. Mr. Baker, 51, is married with three children and holds a BSME degree from Clarkson University. ECD is a leader in the synthesis of new materials and the development of advanced production technology and innovative products. It has pioneered and developed enabling technologies leading to new products and production processes based on amorphous, disordered and related materials, with an emphasis on alternative energy and advanced information technologies. ECD's web site address is ovonic.com. This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which ECD, as of the date of this release, believes to be reasonable and appropriate. ECD cautions, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based. SOURCE Energy Conversion Devices, Inc. /CONTACT: Ghazaleh Koefod of ECD, 248-280-1900; or Steven Curtis of Ruder Finn, 212-593-6319/ /Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 283250/ /Web site: ovonic.com (ENER)

To: Krowbar who wrote (3082)	1/27/1999 3:26:00 PM
From: Don Devlin	Read Replies (4) \| Respond to of 8393

Del, if anyone on this list thinks the EV1 is slow, I've sure done a lousy job describing it. The response to hitting the accelerator is instantaneousness. If you apply some pressure it's what I imagine a 'g' force would be like. It surprises the hell out of everyone the first couple of times. The car goes to 60 in eight seconds and is governed to prevent you from going over eighty. The prototype "Impact" EV1 went over 183 miles in a slightly modified version and held the speed record for electrics until a year or two ago. A golf cart, it is not. As for selling more of them. Where are they? Still waiting for delivery of the 99' with NiMH. New date is supposed to be March 13. It's been postponed half a dozen times having nothing to do with the battery. Don