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United Solar Ovonic Awarded $9.1 Million Contract From Air Force Research Laboratory Thursday March 15, 10:30 am ET The contract will continue funding the development of lightweight and high- efficiency solar cells and solar modules for airship and space applications
AUBURN HILLS, Mich., March 15 /PRNewswire-FirstCall/ -- United Solar Ovonic LLC, the world leader in thin-film amorphous-silicon solar technology and a wholly owned subsidiary of Energy Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER - News), announced today that the Air Force Research Laboratory (AFRL) in Kirtland AFB, New Mexico, has exercised an 18-month contractual option for $9.1 million with United Solar Ovonic to develop new solar cell technology to be used in space and airship vehicles addressing defense and homeland security applications. ADVERTISEMENT
Today's announcement builds upon the success of earlier contracts with the Air Force. Since May 2003, United Solar Ovonic has been working with the Advanced Space Power Generation Group in the Space Vehicles Directorate of AFRL to develop ultralightweight solar arrays on thin stainless steel foils and polymers for use in space and airship vehicles. Solar cells on thin stainless steel foil are already being tested in AFRL experimental missions such as TacSat-2 satellite, which was launched in December, 2006.
UNI-SOLAR® space photovoltaic (PV) products offer an ultralight, low- cost alternative to conventional space PV modules made of crystalline silicon or gallium arsenide. UNI-SOLAR® triple-junction modules, originally developed for terrestrial applications, are made of amorphous silicon-based thin-film alloys, which are deposited on a 5-mil flexible stainless steel substrate. By utilizing a polymeric substrate, space cells have already been developed that have a specific power greater than 1000 Watts per kilogram (W/kg), which is significantly higher than what is currently available. A high specific power is required for airship application. The radiation hardness and superior high-temperature performance of amorphous silicon make it an attractive material for space application.
"Next generation solar arrays for Air Force missions need to be cheaper, lighter and more stowable than what are currently available," said John Merrill, Program Manager of the AFRL Advanced Power Generation Program at Kirtland AFB. "We are impressed with the work that United Solar Ovonic has been carrying out under AFRL contracts to address these goals."
"We are delighted to collaborate with AFRL to develop products for this rapidly expanding market," said Subhendu Guha, President and Chief Operating Officer of United Solar Ovonic. "The new funding will accelerate our commercial goal of supplying solar cells for satellite and airship applications."
About United Solar Ovonic
United Solar Ovonic, building on technology invented and pioneered by ECD Ovonics, is the world leader in thin-film amorphous photovoltaics. Because of characteristics unique to the United Solar Ovonic solar cell technology, such as lightweight, ruggedness and flexibility, it is ideal as building-integrated photovoltaic roofing systems for residential and industrial customers. ECD Ovonics and United Solar Ovonic hold the basic patents covering the continuous roll-to-roll manufacturing of thin-film amorphous-silicon alloy multi-junction solar cells and related products. More information is available at www.uni-solar.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 Ovonics, as of the date of this release, believes to be reasonable and appropriate. ECD Ovonics 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. The risk factors identified in the ECD Ovonics filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K, could impact any forward-looking statements contained in this release.
-------------------------------------------------------------------------------- Source: United Solar Ovonic LLC
Posts: 6410 | Registered: Jul 2006
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Just bought in at $33.10 - used to own ENER in '04 bought in at 9 sold at approx. 20 kicked myself and have been waiting for a good buying op - just got one - IMO
Posts: 268 | From: New York | Registered: Mar 2005
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UPDATE 1-Cobasys to explore strategic alternatives
CHICAGO, March 14 (Reuters) - Cobasys, which produces batteries used in hybrid gasoline-electric vehicles, said on Wednesday its owners have enlisted investment bankers to explore strategic alternatives.
The venture, which is owned by Energy Conversion Devices Inc. and Chevron Corp. , said it is looking for ways to capitalize on growing demand for hybrid vehicles and stationary power.
Cobasys is a major producer of nickel metal hydride batteries now used to power hybrid vehicles and has contracts to supply battery and control systems for eight hybrid vehicle production and/or development programs.
The contracts include deals with General Motors Corp. for the Saturn Aura, Saturn Vue Green Line and a Chevrolet Malibu hybrid.
UBS Investment Bank is representing Energy Conversion Devices and Goldman, Sachs & Co. is representing Chevron.
Cobasys also has a contract to develop lithium ion battery technology for the Volt plug-in hybrid "concept" car GM showed at the North American International Auto Show in January.
The company is competing with a joint venture of Johnson Controls Inc. and France's Saft PA to develop the technology.
Lithium ion batteries, which are now used in laptops and other electronic devices, take up less space, weigh less, generate more power and recharge more quickly than nickel metal hydride batteries.
However, they are more expensive and have been more prone to overheating, which has caused several high-profile incidents involving fires in laptop computers.
Posts: 268 | From: New York | Registered: Mar 2005
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Cobasys Delivers Innovative Energy Storage System for Lotus Engineering 'EVE Hybrid' Program Monday March 19, 1:00 pm ET
ORION, Mich., March 19 /PRNewswire-FirstCall/ -- Cobasys, a leading supplier of advanced integrated energy storage solutions, today confirmed that it has been selected to supply its NiMHax® Nickel Metal Hydride (NiMH) battery systems for integration in the Lotus Engineering EVE (efficient, viable and environmental) vehicle. ADVERTISEMENT
The "EVE Hybrid" technology, displayed in a Proton Gen2 vehicle, was unveiled at the Geneva International Motor Show and featured a Cobasys NiMHax 144 Volt 30 kW energy storage system with integrated cooling. Lotus Engineering selected the Cobasys system because of their leadership role in hybrid battery system development and integration.
The NiMHax battery system utilizes the Cobasys Series-1000 NiMH battery modules and incorporates all necessary features that enable "plug-and-play" capability for easy installation into the EVE Hybrid. The NiMHax system features include: fully integrated battery management system hardware and software, redundant safety controls, packaging, wiring and thermal management based on a newly developed liquid cooling system that optimizes high power HEV performance. Fully integrated control algorithms were also implemented to help optimize the energy management functions and product durability.
"We have built a reputation for offering reliability, high performance, safety and long-life in a package ideally suited for a multitude of transportation applications," stated Scott Lindholm, Vice President - Sales and Systems Engineering. "At Cobasys, we are using our unique systems integration 'know how' to help hybrid vehicle manufacturers around the world offer consumers efficient, cost competitive and dependable hybrid vehicles."
The Lotus Engineering project demonstrates the Cobasys commitment to helping automakers accelerate the commercialization of their hybrid strategies. Cobasys' totally integrated "plug-and-play" system technology minimized development time and provided the optimal business case proposition.
About Cobasys
Cobasys designs, manufactures and integrates advanced battery system solutions for transportation markets, including Hybrid Electric Vehicles (HEV), Electric Vehicles (EV) and 36/42 Volt applications and to stationary markets, including Back-Up power supply systems for Uninterruptible Power Supply (UPS), Telecom and Distributed Generation markets.
Cobasys is a joint venture between Chevron Technology Ventures LLC, a subsidiary of Chevron Corporation (NYSE: CVX - News) and Energy Conversion Devices, Inc. (Nasdaq: ENER - News).
For more information about Cobasys, contact Ray Wagner at 248-620-5700 or visit their website at http://www.cobasys.com.Posts: 6410 | Registered: Jul 2006
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someone on the YHOO board thinks that Cobasys would IPO in May - they seem to be pretty good
Posts: 268 | From: New York | Registered: Mar 2005
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AP Ahead of the Bell: BofA Starts Solar Tuesday March 27, 7:13 am ET Banc of America Securities Starts Coverage of Solar Sector With 2 "Buy"-Rated Companies
NEW YORK (AP) -- Banc of America Securities began coverage of the solar cell sector, saying that a mix of government incentives, declining production costs and rising oil prices bode for "substantial growth" in the industry. ADVERTISEMENT
However, analyst Eric K. Brown cautioned late Monday that investors should be selective about the solar stocks they choose, given the increased ease of entry into the industry which could mean tougher competition ahead.
The emergence of solar cell production in China, increased supply of polysilicon -- the material used to make photovoltaic cells -- and new technologies could attract new players to the market, Brown wrote in a note to clients. More solar cell supply could undermine prices, too, and hurt margins.
The analyst rated Sunpower Corp. a "Buy," calling the company his top pick in the solar PV group. First Solar Inc. also garnered a "Buy" rating. Brown started China's Suntech Power Holdings Co. and Energy Conversion Devices Inc. at "Neutral," but rated Evergreen Solar Inc. at "Sell" with an $8 price target, citing the company's lack of visibility on growth as a competitive disadvantage.
Posts: 6410 | Registered: Jul 2006
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Isn't ECD just and abbreviation of the company name? I do not see a new sybol here?
Posts: 942 | From: Wisconsin | Registered: Jan 2006
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A buddy of mine called me about this one yesterday and told me to get in before the close. I only had $1000 free in my main trading account, and didn't want to buy it in my IRA account because I had just sold out of somethign else and didn't want to have to hold it 3 days if it didn't perform. Seems like I should have bought and held for 3 days...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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