This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

United Solar Awarded Patent For Proprietary Nano-Crystalline(TM) Technology

Company Achieves Another Milestone on Its Technology Roadmap

Continuing Innovation Will Lead to Lower-Cost Solar Energy

AUBURN HILLS, Mich., March 22, 2011 (GLOBE NEWSWIRE) -- United Solar, a wholly owned subsidiary of Energy Conversion Devices, Inc. (Nasdaq:ENER) and a leading global manufacturer of light-weight, flexible thin-film solar modules, today announced that the United States Patent and Trademark Office issued U.S. Patent 7,902,049, "Method for depositing high-quality microcrystalline semiconductor materials" to Subhendu Guha, Jeff Yang and Baojie Yan for United Solar.

"This is yet another confirmation of the unique and innovative technological processes that United Solar is committed to developing, now and into the future," said Mark Morelli, President and CEO of Energy Conversion Devices. "The proprietary technology covered in this patent will enable us to achieve our 12% aperture-area conversion efficiency in 2012, as outlined in our technology roadmap. The direct result of this is that we will be able to harness the sun's energy in a more cost-effective manner."

Earlier this year, the company announced that the National Renewable Energy Laboratory (NREL), an official U.S. Department of Energy laboratory, had conducted independent testing and confirmed that United Solar's Nano-Crystalline technology achieves 12% initial conversion efficiency in a large-area encapsulated cell, a world-record for thin-film silicon solar technology.

United Solar has been awarded nearly 70 United States patents for various technological advancements in its 25-year history.

About Energy Conversion Devices/United Solar

Energy Conversion Devices (ECD) (Nasdaq:ENER) is a leader in building-integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using proprietary technology. ECD's UNI-SOLAR ® brand products are unique because of their flexibility, light weight, ease of installation, durability and real-world efficiency. In addition, ECD's Ovonic Materials Division is the pioneer in NiMH battery technology, and is developing low cost fuel cells, hydrogen production from bioreformation, and hydrogen storage technologies. For more information, please visit energyconversiondevices.com.

This release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not constitute guarantees of future performance. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to maintain our customer relationships and establish new relationships; the worldwide market for solar energy systems; changes to government incentives related to solar energy; our customers' ability to access capital to finance the purchase of our products; and our ability through technology improvements to reduce cost and improve the conversion efficiency of our solar products. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release. Energy Conversion Devices, Inc. assumes no responsibility to update any forward-looking statements contained herein.

CONTACT: Investor Relations Contact:
         Michael E. Schostak
         Energy Conversion Devices
         (248) 299-6063
         investor.relations@energyconversiondevices.com
         
         Public Relations Contact:
         Wendy Ventura
         United Solar
         (248) 293-6064
         pr@uni-solar.com

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,163.95 +122.41 0.68%
S&P 500 2,121.14 +16.94 0.81%
NASDAQ 5,090.8830 +58.1320 1.16%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs