Texaco Ovonic Battery Systems Changes Name to COBASYS

Texaco Ovonic Battery Systems Changes Name to COBASYS
Name change reflects focus on expanding field for NiMH storage solutions 


TROY, Mich., March 17  /PRNewswire-FirstCall/ -- Texaco Ovonic Battery Systems
LLC announced today it has changed its name to COBASYS.  The name change to
COBASYS reflects the company's focus on the expanding fields for Nickel Metal
Hydride (NiMH) storage solutions in both the transportation and stationary power
markets.  COBASYS is a joint venture between Texaco Energy Systems L.L.C., a
unit of ChevronTexaco Technology Ventures LLC, and a unit of Energy Conversion
Devices, Inc., the pioneer in the development of high power, high energy NiMH
batteries.

In commenting on the name change, Thomas S. Neslage, President and CEO of
COBASYS, said "The new name better signifies our emerging business model of
becoming a world class battery system solutions company.  Although our name is
new, we remain fully committed to providing the most advanced, effective battery
system solutions and rising to the challenge of two rapidly changing
marketplaces.  This year will mark the rollout of exciting new, high quality
products and systems that have been years in development."

COBASYS has developed a broad family of new products and services to serve the
increasing needs of energy storage.  Its NiMHax(TM) transportation battery
systems provide flexible solutions that meet the growing power and energy
requirements for Light-Duty, Medium-Duty and Heavy-Duty Hybrid Electric Vehicle
applications, as well as 42 Volt and Electric Vehicle applications in the
transportation industry.  COBASYS is also at the forefront in developing
integrated emergency and stand-by power systems solutions for Telecommunications
-- NiCOM(TM) and Uninterruptible Power Supply (UPS) -- NiGUARD(TM)
applications.

COBASYS will continue offering products with the signature "Ovonics@work(R)." 
Ovonic(R) Nickel Metal Hydride technology offers clear advantages over competing
technologies, with more than twice the energy and cycle life of conventional
lead-acid batteries.  The batteries are rechargeable, smaller, safe, maintenance
free and environmentally friendly.

Raymond Wagner, Vice President of Marketing, is directing the transition to the
COBASYS name and hestated that "COBASYS is being positioned as a leader in
Nickel Metal Hydride battery solutions, committed to providing battery-powered
energy systems which deliver excellent performance, value and reliability.  Our
plans are to introduce several lines of production validated battery solutions
for transportation, stationary and telecommunications applications that range
from 8.5 to 180 amp. hours."

COBASYS completed construction of a new 170,000 square foot manufacturing
facility in Springboro, Ohio during 2003. The facility includes state-of-the-
art manufacturing with ISO and QS production certifications and expects to be
capable of producing 1.2 million battery modules annually at full capacity.

Along with the new name, COBASYS has a new website.  For more information about
COBASYS people and products, please contact:

  COBASYS
  1250 Maplelawn Drive
  Troy, Michigan 48084
  Tel. [phone]
  
  http://www.cobasys.com/

DATASOURCE: COBASYS



CONTACT:  COBASYS, [phone]



Web site:http://www.cobasys.com/ 

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