ECD Ovonics Demonstrates Hydrogen Storage Technology For a New Generation of Automobiles at Challenge Bibendum

  Leader in Alternative Energy Solutions Bridges Gap to Hydrogen Future
           Through Joint Venture Texaco Ovonic Hydrogen Systems

  WHO:
  *  Energy Conversion Devices, Inc. (ECD Ovonics)

* The pioneer in hydrogen-based energy solutions and a major proponent of renewable energy and the hydrogen economy vision since the company's founding in 1960

* A leader in solar power systems, rechargeable nickel metal hydride (NiMH) batteries, and solid hydrogen storage systems

WHAT: ECD Ovonics will be holding a press conference and providing test drives at Challenge Bibendum -- Michelin's Premier Environmental Vehicle Event

Texaco Ovonic Hydrogen Systems (TOHS), an ECD Ovonics joint venture, is unveiling storage technology that brings hydrogen storage systems to both vehicles and to refueling stations. The technology is a compact solid hydrogen storage system that promises to deliver cars with similar range, performance and refueling experience as vehicles today.

The solution is a proprietary hydride storage system, which can be used both at the refueling site and onboard the vehicle. Showcasing this breakthrough is a hybrid sedan (a 2002 Toyota Prius) that TOHS has modified to run on its new low-pressure, solid hydrogen storage system. TOHS' low- pressure, hydrogen fuel tanks can also be used at refueling stations allowing drivers to refuel their hydrogen-fueled vehicles safely and easily. Because these Ovonic(TM) solid storage systems are compact and work at low pressure, refueling sites can be smaller with simpler designs. Expensive high-pressure storage tanks and the compressors to fill them would no longer be needed. The tanks can also be located underground similar to the way gasoline tanks are now.

This technology is viewed as bridging the gap to a fully realized hydrogen economy. In addition to working in hybrid models, Ovonic(TM) hydrogen storage systems can power internal combustion engines and fuel cell vehicles giving automakers an option to apply this to a variety of car models.

WHEN: Wednesday, September 24 at 2:30 PST

WHERE: Challenge Bibendum: Infineon Raceway - Sonoma, California/Press Conference at WINNER'S CIRCLE

WHY: "Hydrogen is widely recognized as the most promising path to our transportation future," said Stanford R. Ovshinsky, president of TOHS, and ECD Ovonics' co-founder, president and CEO. "But getting to that future is our current challenge. We believe that taking an integrated system approach with onboard as well as off-board (refueling) storage of this fuel leads to a logical short- and even long-term solution."

* The foregoing project is not sponsored by or affiliated with Toyota Motor Corporation.