ECD Ovonics Announces Succession Planning Actions

ROCHESTER HILLS, Mich., Feb. 7, 2007 -- Energy Conversion Devices, Inc. (ECD Ovonics) announced today that its Board of Directors has established a committee comprised of all non-management directors for the purpose of developing and implementing an orderly succession plan for the Company's management team, including the Chairman and Chief Executive Officer, Robert C. Stempel, the President and Chief Scientist and Technologist, Stanford R. Ovshinsky, Executive Vice President and Chief Operating Officer, James R. Metzger, and other senior officers and managers. The committee has retained the executive search firm of Heidrick & Struggles who is consulting on this process. The Board also designated Stephen Rabinowitz to serve as Lead Director and to chair the committee.

Addressing the establishment of the committee, Mr. Stempel said, "As ECD Ovonics moves from a highly successful project development company to a more commercially-oriented, operations-focused manufacturing environment, our continuing growth and expansion requires additional and new management to realize the full potential of the strategy and opportunities we are pursuing. Stan, Jim and I welcome and support the Board's initiative and look forward to assisting the committee in its work."

Mr. Rabinowitz added, "Stan, Bob, Jim and the ECD team have developed ECD Ovonics into a visionary, technology-leading company offering breakthrough opportunities that position the company well for the future. In particular, Stan's pioneering work in the field of amorphous and disordered materials will continue to be the basis for innovative technological solutions in the fields of energy generation and storage, transportation and information for some time to come. As we continue to commercialize these technologies, our intent is to attract experienced and talented leadership who can follow this course and realize the full value of these technologies well into the next decade for the benefit of our shareholders, employees and customers."

About ECD Ovonics

ECD Ovonics is the leader in the synthesis of new materials and the development of advanced production technology and innovative products. It has invented, pioneered and developed its proprietary, enabling technologies in the fields of energy and information leading to new products and production processes based on amorphous, disordered and related materials. ECD Ovonics' proprietary advanced information technologies include Ovonic phase-change electrical memory, Ovonic phase-change optical memory and the Ovonic Threshold Switch. The Company's portfolio of alternative energy solutions includes Ovonic thin-film continuous-web amorphous solar cells, modules, panels and systems for generating solar electric power; Ovonic NiMH batteries; Ovonic hydride storage materials capable of storing hydrogen in the solid state for use as a feedstock for fuel cells or internal combustion engines or as an enhancement or replacement for any type of hydrocarbon fuel; and Ovonic fuel cell technology. ECD Ovonics designs and builds manufacturing machinery that incorporates its proprietary production processes, maintains ongoing research and development programs to continually improve its products and develops new applications for its technologies. ECD Ovonics holds the basic patents in its fields. More information on ECD Ovonics is available on www.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 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.

FCMN Contact: gkoefod@ovonic.com