Energy Conversion Devices Makes Interest Payment on Notes
January 13 2012 - 9:00AM
Energy Conversion Devices, Inc. (ECD) (Nasdaq:ENER), a leading
global provider of lightweight, flexible solar products and
systems, today announced that it has made its previously deferred
semi-annual interest payment on its 3.00% Convertible Senior Notes
due June 2013 (Notes). The payment brings ECD current with its
obligations under the Notes.
About Energy Conversion Devices
Energy Conversion Devices (ECD) (Nasdaq:ENER) has a renowned 51
year history since its formation in Detroit, Michigan and has been
a pioneer in materials science and renewable energy technology
development. The company has been awarded over 500 U.S. patents and
international counterparts for its achievements. ECD's United Solar
wholly owned subsidiary has been a global leader in
building-integrated and rooftop photovoltaics for over 25 years.
The company manufactures, sells and installs thin-film solar
laminates that convert sunlight to clean, renewable energy using
proprietary technology. UNI-SOLAR® brand products are unique
because of their flexibility, light weight, ease of installation,
durability, and real-world energy production. ECD's technology
portfolio also includes the Ovonic Battery Company, the inventor
and worldwide licensor of nickel-metal-hydride battery technology
and the developer of proprietary advanced lithium-ion cathode
materials, along with other emerging energy storage technologies.
ECD's Ovonyx joint venture is the inventor and worldwide licensor
of phase change memory (PCM) technology. For more information,
please visit ECD on the web at energyconversiondevices.com and on
Facebook, and follow ECD on Twitter @ECD_ENER.
Safe Harbor Statement
This release may contain 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, restructuring, 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; our ability to achieve
expense reductions and levels of one-time costs, including
restructuring charges; our ability to meet all the terms and
conditions of our debt obligations; 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. Except as
required by law, Energy Conversion Devices, Inc. assumes no
responsibility to update any forward-looking statements contained
herein.
CONTACT: Michael E. Schostak
Director of Business Development & Communications
Energy Conversion Devices, Inc.
+1 (248) 299-6063
investor.relations@energyconversiondevices.com
Steven Blow
Eisbrenner Public Relations
+1 (248) 303-1067
sblow@eisbrenner.com
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