ECD Ovonics President, Chief Scientist and Technologist Awarded The 2005 Innovation Award for Energy and the Environment by The Economist

The Award Honors Ovshinsky for His Pioneering Work in and Development of the High-Powered NiMH Battery

ROCHESTER HILLS, Mich., Nov. 15 -- Energy Conversion Devices, Inc. (ECD Ovonics) today announced that Stanford R. Ovshinsky, president, chief scientist and technologist of ECD Ovonics, was awarded the 2005 Innovation Award for Energy and the Environment by The Economist for his pioneering work in and the development of the high- powered NiMH battery technology. The Economist's Innovation Award celebrates the global achievements and innovations of individuals who have positively transformed global business.

The 2005 Innovation Award for Energy and the Environment was presented at The Economist's 4th Annual Innovation Summit and Awards in London on Monday evening, November 14. Mr. Ovshinsky was one of seven leaders and innovators who were honored for "transforming the businesses, industries and markets in which they work."

"It is a distinct honor to be recognized by The Economist. We are very pleased that our Ovonic NiMH battery is the enabling technology for electric drive vehicles, such as hybrid electric vehicles, being introduced in ever- increasing volume by auto manufacturers worldwide," said Stan Ovshinsky.

"The entire ECD Ovonics organization is proud of the recognition Stan has received from The Economist for the Ovonic NiMH battery," said Robert C. Stempel, chairman and CEO of ECD Ovonics. "Over the years, Stan has built an innovative team offering solutions to many global problems such as air pollution, climate change gases and renewable alternatives to oil-based energy."

Mr. Ovshinsky pioneered the fundamentally new science of amorphous and disordered materials. In 1960, Stan and Iris Ovshinsky established ECD Ovonics to use science and technology based on his discoveries to solve fundamental societal problems by offering innovative solutions that can build new basic industries. Stan and Iris' original vision is becoming a reality. New industries, in addition to Ovonic NiMH batteries, include unique thin-film photovoltaics, optical media and electronic memories, as well as the basic groundwork for the coming hydrogen economy, have been realized as a result of Stan's inventions.

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 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 http://www.ovonic.com/ .