ROCHESTER HILLS, Mich., Oct. 1 /PRNewswire-FirstCall/ -- Energy
Conversion Devices (Nasdaq: ENER) announced today that its joint venture
Ovonyx has entered into a long-term license agreement with Hynix
Semiconductor Inc. (Hynix) for memory products under Ovonyx' patents and
intellectual property relating to Phase Change Memory (PCM) technology. The
agreement also provides that Ovonyx will actively support Hynix' program to
develop phase change memory products.
Mark Morelli, ECD President and CEO, stated: "Our proprietary PCM
technology has the potential for significant new commercial applications as
a cost-effective replacement for Flash and DRAM memories. The agreement
with Hynix is an important step in bringing the potential to fruition."
ECD and Ovonyx invented and pioneered the development of PCRAM
technology, thereby gaining a fundamental understanding of all aspects of
PCRAM operation, including phase change memory devices, materials,
processing, design, modeling, and performance optimization.
Hynix also has considerable experience and a significant portfolio of
intellectual property relating to semiconductor memories based on its many
years of research and development in the general field. Hynix will
continuously pursue emerging technology development and commercialization
of phase change memory products.
"This agreement provides Hynix with the ability to facilitate the next
generation memory development by cooperating together with Ovonyx," said
Sung Wook Park, Head of R&D Division of Hynix. "We anticipate opening the
new era of the PCM technology and lead to successful commercialization."
"Hynix' strong manufacturing presence and world-class development teams
in both the DRAM and Flash memory areas provide an excellent platform for
competitive and innovative PCRAM memory development and production," said
Tyler Lowrey, President & CEO of Ovonyx. "We are pleased and look forward
to working with Hynix on their PCRAM product development program."
About Hynix
Hynix Semiconductor Inc. (HSI) of Icheon, Korea, is the world's top
tier memory semiconductor supplier offering Dynamic Random Access Memory
chips ("DRAMs") and Flash memory chips to a wide range of established
international customers. The Company's shares are traded on the Korea Stock
Exchange, and the Global Depository shares are listed on the Luxemburg
Stock Exchange. Further information about Hynix is available at
http://www.Hynix.com.
About Ovonyx
Ovonyx was formed with the charter to commercialize the proprietary
phase- change semiconductor memory technology originally invented by S. R.
Ovshinsky at Energy Conversion Devices, Inc. (see website at
http://www.ovonic.com). Ovonyx nonvolatile memory technology offers significantly
faster write and erase speeds, higher cycling endurance, and better scaling
performance with new generations of photolithography than conventional
Flash memory. It also has the advantage of a simple fabrication process
that allows the design of semiconductor chips with embedded nonvolatile
memory using only a few additional mask steps. Ovonyx is pursuing
commercialization of its array- addressed memory systems through licenses
and joint development programs with semiconductor manufacturers including
Hynix, BAE Systems, Intel Corporation, STMicroelectronics, Samsung
Electronics, Nanochip, Elpida Memory, and Qimonda. For more information on
Ovonyx, Inc., please visit http://www.ovonyx.com.
About Energy Conversion Devices
ECD is the leader in the synthesis of new materials and the development
of advanced production technology and innovative alternative energy
products and solutions. The company's portfolio of alternative energy
solutions and proprietary information processing technologies features the
latest advances in solar energy generation, phase-change memory and other
alternative energy technologies. The Company's wholly owned subsidiary,
United Solar Ovonic, is the world's largest manufacturer of thin-film
amorphous silican photovoltaic solar panels for converting sunlight into
electricity. ECD holds the basic patents in its fields. More information on
the Company is available at http://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, as of the date of this release, believes to be reasonable and
appropriate. ECD 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 ECD 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.
SOURCE Energy Conversion Devices
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Related links:
http://www.ovonic.com
http://www.Hynix.com
CONTACT:
Ghazaleh Koefod, Investor Relations, Energy
Conversion Devices, Inc., +1-248-293-0440
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