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Cobasys was formed as a joint venture between
Chevron (NYSE: CVX) and Energy Conversion Devices (ECD
Ovonics) (NASDAQ: ENER) to further the development of
emerging technologies and alternative energy processes
and products.
Chevron Corporation
Chevron is one of the largest integrated energy companies
in the world. Headquartered in the U.S., more than 56,000
employees conduct business in approximately 180 countries
around the world. Chevron employees are engaged in every
aspect of the oil and natural gas industry, including
exploration and production; refining, marketing and
transportation; chemicals manufacturing and sales; geothermal
and power generation.
Chevron Technology Ventures, a subsidiary of Chevron,
is involved with identifying, developing, and commercializing
new and emerging technologies, as well as new energy
systems that promise to play an increasingly important
role in the world's energy mix and environmental stewardship.
These activities include advanced batteries, fuel cells,
fuel processing, hydrogen storage, and methods of converting
solid, liquid, and gaseous hydrocarbons into clean liquid
fuels. Chevron Technology Ventures is actively engaged
in developing and commercializing these technologies
through internal development, joint ventures, and equity
investments to create new market opportunities for the
next generation of clean, efficient energy systems.
Energy Conversion
Devices, Inc. (ECD Ovonics)
ECD Ovonics 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 electric power
generation, NiMH batteries, and fuel cell, solid hydride
storage and phase-change memory technologies.
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. All significant consumer
battery manufacturers worldwide are licensees or affiliates
of ECD Ovonics. Cobasys was founded to develop and to
commercialize its basic proprietary NiMH rechargeable
battery technology.
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