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Cobasys Delivers Innovative Energy Storage System for Lotus Engineering "EVE Hybrid" Program

Orion, MI, March 19, 2007- Cobasys, a leading supplier of advanced integrated energy storage solutions, today confirmed that it has been selected to supply its NiMHax® Nickel Metal Hydride (NiMH) battery systems for integration in the Lotus Engineering EVE (efficient, viable and environmental) vehicle.

The “EVE Hybrid” technology, displayed in a Proton Gen2 vehicle, was unveiled at the Geneva International Motor Show and featured a Cobasys NiMHax 144 Volt 30 kW energy storage system with integrated cooling. Lotus Engineering selected the Cobasys system because of their leadership role in hybrid battery system development and integration.

The NiMHax battery system utilizes the Cobasys Series-1000 NiMH battery modules and incorporates all necessary features that enable “plug-and-play” capability for easy installation into the EVE Hybrid. The NiMHax system features include: fully integrated battery management system hardware and software, redundant safety controls, packaging, wiring and thermal management based on a newly developed liquid cooling system that optimizes high power HEV performance. Fully integrated control algorithms were also implemented to help optimize the energy management functions and product durability.

“We have built a reputation for offering reliability, high performance, safety and long-life in a package ideally suited for a multitude of transportation applications,” stated Scott Lindholm, Vice President - Sales and Systems Engineering. “At Cobasys, we are using our unique systems integration ‘know how’ to help hybrid vehicle manufacturers around the world offer consumers efficient, cost competitive and dependable hybrid vehicles.”

The Lotus Engineering project demonstrates the Cobasys commitment to helping automakers accelerate the commercialization of their hybrid strategies. Cobasys’ totally integrated “plug-and-play” system technology minimized development time and provided the optimal business case proposition.

About Cobasys

Cobasys designs and manufactures advanced energy storage system solutions which feature NiMH battery technology for transportation markets, including Hybrid Electric Vehicles (HEV), Electric Vehicles (EV) and 36/42 Volt applications, in addition to Stationary Back-Up power supply systems for Uninterruptible Power Supply (UPS), Telecom and Distributed Generation markets.

Cobasys is a joint venture between Chevron Technology Ventures LLC, a subsidiary of Chevron Corporation (NYSE: CVX) and Energy Conversion Devices, Inc. (NASDAQ: ENER).

For more information about Cobasys, contact Ray Wagner at 248-620-5700 or visit our website at http://www.cobasys.com.

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