Texaco Ovonic Battery Systems Changes Name to COBASYS
March 17 2004 - 3:00PM
PR Newswire (US)
Texaco Ovonic Battery Systems Changes Name to COBASYS Name change
reflects focus on expanding field for NiMH storage solutions TROY,
Mich., March 17 /PRNewswire-FirstCall/ -- Texaco Ovonic Battery
Systems LLC announced today it has changed its name to COBASYS. The
name change to COBASYS reflects the company's focus on the
expanding fields for Nickel Metal Hydride (NiMH) storage solutions
in both the transportation and stationary power markets. COBASYS is
a joint venture between Texaco Energy Systems L.L.C., a unit of
ChevronTexaco Technology Ventures LLC, and a unit of Energy
Conversion Devices, Inc., the pioneer in the development of high
power, high energy NiMH batteries. In commenting on the name
change, Thomas S. Neslage, President and CEO of COBASYS, said "The
new name better signifies our emerging business model of becoming a
world class battery system solutions company. Although our name is
new, we remain fully committed to providing the most advanced,
effective battery system solutions and rising to the challenge of
two rapidly changing marketplaces. This year will mark the rollout
of exciting new, high quality products and systems that have been
years in development." COBASYS has developed a broad family of new
products and services to serve the increasing needs of energy
storage. Its NiMHax(TM) transportation battery systems provide
flexible solutions that meet the growing power and energy
requirements for Light-Duty, Medium-Duty and Heavy-Duty Hybrid
Electric Vehicle applications, as well as 42 Volt and Electric
Vehicle applications in the transportation industry. COBASYS is
also at the forefront in developing integrated emergency and
stand-by power systems solutions for Telecommunications --
NiCOM(TM) and Uninterruptible Power Supply (UPS) -- NiGUARD(TM)
applications. COBASYS will continue offering products with the
signature "Ovonics@work(R)." Ovonic(R) Nickel Metal Hydride
technology offers clear advantages over competing technologies,
with more than twice the energy and cycle life of conventional
lead-acid batteries. The batteries are rechargeable, smaller, safe,
maintenance free and environmentally friendly. Raymond Wagner, Vice
President of Marketing, is directing the transition to the COBASYS
name and hestated that "COBASYS is being positioned as a leader in
Nickel Metal Hydride battery solutions, committed to providing
battery-powered energy systems which deliver excellent performance,
value and reliability. Our plans are to introduce several lines of
production validated battery solutions for transportation,
stationary and telecommunications applications that range from 8.5
to 180 amp. hours." COBASYS completed construction of a new 170,000
square foot manufacturing facility in Springboro, Ohio during 2003.
The facility includes state-of-the- art manufacturing with ISO and
QS production certifications and expects to be capable of producing
1.2 million battery modules annually at full capacity. Along with
the new name, COBASYS has a new website. For more information about
COBASYS people and products, please contact: COBASYS 1250 Maplelawn
Drive Troy, Michigan 48084 Tel. 248-637-7400
http://www.cobasys.com/ DATASOURCE: COBASYS CONTACT: COBASYS,
+1-248-637-7400 Web site:http://www.cobasys.com/
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