Energy Conversion Devices Sells Cobasys To SB LiMotive

Energy Conversion Devices, Inc just announced that its subsidiary, Ovonic Battery Company, Inc, has sold its interests in Cobasys to SB LiMotive. Chevron Technology Ventures LLC, which also had an interest in Cobasys, has sold its interests as well. Cobasys is now owned by SB LiMotive, a joint venture between Samsung SDI Co., Ltd. and Robert Bosch GmbH.

Both Ovonic Battery Company, Inc. and Chevron Technology Ventures will continue to receive royalties paid to Cobasys from Panasonic until 2014, with Ovonic receiving 20% and Chevron receiving 80%. In January 2008, Cobasys paid Ovonic $1.3 million, but Ovonic gave $1.1 million of those royalties to Mercedes Benz to settle  a lawsuit filed by Mercedes-Benz in August of 2008. 

Cobasys makes batteries for hybrids, and some of their technology was developed by Ovonic and Energy Conversion Devices. Under the new intellectual property agreement between these companies, Cobasys can use the technology royalty-free for defined transportation uses, while Ovonic can use it royalty-free for undefined transportation uses.


Leave a Reply

Your email address will not be published. Required fields are marked *