Current Business
According to SEC filings, ECD Ovonics and Cobasys hold 125 US patents related to NiMH battery technology. 13 of the patents, considered particularly important, are due to expire by 2014.
Cobasys and A123Systems announced a partnership in 2007 to develop, manufacture, sell and service lithium ion batteries for automotive applications. A123Systems will provide their proprietary nanophosphate lithium ion technology and manufacture the batteries, while Cobasys will act as the tier one supplier to the automotive industry, providing extensive development and integration services.
Cobasys is currently contracted to provide NiMH battery systems for the GM's Saturn Vue Green Line SUV, GM's Saturn Aura Green Line sedan, and GM's Chevrolet Malibu Hybrid Sedan. Although in 2009 GM decided to discontinue the Saturn brand.
In March, 2007, Cobasys announced that they were exploring strategic alternatives to growth, engaging the services of financial advisors from UBS Investment Bank and Goldman, Sachs & Co.
On July 14, 2009, the sale of Cobasys to SB LiMotive Co. Ltd., an electric vehicle battery joint venture between Samsung SDI Co. Ltd. and Robert Bosch GmbH, was announced.
On February 14, 2012, the former Energy Conversion Devices Inc. operating subsidiary "Ovonic Battery Company" was acquired by BASF Corporation of Germany.
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