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United Solar Ovonic Signs Multi-Year Supply Agreement With Enfinity for 21.15 MW of Photovoltaic Laminates

Posted on: Friday, 5 October 2007, 12:00 CDT

AUBURN HILLS, Mich., Oct. 5 /PRNewswire/ -- United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc. , announced today that it has signed a multi-year supply agreement with Enfinity Management BVBA for 21.15 MW of UNI-SOLAR(R) thin-film photovoltaic (PV) laminates. Under the agreement, United Solar will supply Enfinity 1.15MW in calendar year 2007 and 10MW in each of the calendar years 2008 and 2009. Enfinity intends to use the UNI-SOLAR(R) products for roof-top installations in Europe.

"The UNI-SOLAR product is uniquely suited for roof-top applications because it is lightweight, provides superior electricity generation and integrates directly into the roof structure. These advantages, combined with the ease of installation, provide a cost-effective solution that we can offer to our customers," said Gino Van Neer, Chief Executive Officer of Enfinity. Enfinity, headquartered in Ghent, Belgium, has raised private equity funds for PV projects in Europe. It has already financed PV projects with a total capacity of more than 30MW and is planning to finance several hundred megawatts through 2010.

"We are pleased to have established this multi-year supply relationship with Enfinity, a leading investor in PV projects. Investors like Enfinity see the unique value proposition offered by our UNI-SOLAR products, particularly for roof-top systems where our product features provide a cost-effective PV solution. We look forward to working closely with Enfinity and its customers on the success of these roof-top projects," said Subhendu Guha, the President and Chief Operating Officer of United Solar Ovonic.

Unlike traditional crystalline technology, which typically uses heavy glass panels, UNI-SOLAR products are flexible, durable, lightweight and easy to install. Because of these characteristics, UNI-SOLAR triple-junction products offer the ideal solution for both grid-connected and off-grid solar electric systems. Independent studies in Europe and elsewhere have shown that triple-junction products deliver more energy per rated power than the conventional crystalline products.

About United Solar Ovonic

United Solar Ovonic, building on technology invented and pioneered by ECD, is the world leader in thin-film amorphous photovoltaics. Because of characteristics unique to the United Solar Ovonic solar cell technology, such as lightweight, ruggedness and flexibility, it is ideal as building-integrated photovoltaic roofing systems for residential and industrial customers. ECD and United Solar Ovonic hold the basic patents covering the continuous roll- to-roll manufacturing of thin-film amorphous-silicon alloy multi-junction solar cells and related products. More information is available at http://www.uni-solar.com/.

This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which ECD, as of the date of this release, believes to be reasonable and appropriate. ECD cautions, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K, could impact any forward- looking statements contained in this release.

United Solar Ovonic LLC

CONTACT: Ghazaleh Koefod - Investor Relations, Energy Conversion Devices,Inc., +1-248-293-0440, or Tracey Rettig - Corporate Communications Specialist,United Solar Ovonic LLC, +1-248-364-5781, or Enfinity International, Ghent -Belgium, +32 (9) 2451570, Fax - +32 (9) 2457233, info@enfinity.be

Web site: http://www.ovonic.com/http://www.uni-solar.com/http://www.enfinity.biz/

Source: PRNewswire

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