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Energy Conversion Devices (NASDAQ:ENER) has its hand in many energy pots -- and they’re green ones. Solidly in the center of the alternative energy and information tech fields, the company is involved in every stage of the game, from invention, to engineering, to development, to commercialization of materials, products, and production technology. For clarification, the company is also known as ECD Ovonics and I will refer to it as ECD in this write-up.

I like ECD's emphasis on production of proprietary materials and products in the clean tech field. Further, it is heavy into the field of Photovoltaics, which provides clean energy by converting sunlight into electricity. In the beginning of July, the company announced that their subsidiary, United Solar Ovonic, had signed multi-year cooperative agreements with Spazio Energia and Sunerg Solar of Italy to supply a total of 46 MW of photovoltaic [PV] laminates.

Unlike traditional crystalline technology, which typically uses heavy glass panels, UNI-SOLAR products are flexible, durable, lightweight, and easy to install, and thus are much more efficient for both grid-connected and off-grid solar electric systems. ECD's Italian deal may pave the way for more countries in the sun-drenched Mediterranean to adopt its energy efficient technology.

Stanford Ovshinsky, President and Chief Scientist and Technologist of ECD, established the company in 1960 to solve societal woes through innovative technology. He held true to his visions and much of his techonology has bolstered the fields of optical media, hydrogen and transportation. Among his inventions is Nickel Metal Hydride [NiMH] batteries that power many of today’s hybrid cars. Through its joint venture with Chevron Technology Ventures, ECD provides nickel metal hydride batteries for many applications, from transportation to telecommunication to homeland security, among other prismatic battery applications.

Like so many of the energy stocks in the last few months, Energy Conversion Devices, Inc. has taken a hit. But I smell opportunity. It is one of the bigger companies in the group I have been blogging about, with a market cap of over $1.3 billion, which means it is less risky than some of these smaller green tech companies. Just how big is ECD? Big enough to get a mention in Sony Pictures Classics’ film about electronic cars. Founded over 45 years ago, this is a stable company that is has a real chance for an upside.

Type of stock:
A big cap alternative energy company, Energy Conversion has been around since 1960. It is a solid company that has taken a hit with other energy stocks, having been as high as $57 this year, and now trading in the low $30 range.

Source: Energy Conversion Devices: Green and Stable