Cobasys

Cobasys LLC is an American automotive technology corporation. It supplies nickel metal hydride (NiMH) batteries, battery control systems, and packaged solutions for automotive applications, uninterruptible power supplies, telecommunications applications, and distributed power generation. For 8 years ending in 2009, Cobasys was a 50-50 joint venture between California-based Chevron Corporation and Michigan-based Energy Conversion Devices, Inc. The intermediary hierarchy of ownership was that Cobasys LLC was owned by Chevron's subsidiary Chevron Technology Ventures LLC, and ECD Ovonics' subsidiary Ovonic Battery Company. Cobasys spent $180 million in funding from Chevron Technology Ventures, and the two owners were unable to agree on further funding of the company. After arbitration between the owners had stalled, a buyer was found.