Cobasys announced today that they will provide their advanced NiMHax® Nickel Metal Hydride (NiMH) battery systems for GM's 2007 Saturn VUE Green Line SUV which will be made available to consumers in the summer of 2006. [ more ]

Cobasys is a joint venture partnership between Energy Conversion Devices Inc (ENER) and Chevron Technology Ventures LLC, a subsidiary of Chevron Corporation (CVX)

ENER gapped up this morning on this news and has been trading nicely for the last couple of months. However, it has run into upside resistance at the 52 week high. The stock is currently over-bought and I would be a buyer of this stock below $40.