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Energy Conversion forms new subsidiary, Gates and Doors 2007-03-26 12:54 ET -

News Release

Mr. Ervin Weisz reports: ENERGY CONVERSION TECHNOLOGIES INC.: ANNOUNCES NEW SUBSIDIARY, GATES AND DOORS INC., TO FOCUS ON COMMERCIAL GATE AND DOOR OPERATOR MARKET

TORONTO, ONT., March 23, 2007: Ervin Weisz, President & CEO of Energy Conversion Technologies Inc. ("ECTI" or the "Company") is pleased to announce the formation of wholly owned subsidiary, Gates and Doors Inc. (GDI).

Gates and Doors Inc. has been formed to focus sales activity on manufacturers, distributors and dealers in the power operated door and gate industry. The "Gates and Doors'' products are the most advanced door and gate operators in the industry for cold storage, pharmaceutical, industrial and commercial door applications.

"Our goal is to become a leading manufacturer of electric operators in the industrial and commercial door and gate market. We are introducing a wide range of product configurations based on our core technology that has been proven over many years and many millions of cycles of reliable operation. Our new robotic automation assembly process gives us volume production capability at controlled costs to become a competitive force in this market," stated the Company's President, Ervin Weisz.

"Initial response from the commercial door market has been extremely positive. Now, it is our job to build on the high expectations that our products have created and grow our business presence in this market," he added.

ECTI manufactures electric gear-motor and controller systems based on its breakthrough technology that can reduce both capital and operating costs of motor systems. Relative to industry standard products, ECTI's motor system is smaller, generates higher performance and operates at higher efficiencies. ECTI's products are being sold to original equipment manufacturers in Canada and the United States.