Maxwell Technologies' Ultracapacitors Receive Chinese Government Certification for Energy Storage Applications in Vehicles

Approval Clears Way for Sale of BOOSTCAP Products in Rapidly Growing Chinese Transportation Market

SAN DIEGO, July 26, 2007 -- Maxwell Technologies Inc. announced today that its BOOSTCAP(R) ultracapacitor products have been certified by the official testing agency of the People's Republic of China for energy storage applications in vehicles. The certification protocol included testing for electrical, mechanical, thermal, safety and lifetime performance.

David Schramm, Maxwell's president and chief executive officer, said that the certification clears the way for Maxwell to market its BOOSTCAP(R) ultracapacitor products to any manufacturer producing autos, trucks, buses or rail vehicles for the rapidly growing Chinese market.

"It is our understanding that our BOOSTCAP products are the only ultracapacitors to have received this mandatory certification for transportation applications," Schramm said. "We have already supplied BOOSTCAP products to several electric and hybrid-electric drive train and vehicle OEMs for design and development work, so this approval, along with the fact that our large cells and multi-cell modules are now being assembled by Belton Technology Group, our contract manufacturing partner in Shenzhen, China, gives us a significant head start on competitors that are targeting the Chinese market."

Maxwell is a leading developer and manufacturer of innovative, cost- effective energy storage and power delivery solutions. Our BOOSTCAP(R) ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our CONDIS(R) high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation- mitigated microelectronic products include power modules, memory modules and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications. For more information, please visit http://www.maxwell.com/.