Maxwell Technologies' PowerCache Ultracapacitor Selected
5 January 1999
Consortium of Private and Public Organizations Selects Maxwell Technologies' PowerCache Ultracapacitor for Testing in Solectria Electric Vehicle
SAN DIEGO--(AutomotiveWire)--Jan. 5, 1999--Maxwell Technologies Inc. (NMS:MXWL) today announced that its PowerCache(TM) ultracapacitor will be tested in a prototype electric vehicle by EVermont, a consortium of public and private organizations developing advanced technology vehicles in the northeastern United States.
Project partners including Solectria Corp., an electric car manufacturer, the Vermont Department of Public Service and Green Mountain Power Corp., are providing services and materials, which constitute half of the $450,000 cost of the research project. The Defense Advanced Research Projects Agency (DARPA) is providing matching funds.
"This research project is another example of the worldwide interest in Maxwell's PowerCache ultracapacitor to enhance the performance and efficiency of electric and hybrid-electric vehicles," said Tom Horgan, interim chief executive officer of Maxwell Technologies.
Richard Watts, project director of EVermont, said, "We chose the Maxwell ultracapacitor for evaluation because we believe this product has exciting potential for use in electric vehicles." Watts said the project would contrast the performance of an electric vehicle with an identical vehicle outfitted with a PowerCache ultracapacitor module.
Added Mark McGough, president of Maxwell's Advanced Energy Products subsidiary, "These tests will demonstrate the ability of the ultracapacitor to prolong battery life, enable the recycling of energy from braking, and increase vehicle driving range. Major automotive manufacturers are evaluating ultracapacitors for their hybrid designs. The EVermont tests will provide an excellent additional forum with results available to the public."
Maxwell's PowerCache ultracapacitors are high-energy storage devices able to "cache" power for peak power requirements with applications in the automotive, power quality, telecommunications and consumer electronics markets. For more information, visit the Advanced Energy Products Web site at http://www.powerchache.com or call 877/762-9333. For information on Solectria cars visit http://www.solectria.com.
Maxwell Technologies is a leader in pulsed power technologies, providing pulsed power based systems and components for a wide range of commercial applications and research and development for both commercial customers and the U.S. government. The company's advanced technology solutions address diverse markets such as utilities, telecommunications, medical equipment and products, food processing and packaging and transportation. The company also offers industrial computers and subsystems, primarily to OEMs in computer telephony and other markets, and software products and services, both for government research and for various commercial applications.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including product development based on new technologies, applications and acceptance of new products in major markets, demand for the OEM's product reaching anticipated levels, the impact of competitive products and pricing, and other risks detailed from time-to-time in the company's SEC reports, including the report on Form 10-K for the year ended July 31, 1998. Actual results may differ materially from those projected. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.