Exide Technologies Allies With Maxwell Technologies Firms to Develop
Integrated, Portable Energy Systems Pairing Advanced Lead-Acid Batteries and
Ultracapacitors
PRINCETON, N.J., May 17, 2001 /PRNewswire via COMTEX/ -- Exide Technologies
(NYSE: EX), the global leader in stored electrical energy solutions, has signed
a multi-year development and supply agreement with Maxwell Technologies, Inc.
(Nasdaq: MXWL) to develop and market advanced, integrated stored energy systems
for military, commercial and certain types of passenger vehicles. This strategic
collaboration positions both companies to be the first to market with
affordable, portable battery/ultracapacitor solutions for these markets.
San Diego-based Maxwell Technologies, Inc. develops, manufactures and markets
high-reliability electronic components and power and computing systems. The
partnership will produce high-tech battery/ultracapacitor systems that
incorporate Exide Technologies' high-performance, spiral-wound Exide Select
Orbital(R) batteries and Maxwell's PowerCache(R) Ultracapacitors. Applications
will include cold-starting and 42-volt systems for hybrid
internal-combustion/electric vehicles; commercial medium- and heavy-duty trucks;
and military ground, surface and sub-surface vehicles.
The PowerCache(R) Ultracapacitor is a new energy storage and power-delivery
device. The Exide Select Orbital(R) battery is an outstanding high-energy
device. The combination of the two creates a long-life energy system with both
high-power and high-energy performance under a very wide set of operational
conditions and temperatures. This includes low-temperature truck starting,
regenerative braking and high-demand military applications.
While Exide Technologies manufactures a range of battery chemistries, lead-acid
is the chemistry of choice for this system because of its low cost, high
recycling rate and excellent reliability. The battery/ultracapacitor system will
deliver superior cycle life at high currents and in extreme high and low
temperatures.
"Our partnership with Exide Technologies is an excellent fit on a number of
levels," said Carl Eibl, President and Chief Executive Officer of Maxwell
Technologies, Inc. "The PowerCache(R) Ultracapacitor is a proven, well-known
power source. When paired with the high-performance Exide Select Orbital(R) --
the only original-equipment-approved spiral-wound battery -- the result is the
most affordable, highest quality stored energy system available for hybrid and
electric vehicles both today and in the future."
Ultracapacitors deliver up to 100 times the energy of a conventional capacitor
and deliver 10 times the power of ordinary batteries. They extend the life of
on-board battery systems by efficiently recapturing energy from braking and
releasing the energy in high-power bursts for acceleration during hundreds of
thousands of discharge/recharge cycles.
The Exide Select Orbital(R) features a highly efficient design and construction
of tightly wound plates that provide unparalleled power among conventional
automotive batteries. It can hold a charge for long periods of non-use; it is
extremely resistant to vibration, heat and cold; and offers greater safety
because it contains no free liquid electrolyte and does not produce gas. The
battery can be mounted in virtually any position in any location, offering
vehicle manufacturers maximum design flexibility.
"Our partnership with Maxwell underscores the significance of the word
'technologies' in our company's name," said Craig Muhlhauser, President and
Chief Operating Officer of Exide Technologies. "Our alliance allows Exide
Technologies to demonstrate our innovation in high-technology energy storage
solutions, as well as to enter an all-new growth segment. The
battery/ultracapacitor power system will have far-reaching applications in the
future, opening new opportunities in the marketplace at an affordable cost, with
significant energy savings and improved vehicle performance."
Editor's Note:
Exide Technologies is the global leader in providing electrical energy storage
solutions. The company has annualized revenues of approximately $3 billion and
has operations in 89 countries, serving the industrial and transportation
markets.
Industrial applications include network-power batteries for telecommunications
systems, fuel-cell load leveling, electric utilities, railroads, photovoltaic
(solar-power related) and uninterruptible power supply (UPS) markets; and
motive-power batteries for a broad range of equipment uses, including lift
trucks, mining vehicles and commercial vehicles.
Transportation uses include automotive, heavy-duty truck, agricultural, marine
and other batteries, as well as new technologies being developed for hybrid
vehicles and new 42-volt automotive applications. The company supplies both
aftermarket and original-equipment transportation customers.
Further information about Exide Technologies, its financial results and other
information can be found at www.exide.com.
Maxwell Technologies applies industry-leading capabilities in power and
computing to develop and commercialize electronic components and power and
computing systems for customers in multiple industries, including
transportation, telecommunications, consumer and industrial electronics, medical
and aerospace. Maxwell's Electronic Components Group designs, develops and
manufactures a family of large and small cell ultracapacitors.
Exide media contact: Tim Yost, 734-827-3282; tyost@exideworld.com
Exide investor contact: Thomas J. Smith, 609-919-4946;
tsmith@exideworld.com
Maxwell media/investor contact: Michael Sund, 858-503-5171;
msund@maxwell.com
Certain statements in this press release may constitute forward-looking
statements as defined by the Securities Litigation Reform Act of 1995. As such,
they involve known and unknown risks, uncertainties and other factors that may
cause the actual results of the companies to be materially different from any
results expressed or implied by such forward-looking statements. These are
enumerated in further detail in the companies' Form 10-K.
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE Exide Technologies; Maxwell Technologies, Inc. |
