Subj: Maxwell Technologies Receives PowerCache Ultracapacitor...
Date: 98-05-21 14:33:38 EDT
From: AOL News
BCC: JerryCo
Maxwell Technologies Receives PowerCache Ultracapacitor Order From Honda
SAN DIEGO--(AutomotiveWire)--May 21, 1998--Maxwell Technologies Inc. (NMS:MXWL) announced today that its Energy Products subsidiary has successfully completed an ultracapacitor development contract with Honda R&D Co. Ltd., a subsidiary of the Honda Motor Company, and has received a follow-on order that brings the total program to more than $700,000. Honda will use the PowerCache ultracapacitor modules in portable industrial equipment.
"This is a significant ultracapacitor achievement for Maxwell," said Gregg McKee, president of Maxwell Energy Products. "It represents an opportunity to show the usefulness of the PowerCache ultracapacitor beyond its original applications in utilities, telecommunications and automotive markets. The development contract concluded with the on-time delivery of 75-volt modules that met and, in some instances, exceeded the customer's performance expectations. Based on this success, Honda placed a production order for additional modules to be delivered in the near future.
"With this program, Maxwell continues to demonstrate its market leadership in ultracapacitors and in their use in high voltage modules. Using the small PC0323, 100-farad, 50-gram ultracapacitor, Maxwell connected 33 of the 2.3-volt cells in series to create a 75-volt module. This module weighs less than 5 pounds and delivers power pulses of up to 2,000 watts for mechanical leveraging. The new PowerCache module is in addition to a suite of high voltage modules which include 14, 28 and 56 volt systems."
Added McKee, "The PowerCache ultracapacitor is a new concept in energy storage. The units operate with substantially more power than traditional batteries and greater energy storage than capacitors. Production units are being built at Maxwell's San Diego facility and are marketed worldwide for use in power quality, hybrid electric vehicle, consumer electronics and other applications. They provide a cache of power that would generally be unavailable from traditional portable sources and can be arrayed in series from 2 to several hundred volts."
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, risks and uncertainties involved in foreign operations, and other risks detailed from time-to-time in the Company's Securities and Exchange Commission reports, including the report on Form 10-K for the year ended July 31, 1997.
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.
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CONTACT:
Maxwell Technologies Inc.
Tracy Perry, 619/576-7547
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