SAN DIEGO, Dec. 12, 2013 /PRNewswire/ -- Maxwell
Technologies, Inc. (Nasdaq: MXWL), a leading developer and
manufacturer of ultracapacitor-based energy storage products,
announced today that it has signed a Memorandum of Understanding
with SK Innovation, a subsidiary of SK Holdings and Korea's leading
energy provider, to develop next generation energy storage
solutions leveraging the complementary characteristics of SK's
lithium ion batteries and Maxwell's ultracapacitors.
(Logo:
http://photos.prnewswire.com/prnh/20121018/LA91771LOGO)
The two companies will explore and identify global commercial
opportunities for products that enable enhanced functionality and
improve energy efficiency in industrial, transportation and other
markets. Lithium ion batteries are characterized by their high
energy density, while ultracapacitors offer rapid charge and
discharge capabilities, reliable performance in extreme temperature
conditions and long operational life.
"As our name implies, we are seeking to move beyond the
limitations of existing technologies to develop and deliver
products that better meet the requirements of the most demanding
energy storage and power delivery applications," said Stephen J. Kim of SK Innovation's battery
division. "Our goal is to develop truly differentiated products
that will create large new opportunities for both companies."
"While our respective products currently meet the needs of many
applications as stand-alone solutions, Maxwell has always believed
that ultracapacitors and batteries can be integrated to provide
optimized products that offer the best of both worlds in terms of
energy and power," said David
Schramm, Maxwell's president and chief executive officer.
"We are very pleased to have found a major lithium-ion battery
producer in SK Innovation that is willing to invest in joint
product and market exploration."
About SK Innovation: SK Innovation is a global leader in
integrated energy and lithium-ion battery technologies. It is a
subsidiary of SK Holdings, a member of SK Group, which has more
than 70,000 employees in 113 offices worldwide and is ranked
57th in the 2013 Fortune Global 500. For more
information, please visit www.sk.com.
About Maxwell Technologies: Maxwell Technologies is a
global leader in the development and manufacture of innovative,
cost-effective energy storage and power delivery solutions. Our
ultracapacitor products provide safe and reliable power solutions
for applications in consumer and industrial electronics,
transportation and telecommunications. Our CONDIS® 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, visit www.maxwell.com
Additional Maxwell Technologies information:
- Maxwell Technologies on Twitter:
https://twitter.com/Maxwell_Tech
- Maxwell Technologies on Facebook: http://on.fb.me/10e2nPA
- Maxwell Technologies on LinkedIn: http://linkd.in/Z4737Y
- Upcoming events: http://bit.ly/ZMZaEK
Maxwell Technologies Contacts:
Media:
Rachel Sullivan, Metis
Communications: +1 (617) 236-0500; maxwell@metiscomm.com
Investor: Michael Sund:
+1 (858) 503-3233; msund@maxwell.com
SK Innovation Contact: Stephen J.
Kim: stephen.kim@sk.com
SOURCE Maxwell Technologies, Inc.