SAN DIEGO, Oct. 2, 2014 /PRNewswire/ -- Maxwell
Technologies, Inc. (NASDAQ: MXWL), a leading developer and
manufacturer of ultracapacitor-based energy storage and power
delivery solutions, today announced that it is a winner of the
Energy Storage North America (ESNA) Innovation Awards, which honor
energy storage projects in North
America that help solve the challenge of creating a stable
and dynamic electricity grid. Maxwell's project to provide
ultracapacitors to ABB, the global leader in power and automation
solutions, allows Philadelphia-area rail lines to be more energy
efficient. The project earned the ESNA Innovation Award in the
mobility project category.
Determined by a public vote and evaluation by the ESNA Advisory
Board, the ESNA Innovation Awards honor the companies unlocking the
potential of energy storage to address today's grid challenges.
Winning projects were determined based on customer value
proposition and project impact, grid services, financing model,
ownership model, safety and security, and technology.
"Energy storage is a game-changer for the electric power system,
and this year's ESNA Innovation Awards for outstanding projects
reflect that," said Janice Lin, managing partner of Strategen
Consulting and co-founder of the California Energy Storage
Alliance. "These are standout projects in terms of commercial
impact, customer value and technical performance, and
they underscore the value of storage for utilities, developers
and energy users."
In order to increase energy efficiency and gain revenues from
the sale of frequency regulation services to the grid while also
extending battery life, ABB incorporated Maxwell ultracapacitors
into its ENVILINE energy recovery and storage system in a
substation of the Southeast Pennsylvania Transit Authority's
(SEPTA) light-rail system. To date, the ENVILINE system, which also
includes Saft lithium-ion batteries and Viridity Energy's
management software, has reduced grid-supplied electrical energy
consumption by 10 to 20 percent, and more than $250,000 of yearly economic benefits have been
achieved through this improvement and the sale of services that
help the local electricity grid be more stable and efficient.
Dr. Kimberly McGrath, director of
business development at Maxwell Technologies, said, "The
recognition by ESNA for our deployment with ABB and SEPTA validates
the market opportunity for ultracapacitor-based grid services as
the trends of energy conservation, reduction of fuel consumption
and emissions, and a smart grid future gain considerable
momentum."
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
- Maxwell Technologies on Google+:
https://plus.google.com/+MaxwellTech/
- More information on ultracapacitors:
http://www.maxwell.com/ultracapacitors
About Maxwell: Maxwell 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 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 our
website: www.maxwell.com.
Maxwell Technologies Contacts:
Media: Sylvie Tse, Metis
Communications: +1 (617) 236-0500; maxwell@metiscomm.com
Investor: Michael Sund: +1 (858)
503-3233; msund@maxwell.com
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SOURCE Maxwell Technologies, Inc.