SAN DIEGO, Oct. 23, 2014 /PRNewswire/ -- Maxwell
Technologies Incorporated (NASDAQ: MXWL) today announced a joint
development agreement with Corning Incorporated (NYSE: GLW) with
the goal of advancing the state of capacitive energy storage
technology by addressing the challenges frequently cited by
ultracapacitor customers, including energy density, lifetime,
operating environment, form factor and cost.
The unique benefits Corning and Maxwell bring to this
opportunity will create a compelling collaboration in the energy
storage industry. Maxwell's expertise in ultracapacitor cell
design, manufacturing processes and market-leading capacitive
energy storage product designs combined with Corning's expertise in
high-performance materials, analytical capabilities and technology
innovations should enable the two parties, working in
collaboration, to ultimately achieve superior product value for
customers and end users. Corning's long history of serving the
transportation industry with emissions control products for the
automotive and heavy-duty truck markets will complement Maxwell's
growing presence in providing energy storage solutions for these
application spaces.
"Corning has invested significant time and resources to
establish this new business initiative because we see great
potential in capacitive energy storage. We are excited to work with
a company like Maxwell who has such a long history of innovation in
the field and strong market presence. Our agreement brings us
together to accelerate the pace of innovation," said Doug Harshbarger, business director of emerging
automotive innovations at Corning Incorporated.
"Joining forces with a company of Corning's quality and strength
promises to be a game-changing event for Maxwell," said Dr.
Franz Fink, Maxwell's president and
chief executive officer. "We believe that this alliance will create
tremendous value for customers and will move the competitive bar
much higher in the years ahead."
Unlike batteries, which produce and store energy by means of a
chemical reaction, ultracapacitors store energy in an electric
field. This electrostatic energy storage mechanism enables
ultracapacitors to charge and discharge in as little as fractions
of a second, perform normally over a broad temperature range (-40°C
to +65°C), operate reliably through one million or more
charge/discharge cycles and resist shock and vibration. Maxwell
offers ultracapacitor cells ranging in capacitance from one to
3,400 farads and multi-cell modules ranging from 12 to 160
volts.
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 Technologies
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.
About Corning Incorporated
Corning Incorporated
(www.corning.com) is the world leader in specialty glass and
ceramics. Drawing on more than 160 years of materials science and
process engineering knowledge, Corning creates and makes keystone
components that enable high-technology systems for consumer
electronics, mobile emissions control, telecommunications and life
sciences. Our products include glass substrates for LCD
televisions, computer monitors and laptops; ceramic substrates and
filters for mobile emission control systems; optical fiber, cable,
hardware & equipment for telecommunications networks; optical
biosensors for drug discovery; and other advanced optics and
specialty glass solutions for a number of industries including
semiconductor, aerospace, defense, astronomy, and metrology.
Maxwell
Technologies Contacts:
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Media Relations
Contact:
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Investor Relations
Contact:
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Sylvie Tse, Metis
Communications
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Michael
Sund
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617-236-0500
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858-503-3233
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maxwell@metiscomm.com
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msund@maxwell.com
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Corning
Contacts
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Media Relations
Contact:
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Additional
Contact:
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Pamela W. Porter
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Ann S.
Nicholson
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607-974-9980
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607-974-6716
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porterpw@corning.com
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nicholsoas@corning.com
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SOURCE Maxwell Technologies