SAN DIEGO, Jan. 31, 2017 /PRNewswire/ -- Maxwell
Technologies, Inc. (NASDAQ: MXWL), a leading developer and
manufacturer of capacitive energy storage and power delivery
solutions, today announced a definitive agreement with CRRC Qingdao
Sifang Rolling Stock Research Institute Co. Ltd. (CRRC-SRI) to
localize manufacturing of its ultracapacitor-based modules for use
in the China new energy bus
market. Under the terms of the agreement, localized production of
its ultracapacitor-based modules is expected to begin in
China in the second half of 2017,
coinciding with the peak buying season for China's new energy bus market. The production
of bus modules extends Maxwell's strategic partnership with
CRRC-SRI and will enable Maxwell to compete more effectively in the
China bus market moving
forward.
To ensure Maxwell products are fully localized in support of
recent China government
requirements, Maxwell has licensed its module designs targeting the
China bus market to CRRC-SRI, who
will exclusively use Maxwell's 2.7-volt and 3-volt ultracapacitor
cells in local production lines to manufacture the modules. In
addition, Maxwell will continue to leverage its long-standing
expertise in the China bus market
to jointly design additional, next-generation products, which
CRRC-SRI will manufacture in the years to come.
"As our local new energy transportation market continues to
grow, it's imperative for both manufacturers and sellers of these
critical technologies to invest in the right solutions to improve
energy efficiency, preserve the environment and lay the foundation
for tomorrow's industry," said Liu Baoming, chairman of CRRC-SRI.
"With this next step to localize Maxwell's products for the new
energy bus market in China, we are
proud to deepen our relationship with Maxwell Technologies, the
market leader for ultracapacitors."
Dr. Franz Fink, president and CEO
of Maxwell Technologies, said, "Since Maxwell's partnership with
CRRC-SRI began, we've shared a focus on environmental preservation,
forward-thinking technology and user efficiency. Collaborating on
localization initiatives for ultracapacitor production greatly
extends our reach into the China
bus market while increasing the number of users that can benefit
from next-generation energy storage solutions. Moving forward, the
Maxwell and CRRC-SRI sales teams will collaborate to deliver
existing and new customers the best experience possible, while our
product development teams continue to work on next-generation,
fully optimized solutions for this market."
Additional Maxwell Technologies information:
- Maxwell Technologies' rail
solutions: http://bit.ly/2jmyvyT
- Maxwell Technologies' bus solutions: http://bit.ly/1FS8KhC
- Maxwell Technologies on
LinkedIn: http://linkd.in/Z4737Y
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. For
more information, please visit our website: www.maxwell.com.
For more information, contact:
Media:
Sylvie Tse, Metis Communications: +1
(617) 236-0500, maxwell@metiscomm.com
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SOURCE Maxwell Technologies, Inc.