Company Estimates Over 13,000 Ultracapacitor-Equipped Turbines Now in Service Worldwide.

SAN DIEGO, PRNewswire-FirstCall [WorldofRenewables.com]

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Maxwell Technologies Inc. (Nasdaq: MXWL) reported today that sales of BOOSTCAP® ultracapacitor products for wind energy applications through the first three quarters of 2010 are running more than 40 percent ahead of wind-related sales in the same period last year, and estimates that more than 13,000 BOOSTCAP-equipped turbines are now in operation worldwide.

Maxwell now is supplying BOOSTCAP cells and multi-cell modules to several wind energy system integrators and turbine OEMs in Europe, Asia and North America.

Ultracapacitors provide burst power for electrical blade pitch control systems that enhance the consistency of wind turbines’ electrical energy output and ensure that rotor speed remains within a safe operating range by constantly adjusting turbine blades to compensate for changes in wind velocity. Ultracapacitors also provide an independent source of backup power for orderly shutdown in the event of a main system power failure and are used to smooth the flow of wind farms’ output to the electric utility grid.

An estimated 60 percent of newly produced wind turbines employ electrical blade pitch systems that incorporate ultracapacitors or batteries for pitch control and backup power. The remainder employ hydraulic systems that do not require ultracapacitors or batteries. Ultracapacitors have been designed into an increasing share of the electric pitch system portion of the market because of their longer operating lifetime, low maintenance requirements and superior cold weather performance compared with batteries.

“Wind turbine operators need systems that perform reliably for many years in all weather conditions with minimal maintenance,” said David Schramm, Maxwell’s president and chief executive officer. “BOOSTCAP products have demonstrated their durability and reliability at temperatures ranging from -40 to +65C, which enables electric pitch control systems to meet wind energy customers’ expectations under virtually any conditions.”

Industry sources report that approximately 38 gigawatts of new wind generator capacity was installed in 2009, bringing the total worldwide installed base to nearly 160 gigawatts. From 2005 through 2009, the industry maintained an annual growth rate of more than 30 percent, and it is projected to continue growing strongly through the balance of the decade.

Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Our BOOSTCAP® ultracapacitor cells and multi-cell modules 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, please visit http://www.maxwell.com.

Forward-Looking Statements – Statements in this news release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as:

  • development and acceptance of products based on new technologies;
  • demand for original equipment manufacturers’ products reaching anticipated levels;
  • general economic conditions in the markets served by the company’s products;
  • cost-effective manufacturing and the success of outsourced manufacturing;
  • the impact of competitive products and pricing;
  • risks and uncertainties involved in foreign operations, including the impact of currency fluctuations;
  • product liability or warranty claims in excess of reserves.

For further information regarding risks and uncertainties associated with Maxwell’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of our SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Maxwell’s investor relations department at (858) 503-3434 or at our investor relations website: http://www.maxwell.com/investors/sec-filing.asp. All information in this release is as of August 18, 2010. The company undertakes no duty to update any forward-looking statement to reflect actual results or changes in the company’s expectations.

SOURCE Maxwell Technologies Inc.

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