MILTON, Ga., and SAN DIEGO, Calif., Nov. 13, 2012 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE), a global leader in stored electrical energy solutions, and Maxwell Technologies, Inc. (Nasdaq:MXWL), a leading developer and manufacturer of ultracapacitor products, today announced the formation of a strategic alliance. The two companies will work together in the development and marketing of advanced, integrated, battery-ultracapacitor energy storage solutions to be used in a wide array of transportation and industrial applications.
Visitors to The Battery Show in Novi, MI, Nov. 13-15, 2012, are invited to visit Exide Technologies (booth #B850) and Maxwell Technologies (booth #B520) to see the first of these products.
Principal elements of the strategic alliance include:
- Joint identification and evaluation of market opportunities for integrated products;
- Collaborative product development and testing; and
- Joint calls on prospective customers to establish demonstration projects.
"The integrated products developed through our alliance with Maxwell Technologies will provide a wide range of benefits for users who require the most that today's battery technology has to offer," said Paul Cheeseman, Exide's Vice President, Global Engineering and Research. "These benefits will include high energy density, rapid charging and discharging, extended operational life and superior performance in extreme temperatures."
Exide is the only battery company to provide product offerings across a range of applications in both the transportation and industrial markets. With its AGM (Absorbent Glass Mat) technology that allows for deep cycling combined with high charge acceptance, Exide supports Start-Stop vehicles, energy recuperation, intelligent charging and other advanced power train features to reduce CO2 emissions and fuel consumption.
"Exide's battery technology leadership, extensive manufacturing capabilities, established global distribution channels and strong existing industrial and transportation customer relationships make it an ideal alliance partner," said David Schramm, Maxwell's president and chief executive officer. "We have always believed in the synergistic nature of ultracapacitors and batteries, and this relationship will enable us to significantly accelerate development of products embodying the benefits of both technologies."
Maxwell's ultracapacitor products store energy in an electric field, which is unlike batteries that produce and store energy by means of a chemical reaction. 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 to +65C), and operate reliably for one million or more charge/discharge cycles. Maxwell offers ultracapacitor cells ranging in capacitance from one to 3,000 farads and multi-cell modules ranging from 16 to 125 volts.
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups – Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World – provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
Further information about Exide, including its financial results, are available at www.exide.com
The Exide Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5067
About Maxwell Technologies
Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Its ultracapacitor products provide safe and reliable power solutions for applications in consumer and industrial electronics, automotive, transportation and information technology. Its high-voltage capacitors products help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Its 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 www.maxwell.com
CONTACT: MEDIA CONTACTS: Susan Jaramillo Vice President, Communications Exide Technologies 203/699-9133 phone firstname.lastname@example.org Michael Sund Maxwell Technologies (858) 503-3233 phone email@example.com INVESTOR CONTACT Carol Knies Sr. Director, Investor Relations Exide Technologies 678/566-9316 phone firstname.lastname@example.org