SAN DIEGO, Oct. 20 /PRNewswire/ -- Maxwell Technologies Inc. (Nasdaq: MXWL) announced today that it is delivering production-level quantities of BOOSTCAP® ultracapacitors to Continental AG, one of the world's leading automotive electronics and mechatronics suppliers, for Continental's "E-booster" voltage stabilization system for micro hybrid automobiles.
PSA Peugeot-Citroen announced recently that Citroen C5 and C4 diesel models featuring PSA's e-HDi second generation micro hybrid system, which incorporates Continental's E-booster, is available in current models, and that it plans to equip a significant percentage of its diesel autos with the new system by 2012. PSA estimates that e-HDi micro hybrid diesel autos will realize fuel savings of up to 15 percent in city driving, helping the new cars to comply with the European Union-mandated carbon dioxide emission threshold of 130 grams of CO2 per kilometer.
"This ultra-modern technology is designed for high cycle reliability, long life, and real convenience for motorists. It is emblematic of Continental's years of experience developing hybrid systems and also of our desire to do our part to increase mileage while lowering CO2 emissions," says Bernd Neitzel, head of Continental's Powertrain Hybrid & Electric Vehicle business unit.
"This design win for a high-volume automotive application is another very significant milestone for Maxwell," said David Schramm, Maxwell's president and chief executive officer. "Continental is currently the only manufacturer of such a system, making it a global leader in stabilizing on-board electrical systems."
Micro hybrid stop-start systems reduce fuel consumption and emissions by shutting off a car's internal combustion engine as the vehicle slows and seamlessly restarting the engine when the driver engages the clutch or touches the accelerator. The ultracapacitor-based E-booster provides burst power to re-start the engine, relieving the car's battery of high current, repetitive cycling that can shorten battery life. It also provides a reservoir of power to guarantee that restarting the engine doesn't drain power away from other devices such as the radio, headlights and other comfort and safety features.
"We continue to focus on penetrating the large and strategically important automotive and transportation markets by aligning ourselves with industry leaders such as Continental and continuously strengthening our design, engineering and production capabilities," Schramm said.
Maxwell Technologies 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, automotive, 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 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;
- disruption of global financial markets and reduced credit availability;
- demand for original equipment manufacturers' products reaching anticipated levels;
- general economic conditions in the markets served by the company's products;
- cost-effective manufacturing of and the success of outsourced product assembly;
- 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 our 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 Maxwell's SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of these documents may be obtained by contacting our investor relations department at (858) 503-3434 or at our investor relations website at http://www.maxwell.com/investors/sec-filing.asp. All information in this release is as of October 20, 2010. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
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SOURCE Maxwell Technologies Inc.