DARPA Awards $1.7 Million Contract to Maxwell Technologies for Development of Advanced Energy Storage Device

SAN DIEGO, Jan. 5, 2011 /PRNewswire/ -- Maxwell Technologies, Inc. (Nasdaq: MXWL) announced today that it has been awarded a $1.7 million technology development contract by the Defense Advanced Research Projects Agency (DARPA) for the initial phase of a multi-phase program to develop a lighter, longer-lasting, energy source for field radios and other portable electronic equipment carried by military personnel.

Maxwell will lead a team including the U.S. Navy and the University of Massachusetts that is tasked with developing an energy storage device combining an advanced capacitor module, an advanced battery pack and power management electronics. The goal of the program is to develop an enhanced energy source that will provide extended run time and longer operational life than existing batteries alone, thereby reducing the requirement to carry heavy, bulky, spare batteries. To ensure that field military personnel are energy self-sufficient during extended missions, they typically carry primary and spare batteries weighing more than 60 pounds to power a growing assortment of portable electronic equipment.

"This is an exciting opportunity to leverage Maxwell's energy storage technology expertise and development resources with external funding and other team members' resources and expertise to accelerate development of very promising next generation energy storage technology," said David Schramm, Maxwell's president and chief executive officer.  "This program will further demonstrate the synergy between batteries and ultracapacitors, and, more importantly, lead to improved energy storage solutions to support the effectiveness and safety of our armed forces personnel."

The award provides funding for an initial, one-year phase, with options for two additional phases which, when approved, would result in total funding of up to approximately $8 million.

About DARPA: DARPA is the research and development office for the U.S. Department of Defense.  DARPA's mission is to maintain technological superiority of the U.S. military and prevent technological surprise from harming our national security by sponsoring revolutionary, high-payoff research bridging the gap between fundamental discoveries and their military use.  We also create technological surprise for our adversaries.

About Maxwell: 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.

Disclaimer:  "The views expressed are those of the author and do not reflect the official policy or position of the Department of Defense or the U.S. Government."

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SOURCE Maxwell Technologies, Inc.