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Maxwell Technologies, SK Innovation Form Strategic Alliance to Develop Integrated Lithium Ion Battery-Ultracapacitor Energy

    Maxwell Technologies, SK Innovation Form Strategic Alliance to Develop
    Integrated Lithium Ion Battery-Ultracapacitor Energy Storage Solutions

Companies to Target Applications in Transportation, Industrial and Other
Markets Globally

PR Newswire

SAN DIEGO, Dec. 12, 2013

SAN DIEGO, Dec. 12, 2013 /PRNewswire/ --Maxwell Technologies, Inc. (Nasdaq:
MXWL), a leading developer and manufacturer of ultracapacitor-based energy
storage products, announced today that it has signed a Memorandum of
Understanding with SK Innovation, a subsidiary of SK Holdings and Korea's
leading energy provider, to develop next generation energy storage solutions
leveraging the complementary characteristics of SK's lithium ion batteries and
Maxwell's ultracapacitors.

(Logo: http://photos.prnewswire.com/prnh/20121018/LA91771LOGO)

The two companies will explore and identify global commercial opportunities
for products that enable enhanced functionality and improve energy efficiency
in industrial, transportation and other markets. Lithium ion batteries are
characterized by their high energy density, while ultracapacitors offer rapid
charge and discharge capabilities, reliable performance in extreme temperature
conditions and long operational life.

"As our name implies, we are seeking to move beyond the limitations of
existing technologies to develop and deliver products that better meet the
requirements of the most demanding energy storage and power delivery
applications," said Stephen J. Kim of SK Innovation's battery division. "Our
goal is to develop truly differentiated products that will create large new
opportunities for both companies."

"While our respective products currently meet the needs of many applications
as stand-alone solutions, Maxwell has always believed that ultracapacitors and
batteries can be integrated to provide optimized products that offer the best
of both worlds in terms of energy and power," said David Schramm, Maxwell's
president and chief executive officer. "We are very pleased to have found a
major lithium-ion battery producer in SK Innovation that is willing to invest
in joint product and market exploration."

About SK Innovation: SK Innovation is a global leader in integrated energy and
lithium-ion battery technologies. It is a subsidiary of SK Holdings, a member
of SK Group, which has more than 70,000 employees in 113 offices worldwide and
is ranked 57^th in the 2013 Fortune Global 500. For more information, please
visit www.sk.com. 

About Maxwell Technologies: Maxwell Technologies 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 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, visit www.maxwell.com

Additional Maxwell Technologies information:

  oMaxwell Technologies on Twitter: https://twitter.com/Maxwell_Tech
  oMaxwell Technologies on Facebook: http://on.fb.me/10e2nPA
  oMaxwell Technologies on LinkedIn: http://linkd.in/Z4737Y
  oUpcoming events: http://bit.ly/ZMZaEK

Maxwell Technologies Contacts:
Media: Rachel Sullivan, Metis Communications: +1 (617) 236-0500;
maxwell@metiscomm.com
Investor: Michael Sund: +1 (858) 503-3233; msund@maxwell.com

SK Innovation Contact: Stephen J. Kim: stephen.kim@sk.com

SOURCE Maxwell Technologies, Inc.

Website: http://www.maxwell.com
 
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