UCAP Power acquires Maxwell brand, Maxwell Technologies Korea business
UCAP Power, Inc., a leading developer of ultracapacitor-based power solutions, has acquired Maxwell Technologies Korea, the Korean-based ultracapacitor business, as well as other related assets including the Maxwell brand.
With the addition of these assets, which include system patents and products, UCAP Power is building upon its foundation of success in driving innovation across the energy storage market, most recently exemplified by the launch of the company’s POWERBLoK™ battery replacement solution. POWERBLoK’s unique customer-friendly design incorporates integrated charging and control to offer a scalable, long-life, safe sustainable alternative to lead-acid batteries, UCAP said in a statement.
“We’re thrilled to combine Maxwell Technologies Korea’s ultracapacitor manufacturing capabilities and one of the largest patent and product portfolios in the industry with the growing family of products developed by UCAP Power,” said Gordon Schenk, CEO of UCAP Power. "This combination creates a clear market leader in the wind turbines, reserve power, automotive transportation, and microgrid application markets."
UCAP Power is focused on further growing the market for ultracapacitor based solutions in three main areas, including systems and application expertise; intelligent electronics integration; and advanced chemistry and processes, the company said.
“We believe the combination of these three elements will better enable our customers to design, develop and deliver many promising energy storage solutions as we move forward into a more fully electrified world,” said Schenk. “With market opportunities valued at more than USD 7 Billion annually by 20271, our team is ready for the challenge, and we look forward to announcing new and industry leading product updates as we continue to grow.”