Maxwell Technologies

History

The company was founded in 1965 as Maxwell Laboratories Inc. by Raymond O'Rourke, Alan Kolb, Bruce Hayworth, and Terrence Gooding in San Diego, California. It was originally a government contractor, providing advanced physics, pulsed power, space effects analysis and other research and development services to the U.S. military and other government agencies.

The company began converting its focus to commercial applications for its technologies and products in the early 1990s, and by 2014, generated all of its revenue from commercial sources. In 1996, Maxwell Laboratories, Inc. changed its name to Maxwell Technologies, Inc.

Maxwell Energy Products, a division that included the Maxwell High Voltage Capacitor product line, was acquired in March 2000 by General Atomics, eventually merging into General Atomics Electronic Systems, Inc. in 2003.

In 2007, Maxwell Technologies won contract from Astrium Satellites to supply computers for European Space Agency’s ‘Gaia’ Astronomy mission. Maxwell supplied seven Maxwell SCS750 SBCs to process images and data gathered by the satellite's camera.

In November 2013, Maxwell opened a manufacturing facility in Peoria, Arizona. In December, the firm signed a memorandum of understanding (MOU) with SK Innovation to develop the next generation of electrical energy storage with Maxwell's ultracapacitors and SK's lithium-ion batteries.

In April 2016, Maxwell Technologies completed the sale of its microelectronics product line to Data Device Corporation. The following year, it acquired all assets, "core business and operating entities" of Nesscap Energy Inc. for $23.175 million.

In February 2019, electric vehicle and clean energy company Tesla, Inc. announced that it planned to acquire Maxwell Technologies. The deal closed on May 15, 2019, for . In July 2021, Tesla sold Maxwell Technologies branding and ultracapacitor business to a San Diego–based startup called Ucap Power, led by the former vice-president of sales for Maxwell, Gordon Schenk.

In November 2025, it was announced that the company had been sold to Clarios for an undisclosed amount.

References

References

1. "Maxwell Technologies Company Profile".
2. {{Webarchive. link. (2019-08-06“[http://www.maxwell.com/about_us/company-overview About Maxwell Technologies]” website, accessed 5 February 2014)
3. "The San Diego Union-Tribune - San Diego, California & National News".
4. [https://finance.yahoo.com/q/pr?s=mxwl “Business Summary”, Yahoo Finance – Maxwell Technologies (MXWL)], accessed 5 February 2014
5. “[http://www.prnewswire.com/news-releases/maxwell-technologies-wins-3-million-contract-from-astrium-satellites-to-supply-computers-for-european-space-agencys-gaia-astronomy-mission-58244857.html Maxwell Technologies Wins $3 Million Contract From Astrium Satellites to Supply Computers for European Space Agency's 'Gaia' Astronomy Mission]”
6. “[http://www.bizjournals.com/phoenix/news/2011/10/19/maxwell-technologies-creating-26m.html?page=all Maxwell Technologies creating $26M facility in Peoria]”, Phoenix Business Journal, accessed 6 February 2014
7. [http://chargedevs.com/newswire/maxwell-and-sk-to-jointly-develop-ultracapbattery-combo/]“[http://chargedevs.com/newswire/maxwell-and-sk-to-jointly-develop-ultracapbattery-combo/ Maxwell and SK to Jointly Develop Ultracap/Battery Combo]”, Charged Electric Vehicle Magazine, accessed 6 February 2014
8. “[http://www.prnewswire.com/news-releases/maxwell-technologies-completes-sale-of-microelectronics-product-line-to-data-device-corporation-for-21-million-300258534.html/ Maxwell Technologies Completes Sale of Microelectronics Product Line to Data Device Corporation for $21 Million], accessed 4 May 2016
9. SEC. "Maxwell Technologies Inc 2018 Annual Report 10-K".
10. "Maxwell Technologies to Acquire Nesscap Energy Business".
11. "Maxwell to Acquire Nesscap Energy for $23 Million - News".
12. (February 4, 2019). "Tesla Plans to Acquire Maxwell Technologies in Deal Valued at $218 Million".
13. Lambert, Fred. (February 4, 2019). "Tesla acquires ultracapacitor and battery manufacturer for over $200 million".
14. Tesla, Inc.. (May 16, 2019). "Tesla Completes Acquisition of Maxwell Technologies".
15. Kolodny, Lora. (2021-07-22). "Elon Musk says Tesla caused two-thirds of his personal and professional pain".
16. "Clarios acquires supercap firm Maxwell Technologies". Batteries International.