Global Companies Recognized as Leaders in the Clean Energy Revolution

NEW YORK (March 19, 2012) — Bloomberg New Energy Finance today announced Maxwell Technologies, Inc. (Nasdaq: MXWL), as a 2012 New Energy Pioneer. Now in its third year, the Bloomberg New Energy Finance Pioneer program named nine other companies at the fifth annual Bloomberg New Energy Finance Summit in New York.

"Maxwell Technologies is proud to be recognized as a New Energy Pioneer," said David Schramm, Maxwell's president and chief executive officer. "Through this program, Bloomberg is bringing public recognition to our company and its nearly 500 employees worldwide for our accomplishments in delivering energy storage products that are enabling advancements in renewable energy, fuel efficiency and environmental responsibility."

Unlike batteries, which produce and store energy by means of a chemical reaction, Maxwell's ultracapacitor products store energy in an electric field. This electrostatic energy storage mechanism enables ultracapacitors to charge and discharge in as little as fractions of a second, perform normally over a broad temperature range (-40 to +65C) and operate reliably for up to one million or more charge/discharge cycles.

The Bloomberg New Energy Finance Pioneers program identifies companies from around the world that are changing the energy landscape forever. An independent panel of industry experts from banking, academia, corporations, utilities and technology providers chose the honorees by assessing them against three criteria: potential scale, innovation and momentum.

This year's winners represent a broad range of industries including bioenergy, energy storage, electric vehicles, smart grid, solar and water. Each of the New Energy Pioneers have innovative, proven technologies, robust business models, the ability to demonstrate traction and momentum in their activities, and the potential for global scale. By rewarding game changing innovators, Bloomberg New Energy Finance hopes to highlight the speed of change in the sectors it serves, which play such an important role in the shift towards a low-carbon economy.

"It has been a tough year for the clean energy sector, with severe pressure on the profit margins of manufacturers, a sharp fall in share prices, some notable bankruptcies, cuts in European government subsidy support, and a reduction in the availability of bank finance," said Michael Liebreich, summit chairman and head of Bloomberg New Energy Finance. "Despite this, the quality and volume of applicants we received for the 2012 Pioneers program was higher than ever – a testimony to the strength of the forces driving the sector and to the sort of high-quality entrepreneurs which it has been attracting over the past few years. We congratulate this year's winners and look forward to tracking their progress."

Other 2012 winners include CleanPower Finance, Ecotality, Emefcy, Lanzatech, SilverSpring, Smarter Grid Solutions, Tendril, Va-Q-Tec and Xtreme Power.

The Bloomberg New Energy Finance Pioneers Program is sponsored by Ernst & Young.

About Maxwell: Maxwell is a leading developer and manufacturer 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, automotive, transportation and information technology. Our 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-hardened 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 our website: www.maxwell.com.

About New Energy Finance: Bloomberg New Energy Finance (BNEF) is the world's leading independent provider of news, data, research and analysis to decision makers in renewable energy, energy smart technologies, carbon markets, carbon capture and storage, and nuclear power. Bloomberg New Energy Finance has staff of more than 200, based in London, Washington D.C., New York, Tokyo, Beijing, New Delhi, Singapore, Hong Kong, Sydney, Cape Town, São Paulo and Zurich.

Bloomberg New Energy Finance serves leading investors, corporates and governments around the world. Its Insight Services provide deep market analysis on wind, solar, bioenergy, geothermal, carbon capture and storage, smart grid, energy efficiency, and nuclear power. The group also offers Insight Services for each of the major emerging carbon markets: European, Global Kyoto, Australia, and the U.S., where it covers the planned regional markets as well as potential federal initiatives and the voluntary carbon market. Bloomberg New Energy Finance's Industry Intelligence Service provides access to the world's most reliable and comprehensive database of investors and investments in clean energy and carbon. The News and Briefing Service is the leading global news service focusing on clean energy investment. The group also undertakes applied research on behalf of clients and runs senior level networking events.

New Energy Finance Limited was acquired by Bloomberg L.P. in December 2009, and its services and products are now owned and distributed by Bloomberg Finance L.P., except that Bloomberg L.P. and its subsidiaries (BLP) distribute these products in Argentina, Bermuda, China, India, Japan, and Korea. For more information on Bloomberg New Energy Finance: http://www.bnef.com.

About Bloomberg: Bloomberg is the world's most trusted source of information for financial professionals and businesses. Bloomberg combines innovative technology with unmatched analytics, data, news, and display and distribution capabilities, to deliver critical information via the Bloomberg Professional service and multimedia platforms. Bloomberg's media properties span television, radio, digital and print, making up one of the world's largest news organizations with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries.