Department of Energy Funded Program Supports Energy Storage Technology Innovation

SAN DIEGO, Nov. 6, 2014 -- Maxwell Technologies, Inc. (Nasdaq: MXWL) announced today that it has been awarded a $2.68 million cost-shared technology development contract by the United States Advanced Battery Consortium LLC (USABC) to develop a high-performance hybrid ultracapacitor/lithium-ion battery for stop-start idle-elimination microhybrid autos.

USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR), the collaborative automotive technology organization for Chrysler Group LLC, Ford Motor Company and General Motors. With funding provided by the U.S. Department of Energy, USABC's mission is to develop electrochemical energy storage technologies that support commercialization of electric, hybrid-electric and fuel cell vehicles.

Maxwell, which will provide 51 percent of the program funding, is tasked with demonstrating the technological and economic feasibility of a 12-volt hybrid energy storage system consisting of lithium-ion batteries and Maxwell ultracapacitors that can meet stop-start auto performance specifications established by USABC. Of particular interest are ultracapacitors' high power density, long operational lifetime, low-temperature performance and influence on battery performance and lifetime.

Unlike batteries, which produce and store energy by means of a chemical reaction, ultracapacitors 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°C to +65°C), operate reliably through one million or more charge/discharge cycles and resist shock and vibration.

"High-performance, low-cost energy storage systems will be instrumental in meeting growing worldwide demand for more fuel-efficient, lower-emission vehicles," said Dr. Franz Fink, Maxwell's president and chief executive officer. "The hybrid battery this program aims to create could be instrumental in strengthening U.S. automakers' competitive position within a global auto industry that annually produces more than 60 million cars."

Additional Maxwell Technologies information:

*Maxwell Technologies on Twitter: https://twitter.com/Maxwell_Tech
*Maxwell Technologies on Facebook: http://on.fb.me/10e2nPA
*Maxwell Technologies on LinkedIn: http://linkd.in/Z4737Y
*Maxwell Technologies on Google+: https://plus.google.com/+MaxwellTech/
*More information on ultracapacitors: http://www.maxwell.com/ultracapacitors

About Maxwell: Maxwell 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 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 our website: www.maxwell.com.

About USABC: USABC is a subsidiary of USCAR. Enabled by a cooperative agreement with the U.S. Department of Energy, USABC's mission is to develop electrochemical energy storage technologies that support commercialization of electric, hybrid electric and fuel cell vehicles.

About USCAR: Founded in 1992, USCAR is the collaborative automotive technology organization for Chrysler Group LLC, Ford Motor Company and General Motors. The goal of USCAR is to further strengthen the technology base of the domestic auto industry through cooperative research and development. For more information, visit USCAR's website at www.uscar.org.

About DOE: The U.S. Department of Energy's overarching mission is to advance the national, economic and energy security of the United States. DOE's Vehicle Technologies Program works with industry academia and national laboratories to develop advanced transportation technologies that reduce the nation's use of imported oil and increase our energy security. Electrochemical energy storage has been identified as a critical enabling technology for advanced, fuel-efficient, light and heavy duty vehicles.