Maxwell Technologies
| Company type | Public |
|---|---|
| Industry | Energy storage, power delivery |
| Founded | 1965 in San Diego, California, United States |
| Founder | Raymond C. O'Rourke, Alan Kolb, Bruce Hayworth, Terrence C. Gooding |
| Headquarters | San Diego , United States |
Area served | Automotive, heavy transportation, renewable energy, backup power systems, wireless communication, industrial electronics |
| Products | Energy storage and power delivery solutions, ultracapacitors |
| Parent | Tesla, Inc. (2019–2021) |
Maxwell Technologies Inc. is a U.S.-based company located in San Diego, California, that designs and produces energy storage and power delivery solutions. Its products serve sectors such as automotive, heavy transportation, renewable energy, backup power systems, wireless communication, and industrial electronics.
History
Established in 1965 under the name Maxwell Laboratories Inc. by founders Raymond C. O'Rourke, Alan Kolb, Bruce Hayworth, and Terrence C. Gooding in San Diego, the firm initially operated as a government contractor focusing on advanced physics and pulsed power research for the U.S. military. Transitioning towards commercial markets during the early 1990s, by 2014 the company derived all its income from commercial ventures. The name was changed to Maxwell Technologies, Inc. in 1996.
In 2000, General Atomics acquired Maxwell’s Energy Products division, including its High Voltage Capacitor business, which was subsequently integrated into General Atomics Electronic Systems by 2003.
Maxwell secured a $3 million contract in 2007 from Astrium Satellites to provide computing equipment for the European Space Agency’s ‘Gaia’ astronomy project.
Manufacturing capabilities were expanded with the opening of a new plant in Peoria, Arizona in November 2013. The following month, Maxwell entered into a memorandum of understanding with SK Innovation to collaboratively develop advanced electrical energy storage technologies by combining Maxwell's ultracapacitors with SK’s lithium-ion battery technology.
In April 2016, Maxwell divested its microelectronics product line to Data Device Corporation for $21 million.
The company strengthened its ultracapacitor technology portfolio by acquiring all assets of Nesscap Energy Inc. in April 2017 for $23.175 million.
In February 2019, electric vehicle and clean energy leader Tesla, Inc. announced its intention to purchase Maxwell Technologies for $218 million; the acquisition was finalized in May 2019. Two years later, in July 2021, Tesla sold Maxwell’s brand and ultracapacitor division to San Diego-based startup Ucap Power, led by former Maxwell sales executive Gordon Schenk.