Maxwell Technologies (NasdaqGM: MXWL), a manufacturer of energy storage products, and ISE Corporation (ISE), a designer and manufacturer of hybrid propulsion systems and components for heavy-duty vehicles, have signed a Memorandum of Understanding (MOU) outlining the formation of a strategic alliance to develop and market high-voltage energy storage systems for fuel-efficient, low-emission, hybrid-electric buses and trucks.
Under the agreement, ISE will source ultracapacitor cells exclusively from Maxwell; and Maxwell will source and market through certain high-voltage and high performance ultracapacitor modules designed and produced by ISE.
The agreement builds on a relationship that began in 2002, when Maxwell began supplying its BOOSTCAP ultracapacitors to ISE for braking energy recapture and torque assist in ISE’s hybrid drive systems for heavy-duty vehicles.
"ISE’s pioneering energy storage system designs incorporating ultracapacitors gave our BOOSTCAP products their first production-level opportunity in the transit bus market," said David Schramm, Maxwell’s president and CEO. "Both of our companies’ technology and products have come a long way since then and rising fuel prices and new regulations aimed at reducing CO2 emissions are driving demand that is bringing hybrid drive systems squarely into the transportation mainstream."
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