Maxwell Technologies Inc. (Nasdaq: MXWL) will be added to the Russell 2000, 3000 and appropriate growth and style equity indexes when they are reconstituted on June 30, 2006, according to a preliminary list of additions issued by Russell Investment Group. Membership in Russell’s equity indexes is determined annually on the basis of market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. According to Russell, $3.8 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company’s weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies comprise the widely used Russell 2000 Index.
Maxwell also announced the release of a new “Quick-Turn” BOOSTCAP ultracapacitor module program that offers shipment within 14 days of receipt a customer purchase order for custom-configured multi-cell energy storage and power delivery solutions for systems requiring up to 540 volts. Dr. Richard Balanson, Maxwell’s president and chief executive officer, said, “By eliminating the complexity and long lead times that system designers frequently encounter when they want to evaluate and prototype ultracapacitors solutions, we are facilitating and accelerating development of new applications that have the potential to drive high volumes in the years ahead.”
BOOSTCAP ultracapacitors deliver up to 10 times the power and longevity of batteries, require no maintenance and operate reliably in extreme temperatures. In transportation applications, they efficiently recapture energy from braking for reuse in hybrid drive trains, reducing fuel consumption and emissions. They also provide compact, lightweight, “life-of-the vehicle” solutions to stabilize automotive power networks and power new, all-electric subsystems, such as drive-by-wire steering. In mission critical industrial applications, where backup power is critical for continued operation or a soft shutdown in the event of power interruptions, they provide reliable, cost-effective, maintenance-free energy storage. In wind turbine blade pitch and braking systems and other industrial applications, they provide a simple, solid state, highly reliable, solution to buffer short-term mismatches between the power available and the power required.
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