Maxwell Technologies, Inc. (Nasdaq: MXWL) and Tianjin Lishen Battery Joint-Stock Co., Ltd. , (Lishen), China’s leading producer of rechargeable lithium-ion batteries, have announced an alliance to manufacture and market novel “hybrid” energy storage products combining the companies’ respective ultracapacitor and li-ion battery technologies.
David Schramm, Maxwell’s president and chief executive officer, said that the companies see a large market opportunity for products that leverage the complementary strengths of double layer capacitor and li-ion battery technologies.
“We believe that the products we envision will give end-users the best of both worlds in terms of the long cycle life, rapid charge/discharge characteristics and low temperature performance of ultracapacitors and the large energy storage capacity of lithium-ion batteries,” Schramm said. “We also plan to move some of our BOOSTCAP product assembly to Lishen in order to leverage our joint process engineering capabilities, and Lishen will conduct development and qualification testing on battery electrode material produced through Maxwell’s proprietary dry process, so we see this as a deep and strategically important alliance for both companies.”
The companies have identified a number of initial target applications for the new products, ranging from quick-charge cordless tools to electric vehicles, and anticipate production and delivery of initial product samples in early 2008.
This is not the first announcement of such a poroduct, but it brings together two very large companies who can pull off this feat. It should be a great product.