California’s ultracapacitor firm Maxwell Technologies has announced that it has substantially completed its acquisition of the assets and business, including the operating entities, of Nesscap Energy, a South Korea-based ultracapacitor maker.
The Nesscap business includes research, development and manufacturing of energy storage and power delivery solutions with operations in Korea, Germany, and China.
Franz Fink, Maxwell’s president and CEO, said the acquisition allowed Maxwell to increase its production and boost the technology of its own ultracapacitors for the global market.
“Nesscap’s industry-leading small and medium cell ultracapacitor technology complements Maxwell’s leadership in large cells, creating an expanded and strengthened product portfolio,” Fink said.
“The completion of this acquisition marks an important step for Maxwell in its plan to achieve growth and profitability, as it puts our ultracapacitor product line on a solid foundation and provides needed scale as we move towards our inflection point in late 2018.”