US-based UCAP Power has completed the purchase of fellow developer of ultracapacitor-based power solutions Maxwell Technologies Korea and other related assets including the Maxwell brand.
The acquisition included all non-dry battery assets including patents, trademarks, brands, and the Maxwell Technologies Korea manufacturing plant and product lines.
Troy Brandon, GM and VP at UCAP, told BEST: "When Maxwell Technologies bought Nesscap back in 2017 they structured those assets as Maxwell Technologies Korea. We bought those assets as well as others from Maxwell Technologies."
The purchase comes after Tesla sold back Maxwell Technology's ultracapacitor business and brand after acquiring it just over two years ago.
Gordon Schenk, CEO of UCAP Power, said: “We’re thrilled to combine Maxwell Technologies Korea’s ultracapacitor manufacturing capabilities and one of the largest patent and product portfolios in the industry with the growing family of products developed by UCAP Power.”
Looking ahead, the company is focused on further growing the market for ultracapacitor-based solutions, with specific focus on three main areas:
1. Systems and application expertise - Moving beyond ultracapacitor as a component.
2. Intelligent electronics integration - Increasing value while reducing overall system costs.
3. Advanced chemistry and processes - Resetting traditional standards with a green emphasis.
Schenk said: “We believe the combination of these three elements will better enable our customers to design, develop and deliver many promising energy storage solutions as we move forward into a more fully electrified world."
UCAP Power is a portfolio company of EvoNexus, California’s leading non-profit technology incubator and a member of Southern California Energy Innovation Network (SCEIN).