Maxwell Technologies Inc. (MXWL) received European Economic Community (EEC)-Type Approval and Conformity of Production (CoP) for its 125-volt Heavy Transportation Module (HTM125) from the North American office of United Kingdom’s Vehicle Certification Agency.
The EEC-Type Approval confirms that the module meets the EEC vehicle electromagnetic compatibility requirements of Council Directive 72/245/EEC. The CoP clearance certifies that Maxwell’s internal production and documentation control systems, procedures and practices meet the EEC requirements to ensure the company’s sustained ability to manufacture HTM125.
The HTM125 was tested in order to ensure its resistance to the radiated disturbances in the functioning of direct control of vehicles. In addition, the testing was done to perceive whether it fulfills the requirements regarding control of unwanted radiated and conducted emissions when it is used in the specific electronic equipment in the installed or adjacent vehicles.
The module meets or exceeds transportation industry requirements for environmental susceptibility. Moreover, its low equivalent series resistance provides the utmost power capability required for heavy machinery.
Maxwell’s 125-volt Heavy Transportation series of ultra capacitor modules is a high performance energy storage and power delivery product line for hybrid buses and trucks, trolleys and other light rail vehicles, mining and construction equipment and seaport cranes.
All the HTM products have capabilities to guarantee high reliability and long operational life. The modules provide the high efficiency recharge and high power required for acceleration whether used as sole energy storage or in combination with batteries.
In the near term, growth for Maxwell will be powered by sales of ultra capacitors to support efficient, cost-effective energy storage for recuperative braking systems in low-emission, hybrid electric transit buses and zero-emission electric rail vehicles.
The company is actively tapping the market through a series of orders from Chinese hybrid bus original equipment manufacturers. Its key end markets appear likely to benefit from government stimulus programs as well as more stringent automotive emissions legislation.
However, downside risks include the uncertain rate of penetration for ultracapacitor technology into broader markets, a higher cost structure for ultracapacitor production, R&D overheads and earnings dilutive equity issuances. The company presently retains a short-term Zacks #3 Rank (Hold) that corresponds with our long-term Neutral recommendation on the stock.
Based in San Diego, California, Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. The company’s BOOSTCAP ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. The company mainly competes with National Semiconductor Corporation (NSM) and Panasonic Corporation (PC).
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