UCAP Power, a developer of ultracapacitor-based power solutions, has announced it has completed the purchase of Maxwell Technologies Korea, the Korean-based ultracapacitor business, as well as other related assets including the Maxwell brand.
With the addition of these assets, which includes system patents and products, UCAP Power is building upon its foundation of success in driving innovation across the energy storage market, most recently exemplified by the launch of the Company’s POWERBLoK battery replacement solution. POWERBLoK’s unique customer-friendly design incorporates integrated charging and control to offer a scalable, long-life, safe sustainable alternative to lead-acid batteries.
“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” said Gordon Schenk, CEO of UCAP Power. “This combination creates a clear market leader in the wind turbines, reserve power, automotive transportation and microgrid application markets.”
Looking ahead, the Company is focused on further growing the market for ultracapacitor based solutions in three main areas:
- Systems and application expertise – Moving beyond ultracapacitor as a component.
- Intelligent electronics integration – Increasing value while reducing overall system costs.
- Advanced chemistry and processes – Resetting traditional standards with a green emphasis.
“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,” concludes Schenk. “With market opportunities valued at more than $7 billion annually by 2027[1], our team is ready for the challenge, and we look forward to announcing new and industry leading product updates as we continue to grow.”
[1] Source: Verified Market Research’s 2020 Supercapacitor/Ultracapacitor Market Report
