September 11, 2008
LTi REEnergy Selects Maxwell Technologies BOOSTCAP(R) Ultracapacitors for Backup Power in Wind Turbine Blade Pitch Control Systems
SAN DIEGO, Sept. 11 /PRNewswire-FirstCall/ -- Maxwell Technologies Inc. announced today that LTi REEnergy GmbH (LTi), one of the world's leading producers of electro-mechanical wind turbine blade pitch control systems, has selected Maxwell's BOOSTCAP(R) ultracapacitors to supply backup power for LTi's PitchMaster(R) blade pitch control system.
Blade pitch control systems enhance the consistency of wind turbines' electrical energy output and ensure that rotor speed remains within a safe operating range by constantly adjusting turbine blades to compensate for changes in wind velocity. Ultracapacitors supply backup power for orderly system shutdown in the event of a main system power failure.David Schramm, Maxwell's president and chief executive officer, said that LTi's PitchMaster(R) system incorporates multi-cell BOOSTCAP ultracapacitor modules based on Maxwell's BCAP0350 "D cell" product.
"LTi supplies blade pitch control systems to a number of major wind turbine manufacturers around the world, and already sold more than one thousand PitchMaster(R) systems, so this new supply agreement represents a significant expansion of Maxwell's penetration of the rapidly growing wind energy industry," Schramm said. "We are pleased to be aligned with another leading player in the dynamic renewable energy marketplace."
Matthias Vehring, LTi's Managing Director, said that ultracapacitors were chosen over batteries for backup power because of their longer operating life, lower maintenance requirements and ability to operate more reliably in harsh climates.
"Wind turbine operators need systems that perform reliably for many years in all weather conditions with minimal maintenance," Vehring said. "BOOSTCAP products have demonstrated their durability and reliability at temperatures ranging from -40 to +65C, which enables our pitch control systems to better meet our customers' expectations."
Industry sources report that nearly 20,000 MW of new wind generator capacity was installed in 2007, bringing the total worldwide installed base to approximately 94,000 MW. From 2003 through 2007, the industry maintained an annual growth rate of more than 20 percent, and it is projected to continue to meet or exceed that rate through 2012.
LTi REEnergy GmbH, based in Unna, Germany, is part of the LTi group of companies with approximately 900 employees worldwide. Thanks to their long-standing expertise, LTi REEnergy is an expert in electric drive systems for wind turbines and is a leading provider in this segment. The company, with its headquarters in Unna, Germany, has been developing and marketing electric pitch systems and components for wind energy and ocean current energy plants for more than 10 years. The company has a centralized prototyping division at the Unna location as well as various production sites worldwide. With their broad sales and service network in Europe and Asia, they serve both German and international customers.
Maxwell Technologies is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Our BOOSTCAP(R) ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our CONDIS(R) high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation-mitigated microelectronic products include power modules, memory modules and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications. For more information, please visit http://www.maxwell.com/.
Forward-Looking Statements -- Statements in this news release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as:
-- development and acceptance of products based on new technologies; -- demand for original equipment manufacturers' products reaching anticipated levels; -- general economic conditions in the markets served by the company's products; -- cost-effective manufacturing and the success of outsourced manufacturing; -- the impact of competitive products and pricing; -- risks and uncertainties involved in foreign operations, including the impact of currency fluctuations; -- product liability or warranty claims in excess of reserves.
For further information regarding risks and uncertainties associated with Maxwell's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of our SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Maxwell's investor relations department at (858) 503-3233 or at our investor relations website: http://www.maxwell.com/investors/sec-filing.asp. All information in this release is as of September 11, 2008. The company undertakes no duty to update any forward-looking statement to reflect actual results or changes in the company's expectations.
Maxwell Technologies Inc.
Web site: http://www.maxwell.com/