July 29, 2008

Chinese Bus Manufacturer Selects Maxwell Technologies’ BOOSTCAP(R) Ultracapacitors for Hybrid Transit Buses

SAN DIEGO, July 29 /PRNewswire-FirstCall/ -- Maxwell Technologies Inc. announced today that Golden Dragon Bus Co. Ltd., one of the world's leading producers of medium and heavy duty buses, has selected Maxwell's BOOSTCAP(R) ultracapacitors for braking energy recuperation and torque assist in fuel-efficient, low-emission, diesel-electric hybrid buses Golden Dragon is producing for the Hangzhou, China, Public Transport Group Co., Ltd.

David Schramm, Maxwell's president and chief executive officer, said that Maxwell has completed delivery of 720 48-volt BMOD0165 P048 multi-cell ultracapacitor modules to Golden Dragon for installation into 45 hybrid buses ordered by the Hangzhou Public Transport Group Co., Ltd.

Golden Dragon delivered the first prototype hybrid bus with an ultracapacitor-based energy storage system to Hangzhou in July 2007, for comparison with other hybrid drive systems under actual operating conditions.

"Ultracapacitors' high braking energy recuperation efficiency and long operational life make them an ideal energy storage choice for fuel-efficient, low-emission hybrid transit vehicles," said George Dong, Golden Dragon's Hybrid Bus Program Engineer. "Maxwell's products performed very well during the evaluation period, and the 48-volt BOOSTCAP module gives us a versatile building block for easy integration into various high-voltage configurations for heavy vehicles."

"Golden Dragon has developed an innovative hybrid drive system for cleaner, more efficient, transit buses and other commercial vehicles," Schramm said. "This program has given us a tremendous opportunity to demonstrate the performance and reliability of our products and Maxwell's capabilities as a supplier to an industry leader in one of the world's most dynamic and fastest growing markets.

"BOOSTCAP modules meet transportation industry requirements for watt-hours of energy storage and watts of power delivery per kilogram, and are designed to perform reliably through one million or more deep discharge cycles, or about 10 years of operational life for most vehicles," Schramm added. "This performance and reliability make them a preferred energy storage option for many types of public transit and commercial vehicles, so we expect heavy vehicle applications to continue to be a key driver for global ultracapacitor sales growth."

BMOD0165 P048 modules are encased in a rugged, splash-proof, aluminum chassis. They weigh 14.2kg and are 12.6 liters in volume (416.2mm x 190.1mm x 156.7mm). These durable "smart boxes" include temperature and voltage monitoring and internal cell voltage management that give designers "plug and play" solutions and makes them versatile building blocks for systems with higher voltage requirements. A complete data sheet may be accessed via the following link: http://www.maxwell.com/ultracapacitors/products/modules/bmod0165-48-6v.asp.

About Golden Dragon: Golden Dragon Bus Co., Ltd. is a joint venture company established in 1992 to develop, manufacture and market large-and-medium-sized luxury buses and light vans under the Golden Dragon brand. Its diverse line of products includes vans and buses ranging from five to 18 meters in length and seating from five to 65 passengers. Its state-of-the-art, 350,000 square-foot, production facility in Xiamen, China, has the capacity to produce 15,000 large-and-medium-sized buses and 25,000 light vans a year. Its achievements in product development, engineering innovation and quality control have enabled it to capture a growing share of both Chinese and export markets and gain recognition for Golden Dragon as an industry leader worldwide.

About Maxwell: 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 of new products;   --  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 our 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 Maxwell's 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 our investor relations department at (858) 503-3300 or at our investor relations website at http://www.maxwell.com/investors/sec-filing.asp .

All information in this release is as of July 29, 2008. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Maxwell Technologies Inc.

CONTACT: Michael Sund of Maxwell Technologies Inc., +1-858-503-3233,[email protected]

Web site: http://www.maxwell.com/