cageymaru
Fully [H]
- Joined
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Tesla has entered into a definitive agreement to purchase Maxwell Technologies for $4.75 per share. Maxwell will become a Tesla subsidiary and will be wholly owned by Tesla. Maxwell is developer and manufacturer of Innovative, cost-effective energy and power delivery solutions. The company is known for its patented dry electrode technology used in its ultracapacitors, which can be used to manufacture batteries. Maxwell ultracapacitors can be recharged virtually instantly and are the perfect solution for regenerative systems which are found on electric cars. Batteries have a narrow operating range and perform poorly at low and high temperatures alike. The Maxwell ultracapacitors can operate all the way down to -40C. Maxwell ultracapacitors perform reliably through one million charge/discharge cycles. Typical batteries can only last through a few thousand charge/discharge cycles. Maxwell also makes power smoothing solutions for utility grids and signed a deal with Geely/Volvo to implement its designs into the automotive sector. The closing of the deal is subject to regulatory approvals and is expected to be completed by Q2 2019.
"We are very excited with today's announcement that Tesla has agreed to acquire Maxwell. Tesla is a well-respected and world-class innovator that shares a common goal of building a more sustainable future," said Dr. Franz Fink, President and Chief Executive Officer of Maxwell. "We believe this transaction is in the best interests of Maxwell stockholders and offers investors the opportunity to participate in Tesla's mission of accelerating the advent of sustainable transport and energy."
"We are very excited with today's announcement that Tesla has agreed to acquire Maxwell. Tesla is a well-respected and world-class innovator that shares a common goal of building a more sustainable future," said Dr. Franz Fink, President and Chief Executive Officer of Maxwell. "We believe this transaction is in the best interests of Maxwell stockholders and offers investors the opportunity to participate in Tesla's mission of accelerating the advent of sustainable transport and energy."