Maxwell Technologies, a manufacturer of energy storage and power delivery technology, has sold its high-voltage product line to Renaissance Investment Foundation for $55.1 million in cash and up to $15 million in future payments. Included in the deal were Maxwell’s Swiss subsidiary, Maxwell Technologies SA, and its CONDIS line of high-voltage capacitors.

Maxwell will now focus on energy storage for auto, wind, rail, and grid markets, while further researching and developing dry battery electrode (DBE) technology. DBE is a solventless coating technology that offers high loading and produces a thick electrode for high-energy-density cells without compromising physical properties and electrochemical performance. Maxwell says its DBE technology boasts better discharge rate capability than wet-coated electrodes.

“It is becoming increasingly clear that our DBE technology holds significant advantages over currently available energy systems for EVs,” said Maxwell CEO Franz Fink. “The time was right to shift our focus to further develop disruptive technologies and energy systems that address burgeoning global markets, notably the dramatically expanding EV market.”

Source: Maxwell Technologies