Ultracapacitors Provide High-Reliability, Low-Maintenance Energy Storage Alternative to Batteries

SAN DIEGO, Calif. - Maxwell Technologies Inc. (Nasdaq: MXWL) announced today that Enercon GmbH, a leading producer of wind turbines, has selected Maxwell's BOOSTCAP® ultracapacitors for backup energy storage and power delivery in its new E-48 800 kW wind turbines.

Alain Riedo, vice president and general manager of Maxwell's Swiss subsidiary, Maxwell Technologies SA, said that the companies have signed a strategic supply agreement through which Enercon will source ultracapacitors exclusively from Maxwell.

"With an installed base of more than 7,300 wind turbines worldwide, Enercon is at the forefront of developing and producing megawatt class turbines," Riedo said. "To optimize energy output and enhance system reliability and longevity, each of their turbines' three blades has an independent braking and pitch adjustment mechanism with backup power to ensure its continuous operation in the event of a power failure. Enercon's E48 turbines each incorporate more than 200 of our BOOSTCAP ultracapacitors for backup power."

Ulrich Neundlinger, Enercon's managing director of switching units, said that the company decided to use ultracapacitors for blade pitch system backup power after extensive testing confirmed their significant advantages over traditional battery solutions.

"Ultracapacitors enabled our engineers to solve a number of battery-related design challenges, including poor low temperature performance and limited cycle life," Neundlinger said. "Maxwell's products emerged as the clear choice for this application on the basis of their robust construction, long operating life and cost effectiveness. Our customers want systems that require no maintenance and operate reliably for many years, and we believe that BOOSTCAP products will allow us to continue to meet that expectation with our new generation of pitch systems."

Industry sources place the current annual value of the global wind energy market at nearly $9 billion and project that yearly wind turbine unit sales now approaching 8,000 will grow by an average of more than 10 percent per year over the next five years. Neundlinger noted that new offshore installations are expected to account for an increasing share of that growth, and that ultracapacitors' high reliability and long operating lifetime make them particularly attractive for offshore and other remote locations that are costly and difficult to service.

Enercon is a private company headquartered in Aurich, Germany, with additional production facilities in Magdeburg, Germany, and in Sweden, Brazil, India and Turkey. Founded 1984, Enercon is recognized throughout the wind energy industry for its pioneering research and development. In 1991, the company developed the world's first gearless wind energy system, and by 1993, began large-scale manufacturing of gearless wind turbines that set new standards for energy output, reliability and service life. To ensure industry-leading technology, quality and safety, Enercon develops and produces all key components, including rotors, ring generators and the grid feeding systems, internally. For more information, please visit www.enercon.de.

Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Our BOOSTCAP® ultracapacitor cells and multi-cell modules and POWERCACHE® backup power systems provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our CONDIS® 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 www.maxwell.com.
This news release contains forward-looking statements that are subject to risks and uncertainties. These include development and acceptance of products based on new technologies, demand for original equipment manufacturers' products reaching anticipated levels, cost-effective manufacturing of new products, the impact of competitive products and pricing and risks and uncertainties involved in foreign operations. These and other risks are detailed from time-to-time in the Company's SEC reports, including the report on Form 10-K for the fiscal year ended December 31, 2003. Actual results may differ materially from those projected. These forward-looking statements represent the Company's judgment as of the date of this news release. The Company disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that may arise after the date of this release.