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Thursday, March 09, 2006
MAXWELL TECHNOLOGIES RECEIVES 200,000-UNIT, THREE-YEAR ULTRACAPACITOR PURCHASE ORDER FROM GENERAL HYDROGEN

General Hydrogen's Hydricity® Pack Power Systems Incorporate Ultracapacitors to Enhance Performance and Efficiency of Electric Lift Trucks

SAN DIEGO, Calif. -- Maxwell Technologies, Inc. (Nasdaq: MXWL) announced today that General Hydrogen Corporation, a leading developer of hydrogen fuel cell-based power systems for electric forklifts, has placed a 200,000 unit, three-year, purchase order for BOOSTCAP® ultracapacitors to enhance performance and energy management in its Hydricity® Pack technology.

Dr Richard Balanson, Maxwell's President and Chief Executive Officer, said that the purchase order is part of a strategic supply agreement through which General Hydrogen will source ultracapacitors exclusively from Maxwell and receive strategic pricing if volume thresholds specified in the purchase order are reached. He said that each Hydricity system incorporates 30 to 120 BOOSTCAP MC2600 2,600-farad ultracapacitor cells, and that General Hydrogen anticipates that its volume requirements will escalate rapidly over the next three years.

"General Hydrogen is a leading integrator of fuel cell power systems for a range of industrial vehicles, particularly battery-electric forklifts," Balanson said. "This is one of dozens of high-volume industrial and transportation applications that are creating a multi-billion-dollar opportunity for ultracapacitors in the coming decade, and we continue to move aggressively to strengthen Maxwell's capabilities and global reach to capitalize on that opportunity."

Frank Trotter, General Hydrogen's President and Chief Executive Officer, said that Hydricity Pack power systems are an economical "drop-in" replacement today for lead-acid batteries in Class I electric forklifts.

"Maxwell's ultracapacitors are a critical element that helps us triple the runtime of forklifts, eliminating the average three lead-acid battery sets per vehicle and the extensive infrastructure normally associated with the recharging and care of high-use conventional battery-electric forklifts," Trotter said. "Ultracapacitors' burst power capabilities, energy recapture efficiency and long operating life make them an ideal complement to hydrogen fuel cells.

"Incorporating them enables us to optimize system efficiency and response time and reduce overall system size and cost," Trotter added. "Our customers want power systems that require minimal maintenance and operate reliably for many years, and we believe that incorporating BOOSTCAP ultracapacitors as a key component of our Hydricity Pack fuel cell systems will enable us to meet their expectations."

About General Hydrogen
General Hydrogen is headquartered in Richmond, British Columbia, near Vancouver. It is a private, Delaware-registered company that was started six years ago by Dr. Geoffrey Ballard and Paul Howard, the original founders of Ballard Power Systems. General Hydrogen develops and is commercializing fuel cell systems and hydrogen fueling solutions for industrial vehicles and other off-road equipment.

About Maxwell
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 our website: http://www.maxwell.com.

Contacts:
General Hydrogen: Nigel Horsley - Tel. +1 (604) 233-7676, email: nhorsley@generalhydrogen.com
Maxwell Technologies: Nick Daines - Tel. +44 (0)115 8412109, email: ndaines@insightmkt.com

 

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