Tesla's battery packs offer one of the best energy density for hours usage in the industry, but there's always room for improvement. It was likely this reason, the automaker just purchased a company specializing in battery and capacitor tech.
Tesla will purchase Maxwell Technologies, energy storage via batteries/capacitor technology company based in San Diego, the company said on Monday. The transaction will cost Tesla $218 million, and its buyout price of $4.75 per share is a 55-percent premium over Maxwell's Friday closing price. Maxwell said that the purchase already has board approval, and it should be finalized in or shortly after the second quarter of 2019.
"We are always looking for potential acquisitions that make sense for the business and support Tesla's mission to accelerate the world's transition to sustainable energy," a Tesla spokesperson said in a statement. The automaker did not elaborate further about why it chose Maxwell.
Maxwell Technologies was founded in 1965, offering its research and development efforts to the government as an outside contractor. Its focus is in energy storage and power delivery, specifically ultracapacitors, which can accept and deliver charge much faster than batteries. The company isn't limited to the automotive space, though -- its solutions can also work with renewable energy systems like wind turbines.
What is an ultracapacitor or a supercapacitor you might ask? Here is a wiki link so you can get more information on the tech. There are several different types of this technology ranging from hybrid capacitor/batteries to ultracapacitors. The promise of higher energy density with a far greater cycle life is a huge advantage to ultracapacitor technology. However, there is still a lot of research and development that is needed to further advance it as a viable energy storage option.
"We are very excited with today's announcement that Tesla has agreed to acquire Maxwell," said Dr. Franz Fink, president, and CEO of Maxwell, in a statement. "Tesla is a well respected and world-class innovator that shares a common goal of building a more sustainable future. 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."
To learn more about Ultracapacitors or Supercapacitors this is a great resource from a group that specializes in making them.
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