Maxwell Technologies

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Maxwell Technologies Inc.
IndustryEnergy storage
Founded1965; 56 years ago (1965)
Headquarters3888 Calle Fortunada, San Diego, California, US
Key people
Franz Fink, (President, CEO)
David Lyle (CFO)
High-voltage capacitors
Engine Start Module (ESM)
Backup power systems
Power modules
Revenue$ 90.5 million (2018)[1]
Number of employees
ParentTesla, Inc.

Maxwell Technologies is an American developer and manufacturer headquartered in San Diego, California. The company focuses on developing and manufacturing energy storage and power delivery products for automotive, heavy transportation, renewable energy, backup power, wireless communications and industrial and consumer electronics applications.[2] The company was acquired by Tesla on May 15, 2019, and now operates as a Tesla subsidiary.[3]


The company was founded in 1965 as Maxwell Laboratories Inc. by Raymond C. O'Rourke, Alan Kolb, Bruce Hayworth, and Terrence C. Gooding in San Diego, California. Maxwell Laboratories was originally a government contractor, providing advanced physics, pulsed power, space effects analysis and other research and development services to the U.S. military and other government agencies. The company began converting its focus to commercial applications for its technologies and products in the early 1990s, and by 2014, generated all of its revenue from commercial sources.[4] In 1996, Maxwell Laboratories, Inc. changed its name to Maxwell Technologies, Inc.[5]

Maxwell Energy Products, a division that included the Maxwell High Voltage Capacitor product line, was acquired in March 2000 by General Atomics, eventually merging into General Atomics Electronic Systems, Inc. in 2003.

In 2007, Maxwell Technologies won US$3 million contract from Astrium Satellites to supply computers for European Space Agency’s ‘Gaia’ Astronomy mission. Maxwell supplied seven Maxwell SCS750 SBCs to process images and data gathered by the satellite's camera.[6]

In November 2013, Maxwell Technologies opened manufacturing facility in Peoria, Arizona.[7]

In December 2013, Maxwell Technologies signed a memorandum of understanding (MOU) with SK Innovation to develop the next generation energy storage[clarification needed] with Maxwell's ultracapacitors and SK's lithium-ion batteries.[8][needs update]

In April 2016, Maxwell completed its sale of its microelectronics product line to Data Device Corporation.[9]

In April 2017, Maxwell Technologies acquired the Nesscap Energy Business[clarification needed].[10]

In February 2019, Tesla announced that it planned to acquire Maxwell Technologies,[11][12][13] and completed the deal on May 15, 2019, for US$218 million.[14]


  1. ^ "Maxwell Technologies Company Profile".
  2. ^ [1] Archived 2019-08-06 at the Wayback Machine“About Maxwell Technologies” website, accessed 5 February 2014
  3. ^ [2]"UPDATE: Tesla Officially Acquires Maxwell Technologies"
  4. ^ [3] “Dr. Alan C. Kolb, 77; co-founded Maxwell Labs in San Diego” U-T San Diego, accessed 5 February 2014
  5. ^ [4]“Business Summary”, Yahoo Finance – Maxwell Technologies (MXWL), accessed 5 February 2014
  6. ^ [5] “Maxwell Technologies Wins $3 Million Contract From Astrium Satellites to Supply Computers for European Space Agency's 'Gaia' Astronomy Mission”
  7. ^ [6]“Maxwell Technologies creating $26M facility in Peoria”, Phoenix Business Journal, accessed 6 February 2014
  8. ^ [7]“Maxwell and SK to Jointly Develop Ultracap/Battery Combo”, Charged Electric Vehicle Magazine, accessed 6 February 2014
  9. ^ [8]“Maxwell Technologies Completes Sale of Microelectronics Product Line to Data Device Corporation for $21 Million, accessed 4 May 2016
  10. ^ "Maxwell Technologies to Acquire Nesscap Energy Business". Retrieved 2017-08-02.
  11. ^
  12. ^ "Tesla Plans to Acquire Maxwell Technologies in Deal Valued at $218 Million". Fortune. February 4, 2019. Retrieved February 4, 2019.
  13. ^ Lambert, Fred (February 4, 2019). "Tesla acquires ultracapacitor and battery manufacturer for over $200 million".
  14. ^ Tesla, Inc. (May 16, 2019). "Tesla Completes Acquisition of Maxwell Technologies".