Wednesday, June 17, 2009
Maxwell Technologies, ISE Ink Deal Around Hybrid Bus and Truck Power
San Diego-based Maxwell Technologies and Poway-based ISE Corporation reported this morning that the two companies are in a strategic alliance around development of energy storage systems for hybrid buses and trucks. Maxwell--which manufacturers energy storage products--and ISE Corporation, a developer of hybrid propulsion systems for heavy duty vehicles--said they have signed a Memorandum of Understanding around development and marketing of high voltage, energy storage systems for hybrid buses and trucks, including sharing of technical resources; use of Maxwell's ultracapacitors by ISE; and sourcing and marketing of ISE's ultracapacitor modules through Maxwell's channel. The two companies have been working together since 2002. ISE Corporation is venture backed by such firms as Siemens Venture Capital, Macquarie Clean Technology Fund, DTE Energy Ventures, RockPort Capital Partners and NGP Energy Technology Partners.
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