Maxwell Technologies Inc. (MXWL) Selected as Exclusive Capacitive Energy Storage Supplier by China’s Largest Rail Company

Maxwell Technologies, Inc. (NASDAQ:MXWL), a leading developer and manufacturer of ultracapacitor-based energy storage solutions, announced today that it has signed a long-term strategic partnership agreement with China Railway Rolling Stock Corporation (CRRC-SRI, formerly CNR-SRI), subsidiary of CRRC, one of the largest rail vehicle manufacturers in the world. The agreement will examine multi-year collaboration activities between the two companies to jointly develop new application-specific, next-generation capacitive energy storage solutions that meet the unique application requirements of CRRC-SRI’s customers in the Chinese rail market.

Capacitive energy storage technology offers high-power density performance under extreme temperatures with long operational lifetimes and is ideally suited for rail transportation applications, particularly onboard commuter rolling stock modalities such as subway and light rail. CRRC-SRI selected Maxwell based on its global leadership in developing and delivering high-quality ultracapacitor solutions proven in global transportation applications such as start-stop autos and hybrid buses, which require rapid braking, energy recuperation and power delivery. Maxwell will work closely with CRRC-SRI to develop solutions uniquely designed to address the growing Chinese rail market.

“The current expansion of rail transportation infrastructure in China will continue well into the next decade and has higher requirements on energy saving and environment protection now and in the future, particularly for onboard rail vehicles,” said Liu Baoming, chairman of CRRC-SRI. “We firmly believe capacitive energy storage technology is essential to providing solutions that meet those energy-saving and environment-protection requirements. We highly value Maxwell Technologies’ expertise in capacitive energy storage and trust its technology leadership to help us keep pace with the rate of innovation required now and into the next decade.”

“Rail transportation applications are an excellent match for ultracapacitors, and the rail market will be a significant opportunity for Maxwell,” said Dr. Franz Fink, Maxwell’s president and chief executive officer. “In China, advanced energy storage and power delivery solutions will play an increasingly important role in improving efficiencies and reducing carbon emissions. Our partnership with CRRC-SRI represents an excellent opportunity for us to generate meaningful revenue in a three-to-five-year horizon through the co-development of application-specific technology and products for the expanding China rail market.” (Original Source)

Shares of Maxwell Technologies closed today at $4.25, up $0.07 or 1.67%. MXWL has a 1-year high of $12.03 and a 1-year low of $4.06. The stock’s 50-day moving average is $5.38 and its 200-day moving average is $6.54.

On the ratings front, Maxwell has been the subject of a number of recent research reports. In a report issued on June 17, Northland Securities analyst Noah Kaye upgraded MXWL to Buy, with a price target of $7, which represents a potential upside of 68.7% from where the stock is currently trading. Separately, on May 4, Piper Jaffray’s Alexander Potter maintained a Buy rating on the stock and has a price target of $9.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Noah Kaye and Alexander Potter have a total average return of -2.3% and -9.9% respectively. Kaye has a success rate of 50.0% and is ranked #2822 out of 3721 analysts, while Potter has a success rate of 39.3% and is ranked #3523.

The street is mostly Neutral on MXWL stock. Out of 4 analysts who cover the stock, 3 suggest a Hold rating and one recommends to Buy the stock.

Maxwell Technologies Inc develops, manufactures and markets energy storage and power delivery products for transportation, industrial, information technology and other applications and microelectronic products for space and satellite applications.

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