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Maxwell Technologies' Swiss Subsidiary Receives Government Funding to Develop Improved Dielectric Material for High Voltage Capacitors

Maxwell Technologies, Inc. (Nasdaq: MXWL), a leading producer of energy storage and power delivery products, announced today that its Swiss subsidiary will receive approximately $600,000 from the Swiss government to accelerate the company's initiatives to improve manufacturing processes and enhance performance of its CONDIS® high-voltage capacitor products for electric utility grid infrastructure and other high-voltage applications.

The funding is being provided by the Commission for Technology and Innovation of the Swiss Federal Department of Economic Affairs to support Maxwell Technologies SA's collaborative dielectric material development program with the Swiss Federal Laboratories for Materials Science and Technology.  The 30-month program will commence on March 1.

"We believe that the process and material enhancements this program aims to achieve will improve the performance of existing products and enable us to produce new products for ultra-high voltage equipment and high voltage direct current (HVDC) transmission infrastructure that will be an integral element of 'smarter' grids around the world," said Sacha Jenny, vice president and general manager of Maxwell Technologies SA. "Among the benefits these innovations may provide is the ability to deliver the same capabilities as current products in a smaller package."

CONDIS capacitor products perform reliably for decades in dead tank, live tank and other high voltage circuit breaker and transformer applications. CONDIS capacitive voltage dividers (CVD) are used to measure voltage and power levels in overhead transmission lines.  Maxwell Technologies SA announced in February 2011, that its CVD products had been designed into thousands of capacitive voltage transformers that will be installed over the next several years as part of a multi-billion-dollar renovation of Russia's electric utility grid.

Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions.  Our ultracapacitor products 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.

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