Tesla has been able to acquire Maxwell Technologies, An Energy Storage Company in a stock deal that values $218 million. This is going to improve their batteries as well as lower the cost, and that is going to help them against the competitors entering the market. This is big news for Mobile Application Development Companies in Denver as they might soon come up with energy saving apps.
The offer is going to value Maxwell’s 45.9 million shares at around $4.75. The merger is being expected to be closed the second quarter of 2019.
Maxwell CEO and President Franz Fink has said in a company announcement that they believe this transaction is going to be in the best interests of the Maxwell stockholders as well as offer the investors with the opportunity for participating in Tesla’s mission of accelerating the advent of the sustainable energy and transport. Mobile application development Denver companies will find this important news as they sit to make the energy saving apps.
Maxwell Technologies main focus was on the ultracapacitors, which is the energy storage devices, which can charge as well as discharge rapidly, as well as perform at a long range of temperatures as well as have a high power density and the long operational life. In December, has sold its high-voltage battery product line to the Renaissance investment Foundation of $55.1 million and that in cash as well as up to $15 million as a potential future milestone payments.
The Maxwell dry electrode technology is the one that is being used to make the ultracapacitors. The company said that this dry electrode technology, can be applied to all the batteries of varying chemistries as well as boost performance, and is a cost-effective as compared to the most commonly used Wet electrode technology. Mobile application development companies in Denver CO have a great technology to share hence through the energy saving apps.
We are going to be looking for the potential acquisitions, which is going to make the sense for the business as well as support the Tesla’s mission for accelerating the World’s transition to the sustainable energy, as being said by the Tesla spokesman.
The Tesla CEO Elon Musk has been the fan of the ultracapacitors as well as has long viewed the technology as being the possible path to a breakthrough in the battery performance. The CEO tweeted back in 2013 that he is going to pursue his PHD at the Stanford University on the ultracapacitors.