Maxwell Tech +3% on Siemens grid energy system deal [Seeking Alpha]
MAXWELL TECHNOLOGIES (MXWL)
Last maxwell technologies earnings: 11/6 04:05 pm
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Source: Seeking Alpha
Maxwell Tech +3% on Siemens grid energy system dealMaxwell Technologies (NASDAQ:MXWL) isup 3% after hours after announcing a partnership with Siemens (OTCPK:SIEGY) on a newgrid energy storage subsystem.The new Static VAR Compensator is meant to improve control of grids for ISOs, utilities and transmission systems operators and reduce blackout risk.Power faces momentary grid imbalances alongside a rapid increase in solar and wind generation along with decommissioning of coal and gas-fired plants. The new solution is designed to bring economical long-life grid voltage and frequency support.Maxwell ultracapacitors were selected as part of a dense system that takes about two-thirds less space than a comparable battery storage solution, the companies say.See all stocks on the move »Now read:GE Power Continues To Deteriorate Threatening Investment Grade Debt Rating »Subscribefor full text news in your inbox
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