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 Technologies (NASDAQ: MXWL ) is after hours after announcing a partnership with Siemens ( OTCPK:SIEGY ) on a new grid 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 » Subscribe for full text news in your inbox
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