The final piece of the puzzle came from SpaceX. So, buying this company for $218 million seems like a steal for Tesla, right? It’s another one of the laundry list of items that investors and analysts seem to not fully appreciate how much this may push Tesla even further ahead of the competition. The new battery pack, that will probably go into production next year, is designed explicitly for 1,000,000 miles of operation. Sign up for our free daily newsletter or weekly newsletter to never miss a story. (adsbygoogle = window.adsbygoogle || []).push({}); Appreciate CleanTechnica’s originality? A group of Peruvian scientists came up with an important part of the puzzle: the “pearl well” (at least, that’s what it’s called according to my translations). Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon. When asked about the Maxwell Technologies integration at the Tesla Autonomy Day event, Elon responded: “I mean, you're really asking some super secret sauce questions here. There has been a ton of speculation about why Tesla bought Maxwell Technologies. Maxwell Technology was a company specialized in high-quality supercapacitors. Moreover, to meet potential growth in demand for our products, particularly for our ultracapacitor products, we will need significant resources for customized production equipment.". Second, energy density. ©2019 by Pivotal Capital. $4.75 per share. Tags: Maxwell Technologies, Tesla, Tesla batteries, Tesla Maxwell. Maxwell Technologies DBE production method, which also offers improved performance and longevity, is the chocolate. I would not be surprised if the capacitor business gets a management buyout after the battery technology is transferred to Tesla. The latter company will commence an all stock A supercapacitor is a kind of electricity storage device that can charge and discharge very fast and many thousands of times without any wear and tear. The original proposal was from February 4th, 2019, and was discussed well by our authors in “Tesla Inks Deal To Acquire Maxwell Technologies In Stock Deal” and “The Ultracapacitors, Electrodes, & Battery Manufacturing Tech Tesla Gets With Maxwell Technologies.”. Eventually, the company partnered with Chrysler, which was working on an early hybrid drive unit in 1977. In a special project with NASA’s Eagleworks Laboratories, technicians discovered that the White-Juday Warp Field Interferometer (NASA.gov) could be used as a quantum discriminator when modified with some custom-pounded copper strips provided by a confused military officer who had been called in to help. This led to further testing that determined that some sort of quantum effect was likely involved. The patents were sold to General Electric, which couldn’t make any further progress. It’s a long story, but it’s well worth the read. If you take a look at Maxwell's most recent quarterly SEC filing (Q3 2018 Form 10-Q) and read all the way to page 44 (of 49, by the way) you will see this pesky little detail: "Namely, the development of dry battery electrode technology requires a substantial amount of capital. When other engineers were watching, it wouldn’t work. Are they going to spend the necessary money to develop these products? Well, according to this article from Fortune, "Maxwell has been developing patented dry electrode technologies that can be used to create ultracapacitors that store large amounts of electrical charge without losing energy.". Usually in the manufacturing of lithium batteries the materials are sprayed on with toxic solvents that then have to be dried or baked off. Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon. The obvious but vague answer is that its battery technology will improve Tesla… As if tooling for Model Y production, building the China factory, developing the Tesla Semi, expanding service capabilities, developing the solar roof and the Roadster 2 weren't enough already. and manufacturer of energy solutions perhaps best known for its ultracapacitor-based The entire vehicle … battery pack inclusive … is designed to operate for 1,000,000 miles with minimal maintenance.”4 That’s a pretty bold statement to make and is clearly tied to the DBE method they just acquired, but I’m not convinced it’s solely on the DBE production technique. Maxwell Technology was a company specialized in high-quality supercapacitors. The questions are how fast this can be incorporated into the Panasonic processes at GF1, and how big the savings will really be. According to our sources, Maxwell further developed the technology, but could only get it working when certain engineers were observing. Tesla already has a tremendous lead over the competition when it comes to their motors, software, electronics, and batteries. Maarten Vinkhuyzen Grumpy old man. Either way, it appears that they’ve learned to be a little more discreet about future products to avoid the whole problem. But the density of energy is very low, making supercapacitors unusable as permanent storage. To become so valuable, you need customers for your batteries and/or other battery companies willing to use your technology for a fee. Here’s my take on all the information we have so far. In case you don’t know who the company is, Maxwell Technologies is an American energy storage company that was founded in 1965. They announced this deal the Monday after CFO Deepak Ahuja announced his departure in the final 4 minutes of the Q4 2018 earnings call, which raises more questions that I won't get to today. Want to publish a press release on CleanTechnica? It certainly couldn’t be used as a “quantum discriminator” — which is a fictional device from Star Trek: Enterprise. This should immediately help with Supercharging times, right? While the industry as a whole is on the up and up, there is no shortage of people who are outright swindling others with big promises. Please read this post to the end, as it’s very easy to misunderstand this if you don’t get the whole story. The exchange offer expired at 11:59 p.m., Eastern Time, on Wednesday, May 15, 2019. Did I mention that Maxwell was charged with accounting fraud by the SEC? For the first time in more than a year, Tesla (NASDAQ: TSLA) has announced an acquisition, and it is a company with a presence within the trucking industry. Unfortunately, the technology of the day wasn’t up to the task of integrating this with other automotive drive components. well-respected and world-class innovator that shares a common goal of building With the DBE method, you skip that step completely which results in a 16x production capacity increase. That will probably be good for Tesla in the long run. HIs group used to have a 20-year research agreement with 3M, but in 2016 he associated with Tesla. They are not shares any more — they are essentially IOUs. Regardless, with those two things combined you end up with something that could launch Tesla even further ahead of the competition. They’re primarily known for their commercial products and ultracapacitors. Jennifer Sensiba Jennifer Sensiba is a long time efficient vehicle enthusiast, writer, and photographer. 16% Plugin Vehicle Market Share In Germany! Why did they make this acquisition? Or as Elon said ... a battery pack rated for 1,000,000 miles. subsidiary of Tesla. Be sure to stay on your toes. This will lead to vehicles with significantly more range. Yes, we are widely regarded as a reputable source for information, but keep in mind that everybody gets fooled sometimes. Maxwell Technologies Merges With Tesla 18th February 2019 11th September 2019 celmore Maxwell Technologies , Tesla Inc. Maxwell Technologies Inc. a developer and manufacturer of energy solutions perhaps best known for its ultracapacitor-based Engine Start Module designed for heavy-duty trucks, has entered into a definitive agreement to be acquired by Tesla Inc. Apple has been design it’s own silicon for their iPhones, iPads, and Apple Watches for years now. This implies that the company is not spending nearly as much as they would need to complete all of these projects, or even maintain their current facilities. Ultimately, I cannot say whether this was just a bad M&A deal or something more sinister. Maxwell's stock closed at $3.07 on February 1, 2019. Without a massive capital raise, I don't think they can. It may have something promising, or it might still be trying to determine what it’s working with. This investment valued the company at $203.96 million just under two years ago. I cannot prove the premium paid by Tesla was a result of pressure from the Chinese government, but all three parties involved have a history of shady/illegal business practices. Third, is battery life. By comparison, Tesla’s current battery technology, which is considered one of the highest densities available today, is believed to be around 250 Wh/kg.3 That means this technique could add about 23% to Tesla’s current battery density with room to double it. Many factors could cause actual results or events to differ materially from those anticipated, including: risks and uncertainties discussed in this communication and those matters described under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of Tesla’s Annual Report on Form 10-K for the year ended December 31, 2018 and Tesla’s Quarterly Report on Form 10-Q for the three months ended March 31, 2019, subsequent Reports on Form 8-K, the Schedule TO relating to the offer and other filings Tesla makes with the Securities and Exchange Commission. It is a short but very important announcement. Oh, and it just so happens that Maxwell was the Chinese SDIC's only U.S. investment: In summary, Tesla paid a huge premium for a struggling company on the verge of bankruptcy.
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