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Maxwell Technologies awarded $1.7 million DARPA contract

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San Diego-based Maxwell Technologies Inc. (Nasdaq: MXWL) said it has been awarded a $1.7 million technology development contract by the Defense Advanced Research Projects Agency (DARPA) for the initial phase of a multi-phase program to develop a lighter, longer-lasting, energy source for field radios and other portable electronic equipment carried by military personnel.

Maxwell will lead a team, including the U.S. Navy and the University of Massachusetts, that is tasked with developing an energy storage device combining an advanced capacitor module, an advanced battery pack and power management electronics.

The goal of the program is to develop an enhanced energy source that will provide extended run time and longer operational life than existing batteries alone, thereby reducing the requirement to carry heavy, bulky, spare batteries. To ensure that field military personnel are energy self-sufficient during extended missions, they typically carry primary and spare batteries weighing more than 60 pounds to power a growing assortment of portable electronic equipment.

The award provides funding for an initial, one-year phase, with options for two additional phases which, when approved, would result in total funding of up to approximately $8 million.

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