Tesla (TSLA) sells again Maxwell Know-how’s ultracapacitor enterprise to former executives

Tesla (TSLA) has offered again Maxwell Know-how’s ultracapacitor enterprise and model after buying it simply over two years in the past.

Again in 2019, Tesla introduced the acquisition of Maxwell Know-how, a San Diego-based ultracapacitor and battery firm, for over $200 million.

Whereas the corporate was largely recognized for its ultracapacitor enterprise, it had simply developed a dry electrode know-how for battery cells, and Tesla revealed that it’s what the automaker was actually after.

Tesla used the know-how in its 4680 battery cell unveiled final 12 months.

Nonetheless, Tesla built-in Maxwell’s ultracapacitor enterprise into the corporate, however it wasn’t clear if it deliberate to make use of the know-how in its personal merchandise.

Two years later, it by no means did, and we’ve now discovered that it offered Maxwell’s ultracapacitor enterprise to UCAP Energy, one other ultracapacitor enterprise.

UCAP made the announcement in a press launch final week:

“UCAP Energy, Inc., a number one developer of ultracapacitor-based energy options, immediately introduced it has accomplished the acquisition of Maxwell Applied sciences Korea, the Korean-based ultracapacitor enterprise, in addition to different associated belongings together with the Maxwell model.”

The announcement made it sound like UCAP is buying Maxwell’s ultracapacitor manufacturing primarily based in Korea and the corporate’s ultracapacitor IP.

UCAP employs a number of former Tesla and Maxwell staff.

CEO Gordon Schenk was VP of gross sales for the Maxwell division underneath Tesla:

Schenk commented on the brand new acquisition from Tesla:

“We’re thrilled to mix Maxwell Applied sciences Korea’s ultracapacitor manufacturing capabilities and one of many largest patent and product portfolios within the business with the rising household of merchandise developed by UCAP Energy. This mixture creates a transparent market chief within the wind generators, reserve energy, automotive transportation, microgrid utility markets.”

They didn’t disclose how a lot they paid for buying the Maxwell belongings.

When Tesla purchased the corporate again in 2019, it paid $235 million, all in TSLA shares.

Electrek’s Take

To me, it seems to be like that Maxwell staff who have been extra concerning the ultracapacitor enterprise determined to depart and create their very own firm after Tesla’s acquisition.

Then, they went again to Tesla to purchase again the ultracapacitor enterprise, which the automaker didn’t appear to care a lot about.

It seems to be like a win-win scenario. Although, I’d be curious to understand how a lot they paid since it could give us a greater thought of a lot Tesla truly paid for the dry electrode know-how.

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