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Maxwell Technologies

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SAN DIEGO, Calif—July 14, 2021--UCAP Power, Inc., a leading developer of ultracapacitor-based
power solutions, today announced it has completed the purchase of Maxwell Technologies Korea, the
Korean-based ultracapacitor business, as well as other related assets including the Maxwell brand.

With the addition of these assets, which includes system patents and products, UCAP Power is
building upon its foundation of success in driving innovation across the energy storage market, most
recently exemplified by the launch of the Company’s POWERBLoK™ battery replacement solution.
POWERBLoK’s unique customer-friendly design incorporates integrated charging and control to
offer a scalable, long-life, safe sustainable alternative to lead-acid batteries.

“We’re thrilled to combine Maxwell Technologies Korea’s ultracapacitor manufacturing capabilities
and one of the largest patent and product portfolios in the industry with the growing family of
products developed by UCAP Power” said Gordon Schenk, CEO of UCAP Power. This combination
creates a clear market leader in the wind turbines, reserve power, automotive transportation,
microgrid application markets.

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