Tesla’s $218M acquisition of ultracapacitor firm opens doors to energy breakthroughs

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Just a few days after Tesla (NASDAQ:TSLA) posted its second consecutive profitable quarter, the company has stated that it plans to acquire energy technology firm Maxwell Technologies, a California-based maker of ultracapacitors and batteries.

“We are always looking for potential acquisitions that make sense for the business and support Tesla’s mission to accelerate the world’s transition to sustainable energy.”

Maxwell Technologies specializes in the development of ultracapacitors. Prior to its acquisition by Tesla, Maxwell had been working on developing dry electrode technologies that could be utilized to create ultracapacitors that can store large amounts of electrical charge without losing energy — a breakthrough for electric cars and energy storage devices. Ultracapacitors are lauded by several industry watchers as a possible alternative to today’s batteries, considering their potential to be safer and more reliable technologies.