NEW YORK (TheStreet) -- Shares of Maxwell Technologies Inc. (MXWL) are higher by 4.14% to $9.80 in late morning trading on Tuesday, after the company announced that Win Inertia, an engineering firm that specializes in power electronics, energy storage, control and communications systems, is using Maxwell's ultracapacitors for a rail system project in Cerro Negro, Spain.
Ultracapacitors store energy in an electric field, unlike batteries which produce and store energy through a chemical reaction, enabling ultracapacitors to charge and discharge in as little as a fraction of a second, Maxwell Technologies said.
Maxwell technologies is a developer, manufacturer, and marketer of energy storage and power delivery products for transportation, industrial, information technology, and other applications and microelectronic products for space and satellite applications.
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The company said Win Inertia will use its ultracapacitors for a stationary wayside breaking energy recuperation system at an electric rail system in Spain.
The recuperation system will use Win Inertia's SHAD hybrid control technology to integrate batteries and Maxwell's ultracapacitors to increase energy recovery efficiency and reduce stress on the batteries, extending battery life, the company said.
Separately, TheStreet Ratings team rates MAXWELL TECHNOLOGIES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: