Maxwell Technologies Inc. announced that it is opening a new facility in Peoria, Arizona, its first move outside of it home base in San Diego.
The company claims that an investment of $26 million for this operational expansion will ensure the creation of between 150 and 200 new jobs at the facility.
Maxwell’s new facility is expected to come online late 2012. The company will develop and manufacture ultracapacitors that will be used in numerous industries from renewable energy to transportation. The company will also conduct research and development works at its new facility.
David Schramm, President and Chief Executive of Maxwell Technologies, which employs more than 400 people worldwide, said Arizona’s universities and a favorable business climate helped the company make its decision.
Maxwell builds ultracapacitors, or energy-storage devices that look like batteries. Unlike batteries, which make electricity, ultracapacitors only store electricity. Maxwell’s technology can store energy from multiple sources including lead acid batteries, lithium-ion, as well as windmills or solar panels.