Maxwell Signs $47 Million Strategic Equity Investment Agreement with China’s SDIC Fund Management
May 01, 2017 | Maxwell Technologies
In April, Maxwell signed a stock purchase agreement with SDIC Fund Management Co., Ltd. The agreement is significant for the following reasons:
- Enhances access to China’s largest automotive battery companies through SDIC Fund Management’s investments in leading Chinese battery companies
- Deepens Maxwell’s existing China localization strategy in one of the largest and fastest growing energy storage markets for transportation and grid
- Significantly strengthens Maxwell’s balance sheet, providing for solid investment in strategic technology development programs
SDIC Fund Management has significant investments in China’s energy storage industry, including top battery companies, major system integrators in the new energy market, as well as leading OEMs in the China auto and grid industries.
"We are delighted to partner with Maxwell Technologies," said Mr. Gao Guohua, Chairman of SDIC Fund Management. "We conducted comprehensive diligence, concluding that Maxwell has a world-class team with the vision and sound strategy needed to leverage their innovative dry electrode technology. We believe this technology has the potential to transform energy storage, addressing a substantial market opportunity, especially in China. We are excited about Maxwell’s future growth prospects and the value that each party brings to this new alliance."
To read the press release, click here.
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