Ioxus Acquires Advanced Energy Conversion (AEC) to Deliver Full Range Ultracapacitor Cells and Modules

ONEONTA, N.Y.--(BUSINESS WIRE)--Ioxus, Inc., the only U.S. manufacturer of innovative ultracapacitor technologies for military, transportation and alternative energy markets, today announced it has acquired Advanced Energy Conversion (AEC), which specializes in energy conversion systems using embedded controls, power electronics, and electric machines. Ioxus will incorporate AEC products into its current offerings to deliver the most comprehensive, energy-efficient systems solutions for hybrid electric vehicles, wind pitch control and other energy storage applications.

“The acquisition of AEC boosts our ability to quickly customize our products’ design to meet the individual needs of our clients, whether they are looking for individual large cell prismatic electrochemical double layer capacitors (EDLC) or a complete system.”

Ioxus, which worked with AEC on several projects prior to the acquisition, plans to expand AEC’s 12-member staff and retain its New York-based property, creating local jobs and maintaining its status as the only ultracapacitor company manufacturing exclusively in the United States.

“Ioxus is focused on enabling the rapid growth of energy generation and cleantech markets around the world, and the acquisition of AEC’s capabilities in energy conversion systems helps us progress toward that goal,” said Mark McGough, CEO of Ioxus. “The acquisition of AEC boosts our ability to quickly customize our products’ design to meet the individual needs of our clients, whether they are looking for individual large cell prismatic electrochemical double layer capacitors (EDLC) or a complete system.”

For more than 10 years, AEC designed, tested and produced electronic power converters, embedded control systems, and electric machines for customers including John Deere, General Motors, American Electric Power, the Department of the Navy, and the Air Force Research Laboratory. The company earned design awards from NASA and the U.S. Department of Defense, as well as a reputation for providing fast turnaround for customized product development. AEC’s mission to improve efficiency, reduce fuel consumption and add functionality to a variety of power applications mirrors Ioxus’ commitment to creating environmentally friendly devices that improve packaged energy and power density, simplify integration and enhance performance.

David Torrey, formerly of AEC and now Ioxus vice president of engineering, said, “The products we built at AEC complement Ioxus offerings and present the market with a cohesive, yet wide-reaching array of energy storage options that incorporate the highest density and performance with the lowest cost. AEC joins Ioxus at a time in which numerous industries are actively seeking alternative power options, and we look forward to working together as one company to lead the market in fulfilling that need.”

Additional Ioxus Information:

* Ioxus data sheets: http://www.ioxus.com/data-sheets.html

* Ioxus design requests: http://www.ioxus.com/design-request.html

* Ioxus on Twitter: http://www.twitter.com/ioxus

About Ioxus, Inc.

Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by its affiliate company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com.