[2] The company was founded in 1965 as Maxwell Laboratories Inc. by Raymond C. O'Rourke, Alan Kolb, Bruce Hayworth, and Terrence C. Gooding in San Diego, California.

In 2007, Maxwell Technologies won US$3 million contract from Astrium Satellites to supply computers for European Space Agency’s ‘Gaia’ Astronomy mission.

[7][needs update] In April 2016, Maxwell completed the sale of its microelectronics product line to Data Device Corporation.

[8] In April 2017, Maxwell Technologies acquired all assets, "core business and operating entities"[9] of Nesscap Energy Inc.[10] for $23.175 million.

[11] In February 2019, electric vehicle and clean energy company Tesla, Inc. announced that it planned to acquire Maxwell Technologies.