Aluminum Electrolytic Capacitors (Radial Lead Type) Radial Lead Type Series : HD Type : A Features Endurance : 105 C 1000 h to 2000 h Higher Capacitance : 1 Size Miniturized Product of Current A-NHG RoHS compliant Minaturize, Specifications Category temperature range Rated voltage range Capacitance range Capacitance tolerance -55 C to +105 C 10 V.DC to 50 V.DC 2.2 F to 22000 F 20 % (120 Hz/+20 C) Leakage current I < 0.01 CV or 3 (A) After 2 minutes (Which is greater) Dissipation factor (tan d) Please see the attached characteristics list After following life test with DC voltage and +105 C2 C ripple current value applied (The sum of DC and ripple peak voltage shall not exceed the rated working voltage), When the capacitors are restored to 20 C, the capacitors shall meet the limits specified below. Endurance Duration : 05 to 08=1000 hours, 010 to 018=2000 hours Capacitance change Within 20 % of the initial value tan d < 200 % of the initial limit DC leakage current Within the initial limit After storage for 1000 hours at +105 C2 C with no voltage applied and then being stabilized at +20 C, capacitors shall meet the limits specified in Endurance. (With voltage treatment) Shelf life Frequency correction factor for ripple current Rated voltage (V.DC) 2.2 10 to 50 Frequency (Hz) Capacitance (F) 60 120 1k 10 k 100 k to 33 0.75 1.00 1.55 1.80 2.00 47 to 470 0.80 1.00 1.35 1.50 1.50 1000 to 22000 0.85 1.00 1.10 1.15 1.15 fd0.05 Dimensions Sleeve Pressure relief 06.3 < < 08 010 < + L 14 min. 0D0.5 3 min. F0.5 - 0D0.5 L < 16 : L1.5 L > 20 : L2.0 (Unit : mm) 0D 0d F 5 0.5 2.0 6.3 0.5 2.5 8 0.6 3.5 10 0.6 5.0 12.5 0.6 5.0 16 0.8 7.5 18 0.8 7.5 Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 05 Mar. 2016 Aluminum Electrolytic Capacitors (Radial Lead Type) Characteristics list Endurance : 105 C 05 to 08=1000 h, 010 to 018=2000 h Case size (mm) Rated Cap. voltage (20 %) (V.DC) (F) 0D L 330 470 1000 2200 4700 6800 10000 15000 22000 100 220 330 470 3300 4700 6800 8200 10000 15000 47 68 100 220 330 470 1000 2200 3300 4700 5600 6800 10000 47 100 220 330 470 680 2200 3300 4700 6800 6.3 8 10 10 12.5 12.5 16 16 18 5 6.3 8 8 12.5 12.5 16 16 16 18 5 5 6.3 8 8 10 10 12.5 12.5 16 16 16 18 5 6.3 8 10 10 10 12.5 16 16 18 11.2 11.5 12.5 16 20 25 25 31.5 35.5 11 11.2 11.5 11.5 20 25 25 25 31.5 35.5 11 11 11.2 11.5 11.5 12.5 16 20 25 25 25 31.5 35.5 11 11.2 11.5 12.5 16 16 25 25 31.5 35.5 10 16 25 35 Specification Lead length (mm) Ripple Lead space Lead current tan d Endurance dia. (120 Hz) (120 Hz) Taping Taping (hours) (+105 C) (+20 C) 0d Straight B H (mA r.m.s.) 200 0.24 1000 0.5 2.5 5.0 2.5 250 0.24 1000 0.6 3.5 5.0 460 0.24 2000 0.6 5.0 5.0 760 0.26 2000 0.6 5.0 5.0 1260 0.30 2000 0.6 5.0 5.0 1570 0.34 2000 0.6 5.0 5.0 1890 0.42 2000 0.8 7.5 7.5 2180 0.52 2000 0.8 7.5 2400 0.66 2000 0.8 7.5 110 0.20 1000 0.5 2.0 5.0 2.5 180 0.20 1000 0.5 2.5 5.0 2.5 260 0.20 1000 0.6 3.5 5.0 310 0.20 1000 0.6 3.5 5.0 1170 0.24 2000 0.6 5.0 5.0 1480 0.26 2000 0.6 5.0 5.0 1780 0.30 2000 0.8 7.5 7.5 1780 0.34 2000 0.8 7.5 7.5 2060 0.38 2000 0.8 7.5 2210 0.48 2000 0.8 7.5 91 0.16 1000 0.5 2.0 5.0 2.5 91 0.16 1000 0.5 2.0 5.0 2.5 130 0.16 1000 0.5 2.5 5.0 2.5 230 0.16 1000 0.6 3.5 5.0 310 0.16 1000 0.6 3.5 5.0 380 0.16 2000 0.6 5.0 5.0 680 0.16 2000 0.6 5.0 5.0 1090 0.18 2000 0.6 5.0 5.0 1400 0.20 2000 0.6 5.0 5.0 1750 0.22 2000 0.8 7.5 7.5 1750 0.24 2000 0.8 7.5 7.5 2040 0.26 2000 0.8 7.5 2200 0.34 2000 0.8 7.5 90 0.14 1000 0.5 2.0 5.0 2.5 150 0.14 1000 0.5 2.5 5.0 2.5 270 0.14 1000 0.6 3.5 5.0 350 0.14 2000 0.6 5.0 5.0 460 0.14 2000 0.6 5.0 5.0 460 0.14 2000 0.6 5.0 5.0 1260 0.16 2000 0.6 5.0 5.0 1610 0.18 2000 0.8 7.5 7.5 1910 0.20 2000 0.8 7.5 2050 0.24 2000 0.8 7.5 Min. Packaging Q'ty Part No. EEUHD1A331( ) EEUHD1A471( ) EEUHD1A102( ) EEUHD1A222( ) EEUHD1A472( ) EEUHD1A682( ) EEUHD1A103( ) EEUHD1A153 EEUHD1A223 EEUHD1C101( ) EEUHD1C221( ) EEUHD1C331( ) EEUHD1C471( ) EEUHD1C332( ) EEUHD1C472( ) EEUHD1C682( ) EEUHD1C822( ) EEUHD1C103 EEUHD1C153 EEUHD1E470( ) EEUHD1E680( ) EEUHD1E101( ) EEUHD1E221( ) EEUHD1E331( ) EEUHD1E471( ) EEUHD1E102( ) EEUHD1E222( ) EEUHD1E332( ) EEUHD1E472( ) EEUHD1E562( ) EEUHD1E682 EEUHD1E103 EEUHD1V470( ) EEUHD1V101( ) EEUHD1V221( ) EEUHD1V331( ) EEUHD1V471( ) EEUHD1V681( ) EEUHD1V222( ) EEUHD1V332( ) EEUHD1V472 EEUHD1V682 Straight Taping leads (pcs) (pcs) 200 200 200 200 200 200 100 100 50 200 200 200 200 200 200 100 100 100 50 200 200 200 200 200 200 200 200 200 100 100 100 50 200 200 200 200 200 200 200 100 100 50 2000 1000 500 500 500 500 250 2000 2000 1000 1000 500 500 250 250 2000 2000 2000 1000 1000 500 500 500 500 250 250 2000 2000 1000 500 500 500 500 250 * When requesting taped product, please put the letter "B" or "H" between the "( )". Lead wire pitch B=5 mm, 7.5 mm, H=2.5 mm. * Please refer to the page of "Taping dimensions". Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 05 Mar. 2016 Aluminum Electrolytic Capacitors (Radial Lead Type) Characteristics list Endurance : 105 C 05 to 08=1000 h, 010 to 018=2000 h Case size (mm) Rated Cap. voltage (20 %) (V.DC) (F) 50 0D L Specification Lead length (mm) Ripple Lead space current tan d Lead Part No. Endurance (120 Hz) (120 Hz) dia. Taping Taping (hours) Straight (+105 C) (+20 C) 0d B H (mA r.m.s.) 18 0.12 1000 0.5 2.0 5.0 2.5 EEUHD1H2R2( ) Min. Packaging Q'ty Straight Taping leads (pcs) (pcs) 2.2 5 11 200 2000 3.3 5 11 22 0.12 1000 0.5 2.0 5.0 2.5 EEUHD1H3R3( ) 200 2000 4.7 5 11 26 0.12 1000 0.5 2.0 5.0 2.5 EEUHD1H4R7( ) 200 2000 10 5 11 39 0.12 1000 0.5 2.0 5.0 2.5 EEUHD1H100( ) 200 2000 22 5 11 65 0.12 1000 0.5 2.0 5.0 2.5 EEUHD1H220( ) 200 2000 33 5 11 90 0.12 1000 0.5 2.0 5.0 2.5 EEUHD1H330( ) 200 2000 47 6.3 11.2 110 0.12 1000 0.5 2.5 5.0 2.5 EEUHD1H470( ) 200 2000 68 2.5 6.3 11.2 110 0.12 1000 0.5 2.5 5.0 EEUHD1H680( ) 200 2000 100 8 11.5 180 0.12 1000 0.6 3.5 5.0 EEUHD1H101( ) 200 1000 220 10 12.5 300 0.12 2000 0.6 5.0 5.0 EEUHD1H221( ) 200 500 330 10 16 410 0.12 2000 0.6 5.0 5.0 EEUHD1H331( ) 200 500 470 10 20 530 0.12 2000 0.6 5.0 5.0 EEUHD1H471( ) 200 500 560 16 15 650 0.12 2000 0.8 7.5 7.5 EEUHD1H561S( ) 100 250 680 16 15 650 0.12 2000 0.8 7.5 7.5 EEUHD1H681S( ) 100 250 5.0 500 1000 12.5 25 950 0.12 2000 0.6 5.0 EEUHD1H102( ) 200 2200 16 31.5 1470 0.14 2000 0.8 7.5 EEUHD1H222 100 3300 18 35.5 1770 0.16 2000 0.8 7.5 EEUHD1H332 50 * When requesting taped product, please put the letter "B" or "H" between the "( )". Lead wire pitch B=5 mm, 7.5 mm, H=2.5 mm. * Please refer to the page of "Taping dimensions". Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 05 Mar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b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b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b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