CAP-XX Achieves PSW from Continental Automotive

RNS Number : 5084W

CAP-XX Limited

18 April 2023

 

18 April 2023

CAP-XX Limited

("CAP-XX" or the "Company")

CAP-XX Achieves PSW from Continental Automotive

Sydney, Australia - April 18, 2023 - CAP-XX Limited (LSE:CPX), the leading manufacturer of ultra-thin prismatic, cylindrical, and Lithium-Ion supercapacitors, announced that Continental Automotive GmbH, a global Tier 1 automotive supplier, has granted the PSW (Part Submission Warrant) to CAP-XX, following the Company's successful completion of Continental's PPAP (Production Part Approval Process).  The two companies previously signed a Sourcing Agreement for CAP-XX to supply its DMT220 prismatic supercaps in the volumes needed from 2024 through 2030 for a key Continental automotive program. CAP-XX has now completed the stringent quality audit for this agreement.

Continental's PPAP analyzed 18 requirements such as design records, Failure Modes and Effects Analysis, authorized engineering changes, engineering approval, dimensional results, and control plan. Also, as part of this PPAP, CAP-XX was successfully audited according to VDA 6.3, a process-based audit standard for improving new product introduction and manufacturing processes, used by German-based automotive industries (Verband der Automobilindustrie).

The CAP-XX DMT220 supercapacitor, previously manufactured by Murata under license from CAP-XX, is now produced in CAP-XX's new high-capacity factory at Seven Hills, NSW, Australia using production lines acquired and successfully recommissioned from Murata. DMT220 features include:

· 220 mF Capacitance / Rated at 4.2 Volts

· High temperature operation -40°C to 85°C

· Ultra-thin form factor 21 x 14 x 2.2mm thin

· High charge efficiency with long life, up to 20 years or 1,000,000 charge discharge cycles

"Successfully completing this time and resource-intensive quality standard to meet the most stringent requirements of the German automotive industry is an endorsement to CAP-XX's product and manufacturing capabilities, and paves the way for CAP-XX to join other European automotive projects" said Marco Ranalli, GM of CAP-XX Europe.

For further information contact:

CAP-XX Limited Anthony Kongats (CEO)	[phone]
Kreab (Financial PR) Robert Speed	[phone]
Allenby Capital (Nominated Adviser and Joint Broker) David Hart / Alex Brearley (Corporate Finance) Tony Quirke (Sales and Corporate Broking)	[phone]
Cenkos Securities plc (Joint Broker) Neil McDonald / Pearl Kellie	[phone]

About CAP-XX

CAP-XX is the leader in the design and manufacture of supercapacitors, including ultra-thin prismatic, cylindrical and hybrid (lithium-ion capacitors), for managing burst power, micro energy harvesting and backup power needs in portable and IoT devices. CAP-XX also offers large, powerful supercapacitor modules for engine start and other microgrid/grid/power correction applications up to 2000V. CAP-XX prismatic supercapacitors are manufactured in Australia and Malaysia and its cylindrical and hybrid supercapacitors are manufactured in China and the USA. The company's strong intellectual property (IP) portfolio includes 11 patent families. CAP-XX's ultra-thin prismatic supercapacitors are ideal for space-constrained electronics applications where small energy storage device size and thickness are critical. Visit  https://www.cap-xx.com/  or email  [e-mail] .

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