CAP-XX automotive MoU extended & Thinline progress

RNS Number : 0041P

CAP-XX Limited

15 February 2016

 

15 February 2016

CAP-XX Limited

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

CAP-XX automotive MoU extended and Thinline progress

CAP-XX, a world leader in supercapacitors, is pleased to announce that its memorandum of understanding ("MoU") with a Global Tier-1 automotive components company has been extended and further progress with its new Thinline family of supercapacitors for the internet of things (IoT) . 

The automotive MoU, is for the development of CAP-XX's large automotive supercapacitors for a standalone system that can serve both original equipment and aftermarket applications.  It was originally announced in February 2015 and has been extended at the request of CAP-XX's customer beyond its originally envisaged term of one year.  The system is the first commercial application for CAP-XX's large, automotive supercapacitors produced at the Lane Cove facility since the prototype production line was launched in 2013.   

CAP-XX subsequently announced in June 2015 that the customer had placed orders for additional evaluation units.  The customer has now been operating the system in trucks for over eight months without fault and, following this evaluation, has requested an extension of the MoU and the associated period of exclusivity on a continuing basis.

CAP-XX's Thinline family of supercapacitors for applications in the IoT is showing good progress.  The number of customers actively evaluating CAP-XX's Thinline supercapacitors continues to increase, with one lead customer planning mass production trials.

The Company will release its interim results for the half year to December 2015 in March 2016.

CAP-XX's Chief Executive, Anthony Kongats, said:

"The collaboration with our MoU partner has provided CAP-XX with a new dimension of technological resources and first-class global distribution channels.  We are delighted to continue to work with our partner with the goal of commercialising this technology for the global marketplace.  We are also pleased to be able to report continuing progress with our Thinline range of small supercapacitors aimed at applications in the internet of things."

For further information, please contact:

CAP-XX Limited
Anthony Kongats (Chief Executive Officer)	[phone]
Allenby Capital Limited (Nominated Adviser and Broker)
David Hart / Alex Brearley	[phone]
Kreab (Financial PR)
Robert Speed	[phone]

Notes to editors

About CAP-XX

CAP-XX (LSE:CPX) is a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems used in portable and small-scale electronic devices, and to an increasing extent, in larger applications such as automotive and renewable energy. The unique feature of CAP-XX supercapacitors is their very high power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics, and deliver similar benefits in automotive and other transportation applications. For more information about CAP-XX, visit www.cap-xx.com. 

 

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