CAP-XX secures joint venture with Ionic Industries

RNS Number : 1994K

CAP-XX Limited

04 May 2022

 

Dissemination of a Regulatory Announcement that contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 .

4 May 2022

 

 

CAP-XX Limited

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

CAP-XX secures exclusive joint venture with Ionic Industries for transformational new graphene material

CAP-XX Limited, a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems, is pleased to announce that it has signed a binding term sheet (the "Agreement") in relation to a joint venture ("JV") with Ionic Industries Limited ("Ionic") for the commercialisation of reduced graphene oxide ("rGO") for supercapacitors and other energy storage devices.

Highlights:

· CAP-XX and Ionic have entered into the Agreement to exclusively commercialise Ionic's rGO material for supercapacitors and other energy storage devices

· The rGO material's highly conductive structure improves the packing density of the active materials in devices' electrodes, while maintaining high power performance

· Ionic's rGO graphene oxide technology has already been shown to increase electrode energy density by over 100% compared to CAP-XX's current electrode. This is expected to translate into supercapacitor energy densities of 15 to 20   watt-hours (Wh)/litre or 10-15 Wh/kg, which is approaching the energy density of lead acid batteries, while aiming to provide significantly superior power density and cycle life

· supercapacitors utilising rGO material are expected to serve a wide range of applications including: electric vehicles; vehicles powered by internal combustion engines; microgrid storage; smart meters; e-locks, asset trackers and various IoT devices

· In addition, rGO materials are expected to have applications across a range of hybrid capacitors and batteries

· CAP-XX's Customers are expected to receive samples around mid-2024

Ionic Industries is an Australian company based in Melbourne, developing new forms of graphene for a variety of markets. Its work on commercialising graphene materials began in collaboration with Monash University in 2011. Ionic's collaboration with Monash has resulted in six government grant programs, numerous publications and global recognition, notably in the field of energy storage.

Pursuant to the Agreement, Ionic will procure a licence for rGO in favour of the JV, which will have exclusive worldwide use of these materials for supercapacitors, batteries and other energy storage devices and Ionic will sell rGO products to the JV. CAP-XX will manufacture and sell supercapacitors and energy storage devices using rGO, on behalf of the JV, under the CAP-XX brand.

The Agreement is subject to the completion of various conditions precedent and the establishment of a joint venture vehicle, which will be owned on a 51% CAP-XX : 49% Ionic basis.

Peter Armitage, Chairman of Ionic Industries, said:

"We are delighted to be working exclusively with CAP-XX, which is universally recognised as one of the world's leading developers, researchers and manufacturers of supercapacitors and energy storage devices. This joint venture is further important validation of Ionic's transformational energy storage technologies."

Anthony Kongats, CEO of CAP-XX, said:

"We are delighted to have formed this joint venture with Ionic, which gives CAP-XX the opportunity to commercialise a new class of supercapacitors with significantly higher energy densities using Ionic's proprietary reduced graphene oxide.   Our immediate goal is to translate the rGO technology into a system that can meet all the stringent performance and specification requirements of commercial supercapacitors."

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 / Pete Lynch	[phone]

More information is available at www.cap-xx.com

Notes to Editors:

Ionic Industries is a Melbourne, Australia based company developing new forms of graphene for a variety of markets. Ionic's work on commercialising graphene materials began in collaboration with Monash University in 2011.  The company's work has focused on nano-filtration for water treatment, energy storage and, more recently, conductive coatings for sensing applications. The collaboration with Monash has resulted in six government grant programs with a combined value of over $3 million, numerous publications and global recognition, particularly in the field of energy storage.  In addition to government grants, Ionic's work has been funded through approximately $4 million in equity investment. Ionic has also entered into a binding agreement to acquire the advanced materials company Imagine Intelligent Materials, including plant and equipment for the production of graphene materials and over 20 patents on the applications of graphene materials.  Ionic operates from its factory and laboratory facilities in Mt. Waverley, in close proximity to Monash University. 

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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