Company Update

RNS Number : 9431W

CAP-XX Limited

06 January 2014

 



CAP - XX Limited

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

CAP-XX releases prototype SMD supercapacitor for licencing  evaluation

The Company announces that CAP-XX is ready to ship prototypes of its new surface mount supercapacitor to potential licencees. These surface mount devices are suited for applications for high volume devices, where re-flow solder board assembly is deployed, notably smart phones.

The Company has employed an additional sales manager to cover Asia where it is experiencing growth in demand for its devices.  He is a Korean national with experience in passive component sales including supercapacitors, in Asia, North America and Europe. 

Meanwhile, the Company is experiencing increasing interest from the US and India for its automotive supercapacitors and is in discussions on licensing.

CAP-XX expects to report sales in A$ for the half year to December 31st ,21% ahead  of the corresponding period of 2012/13.  Cash is expected to be A$2.7m as at 31^st December. Together with the cost reduction programme which continues to deliver savings and improved gross margin and a weakening A$, the Company is in line to meet market expectations for the half year and views the remainder of its financial year with confidence.

Anthony Kongats, CAP-XX Chief Executive said:

"We are pleased to start sampling our SMD supercapacitor which addresses a clear industry demand for devices suitable for high volume reflow manufacturing techniques.  We are now actively seeking licensees for this SMD technology.  We remain pleased with the level of interest the Global automotive industry has been expressing in our large prismatic supercapacitors and are in  negotiations with multiple parties.

For further information, please contact:

CAP-XX Limited Anthony Kongats (Chief Executive Officer)	[phone]
Cenkos Securities Stephen Keys/Camilla Hume (Corporate Finance)	[phone]
Kreab Gavin Anderson & Company Robert Speed (Financial PR)	[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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