First high-volume order for Thinline

RNS Number : 0057O

CAP-XX Limited

15 August 2017

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

15 August 2017

CAP-XX Limited

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

First high-volume order for Thinline supercapacitors

CAP-XX, a world leader in supercapacitors, is pleased to announce that it has received its first large order for mass produced Thinline supercapacitors.

The order, received from a US customer, is the first high-volume order received by the Company for an 'Internet of Things' (IoT) wearable technology consumer device for the fitness and health markets and represents CAP-XX's single largest order for Thinline.  The customer will distribute the product to large OEM manufacturers in addition to performing direct sales.

The initial US$0.4m order is for delivery of units commencing in late 2017 and continuing into early 2018.  Mass production by the customer of its product is scheduled to commence in November 2017, with the first sales to consumers targeted for early 2018.  The directors of CAP-XX anticipate securing a follow-on order for in excess of US$1.0m in the first half of 2018.

CAP-XX has numerous other parties evaluating the CAP-XX Thinline supercapacitors for a variety of IoT wearable technology applications and further design wins and high volume orders are expected in due course.

Anthony Kongats, CEO of CAP-XX, commented:

"We are delighted to have secured our first high-volume order for Thinline supercapacitors for an IoT application.  Additionally, we remain confident that our partnerships with Murata and AVX will provide significant additional momentum to the adoption of CAP-XX supercapacitors in numerous very high volume applications across the globe."

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.

 

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