AGM Statement

RNS Number : 5947S

CAP-XX Limited

23 November 2011

 



23 November 2011

 

CAP-XX Limited

AGM Statement

Commenting at the Group's AGM in Sydney today, Wednesday November 23rd, CAP-XX Chairman, Michael Quinn said:

"I am delighted to announce that revenues for the first four months of our financial year, to 31 October, are 23% ahead of the corresponding period of 2010/11. Moreover, this growth reflects an underlying 37% increase in product volume and US$ value of sales, before the adverse foreign exchange adjustment. The figures also include a small maiden contribution from the launch of the Murata supercapacitor and I am very encouraged by Murata's plan to ramp up production to one million units a month by the calendar year-end.

I am are also encouraged by the level of interest shown by Automotive Tier-1 suppliers, both from Asia and Europe in our large supercapacitor, developed for automotive stop-start applications.  We have successfully demonstrated the product on the European Drive Cycle, showing a material extension to battery life and improvements in starting and sub-zero performance over battery only systems.  We are currently examining partnering opportunities for this exciting segment.

Finally we are pleased to announce that Murata has independently verified the performance of our surface-mount (SMD) supercapacitor device for high-volume mobile telephone handsets and other consumer electronic products and we look forward to a successful discussions with parties with respect to licensing production."

For further information, please contact

CAP-XX Limited Anthony Kongats, Chief Executive Officer	[phone]
Seymour Pierce Ltd (Nominated Adviser and Broker) David Banks, Nandita Sahgal	[phone]
Kreab Gavin Anderson & Company (Financial PR) Robert Speed, Deborah Walter, Anthony Hughes	[phone]

Notes to Editors:

CAP-XX is a world leader in the design and manufacture of thin form supercapacitors and energy management systems, predominantly for portable electronic devices.

The unique feature of CAP-XX's supercapacitors is their ability to store high volumes of energy and output high power levels within a thin form design.  These attributes will be critical for the next generation of high volume, power-hungry portable electronic devices, including mobile phones.

Portable devices are one of the fastest growing segments of the electronics market and provide the greatest opportunities for CAP-XX's products.  CAP-XX's products are already an established enabling technology for the current generation of wireless devices and portable devices. 

 

END

 

 

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