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LONDON (Alliance News) - CAP-XX Ltd said at its annual general meeting on Monday that it is confident on the outcome for its full financial year.
Shares in CAP-XX were trading down 16% at 5.77 pence Monday morning.
The Australian manufacturer of thin, flat supercapacitors and energy management systems, said it is pleased with the progress made with its large supercapacitors aimed at the automotive market, as well as with its research and development partner Thales and other third-party product development contracts. It expects to continue making progress over the coming months.
"The board is also very encouraged by the interest shown by customers desiring small supercapacitors targeted at the various Internet of Things markets. Murata royalties have more than doubled over the last year, and while still modest in absolute terms, we are pleased that Murata is forecasting increased small supercapacitor sales," Chairman Pat Elliott said at the AGM.
"Our new Thinline range of supercapacitors has been very well received, and we have seen an increasing level of requests for product testing and prototyping in end products. As customers plan for the changes to these new parts, we expect that we will see some deferment of orders from the first half of the financial year to the second half. We remain very excited by the opportunities that we see for our supercapacitors in the automotive markets and the IoT and remain confident for the outcome for the year," he added.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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