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LONDON (Alliance News) - Supercapacitors developer CAP-XX Ltd on Monday said it has extended its memorandum of understanding in place with an automotive components company and that it has made progress on its Thinline range.
The company said the agreement with the unnamed automotive components firm has been extended by a further year, with no financial details given. The deal covers CAP-XX's large automotive supercapacitors for a standalone system designed for both original equipment and aftermarket applications.
In addition, CAP-XX said it has made good progress on its Thinline range of supercapacitors, which is targeting the Internet of Things space. it said the number of customers evaluating the range has increased, with one customer planning mass production trials.
CAP-XX shares were up 6.2% to 2.575 pence early Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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