Cap-xx Share News (CPX)

(ShareCast News) - Supercapacitor company CAP-XX announced on Wednesday that it has achieved significant production cost savings on its supercapacitor solutions for both passenger vehicle and heavy vehicle automotive applications.The AIM-traded firm had announced in June that it had secured three new orders for evaluation units of large supercapacitor systems.It said the customers comprise a North American vehicle manufacturer, an Asian Tier-1 OEM and an Asian distributor/OEM.The company also announced that it was in advanced negotiations with additional North American and Asian OEMs for the supply of evaluation units and for the licensing of its technology.Since June, development work undertaken by CAP-XX's research and development team in conjunction with its engineering team has resulted in a significant lowering of the cost of production of its supercapacitor products for automotive applications.It said the changes, which include the development of a proprietary electrode and the incorporation of new materials and processes, have resulted in significant reductions in the costs of materials and processing, while further enhancing the supercapacitors' already industry leading performance.As a result, once full commercialisation has been achieved, the company now expects to see the truckStart module selling to truck OEMs and aftermarket chains for less than $500, a significant reduction from the $1,000 price that was previously envisaged.Meanwhile, CAP-XX said it remains in developed discussions with numerous companies regarding licensing its technology or entering into joint ventures on both an exclusive and non exclusive basis, which will benefit from the reported engineering and cost benefit enhancements."We have responded to the demands of our international customer base for a cost competitive product which our R&D and engineering teams have delivered," said chief executive Anthony Kongats."At a significantly lower market entry price point, we believe that our automotive supercapacitors have a broader range of potential applications for energy capture and storage to support traditional batteries."