Last checked at 
LONDON (Alliance News) - CAP-XX Ltd, designer and manufacturer of supercapacitors, said on Tuesday it has received the first payment of GBP1.0 million under its licence agreement with AVX Corp, a supplier of electronic components.
In March, CAP-XX licensed patents to many of its supercapacitor products to AVX on a non-exclusive basis. Under the terms of the licence, CAP-XX will receive annual licence fees, plus quarterly guaranteed minimum royalty payments, over a three year period.
After the three year period, CAP-XX will receive a 5% royalty for the life of the patents, with the royalty being based on the volume of sales of supercapacitors sold by AVX covered by CAP-XX patents. The last of the CAP-XX patents granted expires in 2029.
"Our partnership with AVX will provide significant additional momentum to the adoption of CAP-XX supercapacitors in numerous very high volume applications across the globe. Receipt of the first tranche payment under the licence also strengthens our balance sheet," Said Anthoy Kongats, chief executive of CAP-XX
Shares in CAP-XX were up 6.4% on Tuesday morning at 5.00 pence.
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2016 Alliance News Limited. All Rights Reserved.
