LONDON (Alliance News) - CAP-XX Ltd on Tuesday said it was encouraged by the interest shown by customers in using small supercapacitors for various products targeting various Internet of Things markets, after reporting good progress across the business.
In a statement to be made at CAP-XX's annual general meeting on Tuesday, Chairman Pat Elliott said he was "very pleased" with the progress made over the past year with large supercapacitors aimed at the automotive market.
Elliott said CAP-XX's customers and potential partners have "continued with rigorous testing" of its existing products both in the field and the lab with "excellent results". The chairman noted CAP-XX has also responded to customer feedback and developed product variations for particular customer needs.
CAP-XX has several new customer projects moving from the development phase towards becoming products, in its established line of prismatic supercapacitors, its Thinline supercapacitors and also a new range of supercapacitors to be released in 2017, Elliott said.
Murata Manufacturing Co Ltd has "continued to expand its efforts in the field of supercapacitors and lithium ion batteries" using CAP-XX's intellectual property, which is translating into higher royalty payments, the chairman said.
Shares in CAP-XX were up 3.4% at 5.17 pence on Tuesday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Cap-xx (CPX)