(Alliance News) - CAP-XX Ltd on Monday said it had settled a patent licence case with Kyocera AVX in an Australian supreme court, allowing it to "focus fully" on its core business activities.
CAP-XX is a Sydney-based manufacturer of supercapacitors for portable electronic devices.
In early 2022, the company revealed that it was pursuing action against Kyocera AVX in relation to an alleged breach of the pair's patent licence agreement and unpaid royalties to CAP-XX.
Kyocera AVX is an electronic component manufacturer, and a subsidiary of the Kyoto-based Kyocera Corporation.
The pair have agreed to settle the litigation in the Supreme Court of New South Wales, with each party agreeing to settle its own costs.
CAP-XX said that it now has "no exposure to any costs incurred by Kyocera AVX".
CAP-XX said that, following the resolution, the company has no outstanding litigation matters, and will now "focus fully on continuing to progress the CAP-XX business".
Shares in CAP-XX remain suspended, last quoted at 0.10 pence each on March 26.
By Hugh Cameron, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Cap-xx (CPX)