LONDON (Alliance News) - Super-capacitors developer CAP-XX Ltd on Tuesday said it has signed a technology licence agreement with US-based AVX Corp, sending its shares higher.
The stock was up 17% to 4.67 pence on Tuesday, one of the best performers in the AIM All-Share.
CAP-XX said it will licence its patents on a non-exclusive basis to AVX, an electronic passive components manufacturer.
CAP-XX expects to get upfront licence fees over a three-year period, plus a 5.0% royalty for the life of the patents.
The initial upfront payments for the first 12 months will be a minimum of GBP1.3 million, CAP-XX said.
"Our partnership with AVX is a further significant step in executing our business model. This licence agreement again highlights the value of our intellectual property and will provide significant additional momentum to the adoption of CAP-XX supercapacitors in numerous very high volume applications across the globe," said Anthony Kongats, CAP-XX's chief executive.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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