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Strange after years of making no cash this was the year it was all going to happen.
CAP-XX Achieves PSW from Continental Automotive
18 Apr 2023 07:00
RNS Number : 5084W
CAP-XX Limited
18 April 2023
18 April 2023
CAP-XX Limited
("CAP-XX" or the "Company")
CAP-XX Achieves PSW from Continental Automotive
Sydney, Australia - April 18, 2023 - CAP-XX Limited (LSE:CPX), the leading manufacturer of ultra-thin prismatic, cylindrical, and Lithium-Ion supercapacitors, announced that Continental Automotive GmbH, a global Tier 1 automotive supplier, has granted the PSW (Part Submission Warrant) to CAP-XX, following the Company's successful completion of Continental's PPAP (Production Part Approval Process). The two companies previously signed a Sourcing Agreement for CAP-XX to supply its DMT220 prismatic supercaps in the volumes needed from 2024 through 2030 for a key Continental automotive program. CAP-XX has now completed the stringent quality audit for this agreement.
Continental's PPAP analyzed 18 requirements such as design records, Failure Modes and Effects Analysis, authorized engineering changes, engineering approval, dimensional results, and control plan. Also, as part of this PPAP, CAP-XX was successfully audited according to VDA 6.3, a process-based audit standard for improving new product introduction and manufacturing processes, used by German-based automotive industries (Verband der Automobilindustrie).
The CAP-XX DMT220 supercapacitor, previously manufactured by Murata under license from CAP-XX, is now produced in CAP-XX's new high-capacity factory at Seven Hills, NSW, Australia using production lines acquired and successfully recommissioned from Murata. DMT220 features include:
· 220 mF Capacitance / Rated at 4.2 Volts
· High temperature operation -40°C to 85°C
· Ultra-thin form factor 21 x 14 x 2.2mm thin
· High charge efficiency with long life, up to 20 years or 1,000,000 charge discharge cycles
"Successfully completing this time and resource-intensive quality standard to meet the most stringent requirements of the German automotive industry is an endorsement to CAP-XX's product and manufacturing capabilities, and paves the way for CAP-XX to join other Europ
Rns 28 Feb
Current orders outstanding continue to increase and currently total US$1.3m of which US$0.8m is expected to be shipped in the current FY24 financial year. The Board is pleased with this level of business activity as existing and new customers are placing orders in what has historically been a slow period for order intake and is further evidence that the initiatives announced by CAP-XX focused on increasing sales and marketing activities are beginning to reap rewards