Broker note19 May 2025 10:23
CAP-XX Ltd* (CPX.L, 0.17p/£9.8m) Update: Design win with Asian-based multinational (13.05.25) • Design win with a major Asian-based multinational conglomerate and provider of advanced audio solutions for the integration of its supercapacitors into the customer's next-generation headphone platform. • The supercapacitor will complement the device's existing battery system by improving overall power efficiency and delivering superior performance across a wide temperature range (-25°C to +65°C). • The new headphone system is scheduled for launch in October and, having qualified as a direct supplier, CPX is well positioned for deployment in future product lines. Allenby Capital comment: The competitive design win represents a strong endorsement of CPX's supercapacitor technology but also opens up future projects with a major multinational. As electronics devices become more compact and power-hungry, efficient energy storage becomes more important, playing to the advantages that supercapacitors bring in general and CPX product set brings in particular. David Johnson