This has not been reflected yet but big difference is about to happen6 Mar 2025 10:08
CAP-XX continues to focus on transforming the business to optimise operations and secure sustainable growth. Good progress has been made during the period, with the following key developments:-
· A strategic technology partnership was established with SCHURTER AG (SCHURTER), a world class Swiss technology company and solutions innovator. This partnership focuses on the joint development of innovative supercapacitor products combining CAP-XX's expertise in supercapacitor technology and SCHURTER's extensive experience in electronic components distribution. As part of this partnership, the first co-branded supercapacitor products were shipped by CAP-XX to SCHURTER during January 2025.
· CAP-XX commenced delivery of services to the National University of Singapore Institute for Functional Intelligent Materials under the Memorandum of Understanding signed during July 2024. Services delivered by CAP-XX form part of the strategic partnership between the two organisations to drive innovation and develop cutting-edge solutions that will shape the future of technology.
· During the period, CAP-XX matured its relationship with DigiKey, a global electronic component distributor. The Company is now an accredited partner of the 'Fulfilled by DigiKey' programme which is designed to streamline the supply chain process in North America. As such, during February 2025, CAP-XX shipped the first stock order to DigiKey and this will now form part of a physical stock holding in the US for the first time in the Company's history.
· CAP-XX continued to develop its network of distribution partners around the world. This was further enhanced by the signing of a franchised distribution agreement with JM Elektronik sp. z o.o. ("JM Elektronik"), a leading Polish-based electronic component distributor. This agreement grants JM Elektronik the rights to distribute CAP-XX's full range of high-performance supercapacitor products throughout Poland.
· Further growth in the Africa region is anticipated following the announcement during the period that a new contract has been signed with a customer in the smart meter sector in South Africa. The customer will incorporate CAP-XX's supercapacitors in their smart meter products which will then be distributed to the customer's end customers to measure their gas and electricity usage.
· CAP-XX continues to invest in and develop its product portfolio and has invested in its internal systems (CRM, accounting and MRP) to support continued sales growth and optimise operational efficiency.
· The Company filed a number of patent applications during the period to protect and secure the intellectual knowledge created.
· A successful fundraise was delivered by the Company during the period which raised gross proceeds of approximately £3.025 million (before expenses).