Maybe21 Apr 2024 14:01
These new placing shares have gone to Continental.
Sydney, Australia - February 23, 2022 - CAP-XX Limited (LSE:CPX), the leading manufacturer of ultra-thin prismatic and high-power cylindrical supercapacitors, announced it has signed a Sourcing Agreement with Continental Automotive GmbH, a Tier 1 automotive supplier, to provide CAP-XX DMT220 prismatic supercaps for one of Continental's key automotive programs. The Sourcing Agreement for this design win covers the expected volumes for the model years 2024 through 2030.
If Cap-xx went into administration it would leave Conti in a bit of a pickle.
A Tier 1 automotive supplier supplied by a company with a £3m mcap....seems ready for some serious bags to me.
And then BOOM at the end of the year....all good here.