Last checked at 27 Feb 2012 07:00
27th February 2012
CAP-XX Limited
Automotive Stop-Start commercialisation agreement
CAP-XX Limited, a world leader in the design and manufacture of revolutionary thin-form supercapacitors, which considerably extend the performance of conventional battery power systems, announces that it has been approached by a leading Chinese automotive component company to commercialise the CAP-XX supercapacitor technology for various automotive applications in China. The first target market is for the use of supercapacitors to improve the performance of lead acid batteries in automotive Stop-Start applications. CAP-XX recently demonstrated significant performance enhancements over conventional battery only Stop-Start systems.
The discussions, which are at an advanced stage and are subject to Chinese Government approval, are expected to secure funding for CAP-XX's automotive supercapacitor project possibly by a direct investment in CAP-XX equity. Any new shares to be issued under the proposed agreement would be issued under the terms of the Group's existing authority to allot shares.
A further announcement will be made in due course.
For further information contact:
| CAP-XXAnthony Kongats, Chief Executive Officer
|
+61 (0) 2 9428 0139 |
Kreab Gavin Anderson & Company (Financial PR) Robert Speed / Deborah Walter / Anthony Hughes
|
+44 (0) 20 7074 1800 |
Seymour Pierce Ltd (Nominated Adviser and Broker) Nandita Sahgal/Catherine Leftley (Corporate Finance) David Banks/Paul Jewell (Corporate Broking) |
+44 (0) 20 7107 8000 |
More information is available at www.cap-xx.com
Notes to Editors:
CAP-XX is a world leader in the design and manufacture of thin form supercapacitors and energy management systems.
The unique feature of CAP-XX's supercapacitors is their ability to store high volumes of energy and output high power levels. These devices are available in a thin form design for high volume, power-hungry portable electronic devices, including mobile phones. Larger devices are in development for automotive applications, providing considerable performance enhancement to fuel saving Stop-Start systems.
Portable devices and automotive are fast growing segments of the electronics market and provide the greatest opportunities for CAP-XX's products. CAP-XX's products are already an established enabling technology for the current generation of portable devices.