Last checked at 12 Aug 2009 07:00
12 August 2009
CAP-XX
CAP-XX signs manufacturing agreement with Nationgate
CAP-XX Limited, developer of the supercapacitor-driven BriteFlash power architecture for mobile phones, today announces that it signed a contract manufacturing agreement with Nationgate Technologies of Penang on 30 July 09. Under the terms of the agreement Nationgate will acquire and transfer the supercapacitor assembly manufacturing plant only from CAP-XX for a consideration of US$2m. USD300K has already been received by CAP-XX and a further USD700K will be paid in 2 instalments over the next 6 months. The second USD1m to be paid over the subsequent 12 -18 months depending on production volumes. Following the re-commissioning of the plant at its Penang facility, Nationgate will supply supercapacitors to CAP-XX. Nationgate is anticipated to start partial production from Q4 2009 and full production from Q1 2010
Polar Twin Advance of Penang will also remain as a contract manufacturer for CAP-XX thereby ensuring that going forward CAP-XX will have dual sourcing of production capacity which in turn will help to provide greater integrity of supply.
Anthony Kongats, Chief Executive Officer of CAP-XX commented:
"We are delighted to secure this agreement with Nationgate, which will supplement our existing contract manufacturing agreement with Polar Twin Advance and our agreement with Murata and address the short to medium term demands of our customers for production volumes of supercapacitors."
For further information contact:
| CAP-XX | |
| Anthony Kongats, Chief Executive Officer | +61 (0)2 9428 0139 |
| Kreab Gavin Anderson (Financial PR) | |
| Robert Speed / Anthony Hughes | +44 (0) 20 7074 1800 |
| Seymour Pierce (Nominated Adviser and Broker) | |
| Nandita Sahgal/Catherine Leftley | +44 (0) 20 7107 8000 |
More information about CAP-XX 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 power management systems, predominantly for portable electronic devices.
The unique feature of CAP-XX's supercapacitors is their ability to store high volumes of energy and output high power levels within a thin-form design. These attributes will be critical for the next generation of high volume, power-hungry portable electronic devices, including mobile phones and solid state drives.
Portable devices are one of the fastest 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 wireless devices.
Nationgate Technology (M) Sdn. Bhd. a Malaysia incorporated company; was established in 1998 with the vision to serve the industrial sector by providing an alternative choice to the customers with a competitive edge. It is currently the market leader within the locally incorporated EMS (Electronic manufacturing systems), serving a broad base of multinational companies and worldwide customers from Japan, Europe, Asia, India and USA.