Last checked at 7 Dec 2016 07:00
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
07 December 2016
CAP-XX Limited
("CAP-XX" or the "Company")
Lower cost for automotive supercapacitor units
CAP-XX, a world leader in supercapacitors, is pleased to announce that it has achieved significant production cost savings on its supercapacitor solutions for both passenger vehicle and heavy vehicle automotive applications.
In June 2016, the Company announced that it had secured three new orders for evaluation units of large supercapacitor systems. The customers comprise a North American vehicle manufacturer, an Asian Tier-1 OEM and an Asian distributor/OEM. The Company also announced that it was in advanced negotiations with additional North American and Asian OEMs for the supply of evaluation units and for the licensing of its technology.
In addition, the Company was awarded the Society of Automotive Engineers - Australasia's (SAE-A) 2016 Platinum Award for overall engineering excellence, for its automotive powerModule and truckStart projects, having faced tough competition from Ford, GM, SC Innovation and others. CAP-XX also won the SAE-A's 2016 Gold Award in the Manufacturing/non-OE (non-Original Equipment) category.
Since June, development work undertaken by CAP-XX's R&D team in conjunction with CAP-XX's Engineering team, has resulted in a significant lowering of the cost of production of its supercapacitor products for automotive applications. The changes, which include the development of a proprietary electrode and the incorporation of new materials and processes, have resulted in significant reductions in the costs of materials and processing, while further enhancing the supercapacitors' already industry leading performance. Consequently, once full commercialisation has been achieved, the Company now expects to see the truckStart module selling to truck OEMs and aftermarket chains for less than US$500, a significant reduction from the $1,000 price that was previously envisaged.
Meanwhile CAP-XX remains in developed discussions with numerous companies regarding licencing its technology or entering into joint ventures on both an exclusive and non exclusive basis, which will benefit from these engineering and cost benefit enhancements.
CAP-XX's Chief Executive, Anthony Kongats, said:
"We have responded to the demands of our international customer base for a cost competitive product which our R&D and Engineering teams have delivered. At a significantly lower market entry price point, we believe that our automotive supercapacitors have a broader range of potential applications for energy capture and storage to support traditional batteries."
For further information, please contact:
CAP-XX Limited |
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Anthony Kongats (Chief Executive Officer) | +61 (0) 2 9428 0139 |
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Allenby Capital Limited (Nominated Adviser and Broker) |
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David Hart / Alex Brearley | +44 (0) 20 3328 5656 |
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Kreab (Financial PR) |
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Robert Speed
| +44 (0) 20 7074 1800 |
Notes to editors
About CAP-XX
CAP-XX (LSE:CPX) is a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems used in portable and small-scale electronic devices, and to an increasing extent, in larger applications such as automotive and renewable energy. The unique feature of CAP-XX supercapacitors is their very high power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics, and deliver similar benefits in automotive and other transportation applications. For more information about CAP-XX, visit www.cap-xx.com.