REG - CAP-XX Limited - AVX technology licence agreement <Origin Href="QuoteRef">CAPX.L</Origin>

CAP XXAnnouncement

22/03/2016 07:00

RNS Number : 8178S
CAP-XX Limited
22 March 2016
22 March 2016
CAP-XX Limited
("CAP-XX" or the "Company")
AVX technology licence agreement
CAP-XX, a world leader in supercapacitors, is pleased to announce that it has signed a technology licence agreement with AVX Corporation of Fountain Inn, South Carolina, USA ("AVX"). AVX is a leading international manufacturer and supplier of electronic passive components and interconnect solutions found in many electronic devices and systems worldwide.
CAP-XX will licence to AVX its patents on a non exclusive basis for a range of prismatic and cylindrical supercapacitor sizes. Under the terms of the licence, CAP-XX expects toreceive upfront licence fees over a three year period and a 5% royalty for the life of the patents, based on the volume of sales of supercapacitors sold by AVX covered by CAP-XX patents. The last of the CAP-XX patents granted expires in 2029. New patents applied for by CAP-XX will extend this date beyond 2029 once granted. The initial upfront licence fees receivable by CAP-XX for the first twelve months will be a minimum of 1.26 million, with payments in subsequent years being subject to AVX maintaining the licence.
Anthony Kongats, CEO of CAP-XX, commented:
"Our partnership with AVX is a further significant step in executing our business model. This licence agreement again highlights the value of our intellectual property and will provide significant additional momentum to the adoption of CAP-XX supercapacitors in numerous very high volume applications across the globe."
For further information, please contact:
CAP-XX Limited
Anthony Kongats (Chief Executive Officer)
+61 (0) 2 9428 0139
Allenby Capital Limited (Nominated Adviser and Broker)
David Hart / Alex Brearley
+44 (0) 20 3328 5656
Kreab (Financial PR)
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.
About AVX
AVX Corporation(NYSE:AVX) is a leading international manufacturer and supplier of electronic passive components and interconnect solutions with multiple manufacturing and warehouse facilities located around the world offering a broad range of devices including capacitors, resistors, filters, couplers, timing and circuit protection devices and connectors. AVX components can be found in many electronic devices and systems worldwide. The AVX Corporation is publicly traded on the New York Stock Exchange.
For more information about CAP-XX, visit www.cap-xx.com.

This information is provided by RNS
The company news service from the London Stock Exchange
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