REG - CAP-XX Limited - Agreement with Systematic Power Manufacturing LLC

CAP XXAnnouncement

27/07/2022 07:00

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RNS Number : 8131T  CAP-XX Limited  27 July 2022

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27 July 2022

CAP-XX Limited

("CAP-XX" or "the Company")

 

CAP-XX to Sell Supercapacitors for Microgrid Applications Under Agreement with
Systematic Power Manufacturing LLC

 

The companies are teaming to bring Ioxus supercapacitor modules to new
geographies, leveraging CAP-XX's distribution infrastructure in EMEA, APAC,
Mexico, Central and South America, Australia and New Zealand

 

Sydney, Australia - July 27 2022 - CAP-XX (https://www.cap-xx.com/) Limited
(LSE:CPX), the leading manufacturer of ultra-thin prismatic and high-power
cylindrical supercapacitors, and Systematic Power Manufacturing LLC (SPM) have
settled their legal dispute.

 

On 7 August 2020, CAP-XX announced that the Delaware District Court had made a
judgment in favour of CAP-XX against Ioxus, Inc ("Ioxus").  The Court found
that Ioxus was liable for infringing CAP-XX's patents.  SPM acquired the
assets of Ioxus in 2020 after control of Ioxus was passed to its secured
creditor Ares Capital following CAP-XX's successful court action.  In
exchange for CAP-XX agreeing to drop all further action, SPM has granted
CAP-XX exclusive rights to sell the Ioxus supercapacitor modules and cells
outside the USA, Canada and Japan, and to a limited number of house accounts.
These modules and cells will be sold under the CAP-XX brand.

 

The large, powerful Ioxus supercapacitor modules are designed for power
management in demanding microgrid applications such as transportation
subsystems, engine start modules, regen energy capture, grid/power correction,
Uninterruptible Power Supply (UPS)/ride through power, wind turbine pitch
control and hybrid energy storage.  CAP-XX will sell all 22 of Ioxus'
customer-configurable modules, under the CAP-XX brand.

 

Ioxus modules, made with cylindrical or prismatic pouch cells, boast a high
voltage range, can deliver and absorb a high current, can perform under a wide
range of climate conditions, and offer high life cycle. They will accelerate
CAP-XX's ability to enter a number of fast-growing markets including:

·      Wind turbines

·      Solar Installations and other microgird applications

·      Regenerative braking and energy recycling for vehicles and heavy
equipment

·      Vehicle engine starting

·      Electric vehicles

 

"We are excited about this agreement, which gives us a range of great products
to access new markets in microgrid applications and gives SPM a geographic
sales path where CAP-XX is already established," said Anthony Kongats, CEO at
CAP-XX.

 

"This is a win-win agreement, allowing us to expand our market coverage
through CAP-XX in geographies where we don't have a presence," said Scottie
Johnson, CEO at Systematic Power Manufacturing.

 

 

 CAP-XX Limited                                         +61 (0) 2 9428 0139

 Anthony Kongats (CEO)

 Kreab (Financial PR)                                  +44 (0) 20 7074 1800

 Robert Speed

 Allenby Capital (Nominated Adviser and Joint Broker)  +44 (0) 20 3328 5656

 David Hart / Alex Brearley (Corporate Finance)

 Tony Quirke (Sales and Corporate Broking)

 Cenkos Securities plc (Joint Broker)                  +44 (0) 13 1220 6939

 Neil McDonald / Pete Lynch

 

More information is available at www.cap-xx.com (http://www.cap-xx.com)

 

About CAP-XX

CAP-XX (LSE:CPX) is the world leader in the design and manufacture of
ultra-thin prismatic and compact cylindrical supercapacitors. Its prismatic
supercapacitors are manufactured in Australia and Malaysia and its cylindrical
supercapacitors are manufactured in China. The company's strong intellectual
property (IP) portfolio includes 11 patent families. CAP-XX's ultra-thin
prismatic supercapacitors are ideal for space-constrained electronics
applications where small energy storage device size and thickness are
important. The unique feature of CAP-XX supercapacitors is their very
high-power density and high-energy storage capacity in space-efficient thin
prismatic and compact cylindrical packages. For more information about CAP-XX,
visit https://www.cap-xx.com/ (https://www.cap-xx.com/) or email
sales@cap-xx.com.

 

About Ioxus

Ioxus is the smart power company that designs and manufactures intelligent
power and energy storage technology for transportation, alternative energy,
medical, industrial and grid-connected markets. Designed and manufactured in
the U.S., the company's uSTART® and X-Series® products are based on patented
ultracapacitor technology.  Ioxus is headquartered in Oneonta, NY, with
sales, service and quick-delivery inventory. For more information,
visit www.ioxus.com (http://www.ioxus.com)

 

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