REG - CAP-XX Limited - CAP-XX secures joint venture with Ionic Industries

CAP-XXAnnouncement

04/05/2022 07:00

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RNS Number : 1994K  CAP-XX Limited  04 May 2022

 

 

 

 

Dissemination of a Regulatory Announcement that contains inside information
for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.

 

4 May 2022

 
 
CAP-XX Limited

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

 

CAP-XX secures exclusive joint venture with Ionic Industries for
transformational new graphene material

 

 

CAP-XX Limited, a world leader in the design and manufacture of thin, flat
supercapacitors and energy management systems, is pleased to announce that it
has signed a binding term sheet (the "Agreement") in relation to a joint
venture ("JV") with Ionic Industries Limited ("Ionic") for the
commercialisation of reduced graphene oxide ("rGO") for supercapacitors and
other energy storage devices.

 

Highlights:

·      CAP-XX and Ionic have entered into the Agreement to exclusively
commercialise Ionic's rGO material for supercapacitors and other energy
storage devices

·      The rGO material's highly conductive structure improves the
packing density of the active materials in devices' electrodes, while
maintaining high power performance

·      Ionic's rGO graphene oxide technology has already been shown to
increase electrode energy density by over 100% compared to CAP-XX's current
electrode. This is expected to translate into supercapacitor energy densities
of 15 to 20 watt-hours (Wh)/litre or 10-15 Wh/kg, which is approaching the
energy density of lead acid batteries, while aiming to provide significantly
superior power density and cycle life

·      supercapacitors utilising rGO material are expected to serve a
wide range of applications including: electric vehicles; vehicles powered by
internal combustion engines; microgrid storage; smart meters; e-locks, asset
trackers and various IoT devices

·      In addition, rGO materials are expected to have applications
across a range of hybrid capacitors and batteries

·      CAP-XX's Customers are expected to receive samples around
mid-2024

 

Ionic Industries is an Australian company based in Melbourne, developing new
forms of graphene for a variety of markets. Its work on commercialising
graphene materials began in collaboration with Monash University in 2011.
Ionic's collaboration with Monash has resulted in six government grant
programs, numerous publications and global recognition, notably in the field
of energy storage.

 

Pursuant to the Agreement, Ionic will procure a licence for rGO in favour of
the JV, which will have exclusive worldwide use of these materials for
supercapacitors, batteries and other energy storage devices and Ionic will
sell rGO products to the JV. CAP-XX will manufacture and sell supercapacitors
and energy storage devices using rGO, on behalf of the JV, under the CAP-XX
brand.

 

The Agreement is subject to the completion of various conditions precedent and
the establishment of a joint venture vehicle, which will be owned on a 51%
CAP-XX : 49% Ionic basis.

 

 

Peter Armitage, Chairman of Ionic Industries, said:

"We are delighted to be working exclusively with CAP-XX, which is universally
recognised as one of the world's leading developers, researchers and
manufacturers of supercapacitors and energy storage devices. This joint
venture is further important validation of Ionic's transformational energy
storage technologies."

 

Anthony Kongats, CEO of CAP-XX, said:

"We are delighted to have formed this joint venture with Ionic, which gives
CAP-XX the opportunity to commercialise a new class of supercapacitors with
significantly higher energy densities using Ionic's proprietary reduced
graphene oxide. Our immediate goal is to translate the rGO technology into a
system that can meet all the stringent performance and specification
requirements of commercial supercapacitors."

 

For further information contact:

 

 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)

 

Notes to Editors:

 

Ionic Industries is a Melbourne, Australia based company developing new forms
of graphene for a variety of markets. Ionic's work on commercialising graphene
materials began in collaboration with Monash University in 2011.  The
company's work has focused on nano-filtration for water treatment, energy
storage and, more recently, conductive coatings for sensing applications. The
collaboration with Monash has resulted in six government grant programs with a
combined value of over $3 million, numerous publications and global
recognition, particularly in the field of energy storage.  In addition to
government grants, Ionic's work has been funded through approximately $4
million in equity investment. Ionic has also entered into a binding agreement
to acquire the advanced materials company Imagine Intelligent Materials,
including plant and equipment for the production of graphene materials and
over 20 patents on the applications of graphene materials.  Ionic operates
from its factory and laboratory facilities in Mt. Waverley, in close proximity
to Monash University.

 

 

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 (http://www.cap-xx.com)

 

 

-ENDS-

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