REG - CAP-XX Limited - MOU to establish technology partnership

CAP-XXAnnouncement

16/07/2024 07:15

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RNS Number : 5593W  CAP-XX Limited  16 July 2024

16 July 2024

CAP-XX Limited

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

 

CAP-XX and SCHURTER AG sign MOU to establish strategic technology partnership

 

The Board of CAP-XX, a world leader in the design and manufacture of
supercapacitors and energy management systems, is pleased to announce that the
Company has signed a Memorandum of Understanding ("MOU") with SCHURTER AG
("SCHURTER") to work closely together on technology development and co-branded
supercapacitor products. This MOU marks a new era of collaboration between the
two companies and establishes a strategic technology partnership. By combining
their extensive knowledge and capabilities, CAP-XX and SCHURTER aim to jointly
develop innovative, competitive products and new application-specific
solutions.

SCHURTER is a world leading Swiss technology company and solutions innovator.
SCHURTER manufactures and markets components for circuit protection, as well
as connectors, switches, EMC, and HMI products.

Joint Technology Development

To meet evolving market needs, CAP-XX and SCHURTER will work closely together
to develop new technologies, including co-branded supercapacitor products.

 

Market Expansion

CAP-XX and SCHURTER will work together to:

·      Explore opportunities to expand into new geographic and
demographic markets.

·      Leverage each other's technical and market expertise to enhance
overall capabilities.

·      Driving joint research and development projects to foster
innovation and bring advanced solutions to market.

 

The MOU marks the beginning of a strategic alliance that both companies
believe will provide significant mutual benefits and create significant value
for their customers and stakeholders.

 

CAP-XX has also granted SCHURTER exclusive rights to brand label and
distribute CAP-XX's supercapacitor products within SCHURTER's
electromechanical markets for a binding period (the "Exclusivity Right").

 

Whilst the MOU is not legally binding and the terms of any future
collaboration between CAP-XX and SCHURTER is subject to final contract, the
Exclusivity Right is binding until the end of 2029.

 

Lars Stegmann, CEO of CAP-XX, said: "We are thrilled to partner with SCHURTER
AG. Their expertise in the passive electronics market complements our
capabilities perfectly. Together we can deliver unparalleled value to our
customers and drive significant growth in the market."

 

Lars Brickenkamp, CEO of SCHURTER AG, echoed this sentiment and added: "This
MOU marks a new era of cooperation. By combining our strengths, we will be
able to innovate and offer solutions that are not only cutting-edge, but also
highly beneficial to our customers. We are looking forward to a fruitful
partnership with CAP-XX."

 

 

For further information contact:

 

CAP-XX Limited

Pat Elliott
(Chairman)
+61 (2) 9157 0000

Lars Stegmann (Chief Executive Officer)

 

Allenby Capital (Nominated Adviser and Broker)

David Hart / Piers Shimwell (Corporate Finance)
              +44 (0) 20 3328 5656

Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)

 

Notes to Editors:

 

CAP-XX (LSE: CPX) is a 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)

 

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