REG - CAP-XX Limited - Update on IP and appeals process

CAP XXAnnouncement

10/01/2024 07:15

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RNS Number : 2259Z  CAP-XX Limited  10 January 2024

 

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.

 

10 January 2024

CAP-XX Limited

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

Update on IP and appeals process

 

Further to the Company's announcement on 21 December 2023, CAP-XX Limited, a
world leader in the design and manufacture of supercapacitors and energy
management systems, provides the following update.

On 27 December 2023, the Delaware District Court entered judgment in favour of
Maxwell Technologies in a patent infringement case asserted by CAP-XX.  While
CAP-XX is disappointed with the result, it is evaluating all options,
including making an appeal to the Federal Circuit Court of Appeals.

CAP-XX has subsequently conducted a review of its patent portfolio and
concluded that the Delaware District Court judgment does not have any impact
on the integrity of the Company's portfolio of current patents and IP, the
integrity and enforceability of its current licensing deals not the subject of
this case, or the integrity of its portfolio of current patents awarded or
pending. Furthermore, under US law there is no valid grounds for clawback if a
licensed or expired patent is later invalidated.

The patents that were made invalid in the Delaware judgement were US 6,920,034
and US 7,382,600. Both of these patents expired in December 2019. The case
took more than five years to be heard and the initial notification by CAP-XX
to Maxwell (subsequently acquired by Tesla) for patent infringement was first
made in September 2017.

CAP-XX's portfolio of current active patents comprises:

·      US7,595,131

·      US7,474,879

·      US7,969,121

·      US8,773,841

In addition, CAP-XX has two international patent applications that relate to:

·      new binders PCT/AU2023/015252

·      a new supercapacitor surface mount device
(SMD) PCT/AU2023/051251

 

The Directors of CAP-XX believe that the Delaware District Court judgment will
not have a materially adverse effect on CAP-XX's ongoing business, which
remains in line with the update provided on 21 December 2023.

As previously reported, the Company looks forward to proceeding with its
current product range, supported by a strong portfolio of current IP, to focus
on the key short-term actions to maximise sales and deliver profitability.

 

 

 

 

For further information contact:

CAP-XX Limited

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

Lars Stegmann (Chief Executive Officer)

 

Allenby Capital (Nominated Adviser and Joint Broker)

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

Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)

 

Cavendish Securities plc (Joint Broker)

Neil McDonald / Pearl Kellie
 
+44 (0) 13 1220 6939

 

Kreab (Financial PR)

Robert
Speed
+44 (0) 20 7074 1800

 

 

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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