REG - CAP-XX Limited - Update on Patent Infringement

CAP XXAnnouncement

18/12/2023 07:00

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RNS Number : 0705X  CAP-XX Limited  18 December 2023

 

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.

 

18 December 2023

CAP-XX Limited

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

Update on Patent Infringement

Further to the Company's announcement on 18 July 2023, CAP-XX Limited, a world
leader in the design and manufacture of supercapacitors and energy management
systems, announces the following update on its existing patent infringement
action against Maxwell Technologies Inc. ("Maxwell"), now a wholly owned
subsidiary of Tesla Inc. ("Tesla").

On 15 December 2023, in the United States District Court for the District of
Delaware in the case of CAP-XX vs Maxwell (C.A. No. 19-1733-JLH), the jury has
affirmed that CAP-XX patents were invalid and as a result Maxwell does not
infringe the nominated CAP-XX patents and Maxwell is not liable to pay CAP-XX
damages nor license fees.

Whilst CAP-XX is disappointed with this decision, it is in discussions with
its attorneys to agree the appropriate next steps.  While the Company cannot
comment further at this time, we will provide an update in due course.
Meanwhile, 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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