Business
Agreement with Systematic Power Manufacturing LLC
Agreement with Systematic Power Manufacturing LLC.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulations. With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n \n 27 July 2022\n \n \n \n \n CAP-XX Limited\n \n \n \n \n (\"CAP-XX\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n CAP-XX to Sell Supercapacitors for Microgrid Applications Under Agreement with Systematic Power Manufacturing LLC\n \n \n \n \n \n \n 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\n \n \n \n \n \n Sydney, Australia - July 27 2022 - CAP-XX 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n Ioxus modules, made with cylindrical or prismatic pouch cells, boast a high voltage range, can deliver and absorb a...