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CAP-XX automotive MoU extended & Thinline progress
CAP-XX automotive MoU extended & Thinline progress.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 0041P CAP-XX Limited 15 February 2016 \n\n15 February 2016\n \nCAP-XX Limited \n(\"CAP-XX\" or the \"Company\")\nCAP-XX automotive MoU extended and Thinline progress\nCAP-XX, a world leader in supercapacitors, is pleased to announce that its memorandum of understanding (\"MoU\") with a Global Tier-1 automotive components company has been extended and further progress with its new Thinline family of supercapacitors for the internet of things (IoT) . \nThe automotive MoU, is for the development of CAP-XX's large automotive supercapacitors for a standalone system that can serve both original equipment and aftermarket applications. It was originally announced in February 2015 and has been extended at the request of CAP-XX's customer beyond its originally envisaged term of one year. The system is the first commercial application for CAP-XX's large, automotive supercapacitors produced at the Lane Cove facility since the prototype production line was launched in 2013. \nCAP-XX subsequently announced in June 2015 that the customer had placed orders for additional evaluation units. The customer has now been operating the system in trucks for over eight months without fault and, following this evaluation, has requested an extension of the MoU and the associated period of exclusivity on a continuing basis.\nCAP-XX's Thinline family of supercapacitors for applications in the IoT is showing good progress. The number of customers actively evaluating CAP-XX's Thinline supercapacitors continues to increase, with one lead customer planning mass production trials.\n \nThe Company will release its interim results for the half year to December 2015 in March 2016. \n \nCAP-XX's Chief Executive, Anthony Kongats, said:\n \n\"The collaboration with our MoU partner has provided CAP-XX with a new dimension of technological resources and first-class global distribution channels. We are delighted to continue to work with our partner with the goal of commercialising this technology for the global marketplace. We are also pleased to be able to report continuing progress with our Thinline range of small supercapacitors aimed at applications in the internet of things.\"\n \n \n \n \n \nFor further information, please contact...