Business
£1 million AVX licence received
£1 million AVX licence received.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 8699D CAP-XX Limited 12 July 2016 \n\n12 July 2016\n \nCAP-XX Limited\n \n(\"CAP-XX\" or the \"Company\")\n \n£1 million AVX licence payment received\n \n \nCAP-XX, a world leader in supercapacitors, is pleased to announce that it has received the first tranche payment of £1 million under its technology licence agreement with AVX Corporation of Fountain Inn, South Carolina, USA (\"AVX\"). AVX is a leading international manufacturer and supplier of electronic passive components and interconnect solutions found in many electronic devices and systems worldwide.\n \nIn March 2016, CAP-XX licensed its patents to AVX on a non-exclusive basis for a range of prismatic and cylindrical supercapacitor sizes. Under the terms of the licence, CAP-XX will receive annual licence fees, plus quarterly guaranteed minimum royalty payments, over a three year period. Thereafter, CAP-XX will receive a 5% royalty for the life of the patents, with the royalty being based on the volume of sales of super capacitors sold by AVX covered by CAP-XX patents. The last of the CAP-XX patents granted expires in 2029. New patents applied for by CAP-XX will extend this date beyond 2029 once granted. The initial annual licence fee of £1 million has now been received by CAP-XX, which has been subject to a 5% withholding tax, with payments in subsequent years being subject to AVX maintaining the licence.\n \nAnthony Kongats, CEO of CAP-XX, commented:\n \n\"Our partnership with AVX will provide significant additional momentum to the adoption of CAP-XX supercapacitors in numerous very high volume applications across the globe. Receipt of the first tranche payment under the licence also strengthens our balance sheet.\"\n \n \n \nFor further information, please contact:\n\n\n\n\nCAP-XX Limited\n\n\n \n\n\n\n\nAnthony Kongats (Chief Executive Officer)\n\n\n+61 (0) 2 9428 0139\n\n\n\n\n \n\n\n \n\n\n\n\nAllenby Capital Limited (Nominated Adviser and Broker)\n\n\n \n\n\n\n\nDavid Hart / Alex Brearley\n\n\n+44 (0) 20 3328 5656\n\n\n\n\n \n\n\n \n\n\n\n\nKreab (Financial PR)\n\n\n \n\n\n\n\nRobert Speed\n\n\n+44 (0) 20 7074 1800\n\n\n\n\n \n \n \nNotes to editors:\n \nAbout CAP-XX\nCAP-XX (LSE:CPX) is a world leader in the design and ...