16
July 2024
CAP-XX
Limited
("CAP-XX" or "the
Company")
CAP-XX and SCHURTER AG sign
MOU to establish strategic technology partnership
The Board of CAP-XX, a world leader in
the design and manufacture of supercapacitors and energy management
systems, is pleased to announce that the Company has signed a
Memorandum of Understanding ("MOU") with SCHURTER AG ("SCHURTER")
to work closely together on technology development and co-branded
supercapacitor products. This MOU marks a new era of collaboration
between the two companies and establishes a strategic technology
partnership. By combining their extensive knowledge and
capabilities, CAP-XX and SCHURTER aim to jointly develop
innovative, competitive products and new application-specific
solutions.
SCHURTER is a world leading Swiss
technology company and solutions innovator. SCHURTER manufactures
and markets components for circuit protection, as well as
connectors, switches, EMC, and HMI products.
Joint
Technology Development
To meet evolving market needs, CAP-XX
and SCHURTER will work closely together to develop new
technologies, including co-branded supercapacitor
products.
Market Expansion
CAP-XX and SCHURTER will work together
to:
·
Explore opportunities to expand into new geographic
and demographic markets.
·
Leverage each other's technical and market
expertise to enhance overall capabilities.
·
Driving joint research and development projects to
foster innovation and bring advanced solutions to
market.
The MOU marks the beginning of a
strategic alliance that both companies believe will provide
significant mutual benefits and create significant value for their
customers and stakeholders.
CAP-XX has also granted SCHURTER
exclusive rights to brand label and distribute CAP-XX's
supercapacitor products within SCHURTER's electromechanical markets
for a binding period (the "Exclusivity Right").
Whilst the MOU is not legally binding
and the terms of any future collaboration between CAP-XX and
SCHURTER is subject to final contract, the Exclusivity Right is
binding until the end of 2029.
Lars Stegmann, CEO of CAP-XX, said:
"We are thrilled to partner with SCHURTER AG. Their expertise in
the passive electronics market complements our capabilities
perfectly. Together we can deliver unparalleled value to our
customers and drive significant growth in the market."
Lars Brickenkamp, CEO of SCHURTER AG,
echoed this sentiment and added: "This MOU marks a new era of
cooperation. By combining our strengths, we will be able to
innovate and offer solutions that are not only cutting-edge, but
also highly beneficial to our customers. We are looking forward to
a fruitful partnership with CAP-XX."
For
further information contact:
CAP-XX Limited
Pat Elliott
(Chairman)
+61 (2) 9157 0000
Lars Stegmann (Chief Executive
Officer)
Allenby Capital (Nominated Adviser and
Broker)
David Hart / Piers Shimwell (Corporate
Finance)
+44 (0) 20 3328
5656
Tony Quirke / Stefano Aquilino (Sales
and Corporate Broking)
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