CAP-XX Limited MOU to establish technology partnership

RNS Number : 5593W

CAP-XX Limited

16 July 2024

 

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)                                                                           [phone]

Lars Stegmann (Chief Executive Officer)

 

Allenby Capital (Nominated Adviser and Broker)

David Hart / Piers Shimwell (Corporate Finance)                                [phone]

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

 

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