THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018) ("UK MAR").
5 September 2024
CAP-XX
Limited
("CAP-XX" or "the
Company")
Trading Update and Notice of
Results
The Board of CAP-XX Limited, a world
leader in the design and manufacture of thin, prismatic
supercapacitors and energy management systems, announces an
unaudited trading update in respect of the financial year ended 30
June 2024 ("FY2024").
· Revenue is expected to be A$4.6m up 26.7% versus the prior
financial year
· Backlog at the end of June 2024 was USD 1.12m
· Book/bill ratio of 1.07 as at 30 June 2024
· R&D tax credit of approximately A$1.25m is estimated to be
received in November 2024
· Year-end cash reserves were A$2.0m
· The
Company is debt free
· Strong
new relationship with SCHURTER AG
· Strong
progress with the global distribution network
· Global
supercapacitor market is currently experiencing significant
growth
The financial information
highlighted above has not been audited, the process of which is
currently ongoing. The Company's audited results for FY2024 are
expected to be released on 29 October 2024.
Agreement with SCHURTER AG ("SCHURTER")
As announced on 16 July 2024, CAP-XX
and SCHURTER signed a memorandum of understanding ("MoU") in July
to work closely together on technology development and the
development of supercapacitor products under a common brand name.
The MoU marks the beginning of a strategic alliance that the
companies believe will bring substantial benefits for both sides
and create real added value for their customers and stakeholders.
By combining their extensive knowledge and capabilities, CAP-XX and
SCHURTER will develop innovative, competitive products and new
application-specific solutions, including co-branded supercapacitor
products. SCHURTER also became a significant shareholder in the
Company, having acquired CAP-XX shares in the market representing
4.69% of the Company's issued share capital.
Successful uplift from marketplace to fulfilment with DigiKey
and first stock holding in the USA
Further to the Company's
announcement on 25 April 2023, CAP-XX has strengthened its
relationship with DigiKey, including the successful progression
onto the "Fulfilled by DigiKey" programme. This includes the
implementation of an EDI (Electronic Data Interchange) link with
DigiKey, culminating with the first stock order from this leading
global distributor of electronic components.
This represents the first physical
stock holding in the US - previously stock was shipped from
Australia upon receipt of an order. Local stock enables faster
delivery times of between 12 to 24 hours, better customer service,
and a more robust presence in the crucial North American
market.
By DigiKey managing the fulfilment
process, CAP-XX can enhance supply chain operations, provide
superior service to customers, and drive growth and
profitability.
About the CAP-XX external EDI system
The EDI system provides for
automated commercial "conversations" between two entities,
encompassing the entire electronic data interchange process,
including transmission, message flow, document format, and software
used to interpret the documents. An external EDI system offers
significant benefits, including operational efficiency, cost
savings, enhanced inventory management, improved customer
satisfaction, and greater overall control. By DigiKey managing the
fulfilment process, CAP-XX can enhance supply chain operations,
provide superior service to customers, and drive growth and
profitability.
Update on the CAP-XX global distribution
network:
CAP-XX has assembled a highly
experienced commercial team under the leadership of its CEO, Lars
Stegmann, who personally oversees APAC and the Americas region.
Mark Davies is responsible for operations in Europe, while Ulrich
Lorenzen manages CAP-XX's activities in South Africa.
CAP-XX has established a
comprehensive global distribution network for its world-class
supercapacitors. Distributors are strategically located across the
Americas, Asia Pacific, Europe, the Middle East, and Africa,
providing local support and expertise to meet the diverse needs of
clients. During FY2024, CAP-XX signed numerous distribution
agreements worldwide, including: Astute (Global), Syscom Prorep
(France & Benelux), Darton (Italy, Spain & Portugal), TME
(Global), NuVision (South Africa) and Arrow-Alltech (South
Africa).
In the Americas, ongoing discussions
with major partners aim to complement the existing relationship
with Kessler Batteries in Dallas, Texas. These distributors are
well-equipped to handle enquiries and provide supercapacitors for a
range of applications.
The extensive Asia Pacific network
covers major regions such as ASEAN & South Asia, China &
Hong Kong, Taiwan, India, Japan, and South Korea. Key partners
include McCoy Pte. Ltd. in Singapore, Nanjing Sunlord Electronics
Co. Ltd. in China, PAC Electronics Co. Ltd. in Taiwan, and
Synerdyne in Japan. This network ensures that innovative products
are readily available and supported by local experts who understand
the unique requirements of each market.
Growing global supercapacitor market
The global supercapacitor market is
currently experiencing significant growth, driven by a combination
of technological advancements and increased demand across various
sectors. Supercapacitors, known for their high power density, rapid
charge and discharge capabilities, and long cycle life, are
becoming increasingly important in applications such as automotive,
renewable energy, consumer electronics, and industrial
equipment.
According to a recent report by
MarketsandMarkets1, the global supercapacitor market is
projected to grow from USD 475 million in 2022 to USD 1.4 billion
by 2027, a compound annual growth rate (CAGR) of 23.5% during the
forecast period. This growth is being fuelled by the rising
adoption of electric vehicles (EVs), where supercapacitors are used
alongside batteries to improve performance and longevity.
Additionally, the integration of renewable energy sources, such as
wind and solar, requires efficient energy storage solutions like
supercapacitors to balance supply and demand.
In the consumer electronics sector,
the demand for faster-charging and more durable energy storage
devices is also propelling the supercapacitor market. According to
Research and Markets2, the increasing use of
supercapacitors in smartphones, wearables, and other portable
devices is expected to contribute significantly to market
expansion. The global push towards smart infrastructure and grid
modernisation is creating new opportunities for supercapacitor
technology in energy management and power backup
systems.
With these multiple drivers, the
global supercapacitor market is set for robust growth in the coming
years, cementing its role as a key component in the evolving
landscape of energy storage solutions.
1 MarketsandMarkets. (2022). Supercapacitor Market by Type,
Electrode Material, Application, Region - Global Forecast to
2027.
2 Research and Markets. (2023). Global Supercapacitor Market
Analysis and Forecast to 2028.
Chief Executive Officer of CAP-XX, Lars Stegmann,
said: "The progress with our new
sales strategy has been strong in the period, increasing our global
geographic footprint in key markets, improving our customer service
levels and project management. The strengthening of our
distribution partner base is progressing well and supports our key
objective to profitably build the CAP-XX revenue base in the near
term. With our newly strengthen board we look forward to continuing
our mission of powering the future with our state-of-the-art
supercapacitor technology."
For
further information contact:
CAP-XX Limited
Pat Elliott
(Chairman)
+61 (2) 9157 0000
Lars Stegmann (Chief Executive
Officer)
Allenby Capital (Nominated Adviser and Joint
Broker)
David Hart / Piers Shimwell
(Corporate Finance)
+44 (0) 20 3328 5656
Tony Quirke / Stefano Aquilino
(Sales and Corporate Broking)
Notes to Editors:
About SCHURTER
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.
For more information about SCHURTER,
visit www.schurter.com
About DigiKey
DigiKey is a leading global
distributor of electronic components, renowned for its extensive
inventory and commitment to providing rapid, reliable service to
engineers, designers, and procurement professionals. DigiKey
currently states that it currently holds 1,900,000 products in
stock, in their expandable distribution space of more than 3
million square feet (278,709 square meters), including a new 2.2
million sq. foot product distribution centre, allowing them to ship
the majority of orders the same day they are placed. On average,
DigiKey ships nearly 25,000 orders per day. DigiKey is an
authorized distributor of electronics components for more than
2,900 industry-leading suppliers, offering more than 15.3 million
different products. DigiKey also supports innovation through
comprehensive online resources, including datasheets, reference
designs, and a robust community forum, making it a trusted partner
in the electronics industry.
For more information about DigiKey,
visit www.digikey.com
About CAP-XX
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
