TIDMCPX
RNS Number : 1994K
CAP-XX Limited
04 May 2022
Dissemination of a Regulatory Announcement that contains inside
information for the purposes of Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 .
4 May 2022
CAP-XX Limited
("CAP-XX" or the "Company")
CAP-XX secures exclusive joint venture with Ionic Industries for
transformational new graphene material
CAP-XX Limited, a world leader in the design and manufacture of
thin, flat supercapacitors and energy management systems, is
pleased to announce that it has signed a binding term sheet (the
"Agreement") in relation to a joint venture ("JV") with Ionic
Industries Limited ("Ionic") for the commercialisation of reduced
graphene oxide ("rGO") for supercapacitors and other energy storage
devices.
Highlights:
-- CAP-XX and Ionic have entered into the Agreement to
exclusively commercialise Ionic's rGO material for supercapacitors
and other energy storage devices
-- The rGO material's highly conductive structure improves the
packing density of the active materials in devices' electrodes,
while maintaining high power performance
-- Ionic's rGO graphene oxide technology has already been shown
to increase electrode energy density by over 100% compared to
CAP-XX's current electrode. This is expected to translate into
supercapacitor energy densities of 15 to 20 watt-hours (Wh)/litre
or 10-15 Wh/kg, which is approaching the energy density of lead
acid batteries, while aiming to provide significantly superior
power density and cycle life
-- supercapacitors utilising rGO material are expected to serve
a wide range of applications including: electric vehicles; vehicles
powered by internal combustion engines; microgrid storage; smart
meters; e-locks, asset trackers and various IoT devices
-- In addition, rGO materials are expected to have applications
across a range of hybrid capacitors and batteries
-- CAP-XX's Customers are expected to receive samples around mid-2024
Ionic Industries is an Australian company based in Melbourne,
developing new forms of graphene for a variety of markets. Its work
on commercialising graphene materials began in collaboration with
Monash University in 2011. Ionic's collaboration with Monash has
resulted in six government grant programs, numerous publications
and global recognition, notably in the field of energy storage.
Pursuant to the Agreement, Ionic will procure a licence for rGO
in favour of the JV, which will have exclusive worldwide use of
these materials for supercapacitors, batteries and other energy
storage devices and Ionic will sell rGO products to the JV. CAP-XX
will manufacture and sell supercapacitors and energy storage
devices using rGO, on behalf of the JV, under the CAP-XX brand.
The Agreement is subject to the completion of various conditions
precedent and the establishment of a joint venture vehicle, which
will be owned on a 51% CAP-XX : 49% Ionic basis.
Peter Armitage, Chairman of Ionic Industries, said:
"We are delighted to be working exclusively with CAP-XX, which
is universally recognised as one of the world's leading developers,
researchers and manufacturers of supercapacitors and energy storage
devices. This joint venture is further important validation of
Ionic's transformational energy storage technologies."
Anthony Kongats, CEO of CAP-XX, said:
"We are delighted to have formed this joint venture with Ionic,
which gives CAP-XX the opportunity to commercialise a new class of
supercapacitors with significantly higher energy densities using
Ionic's proprietary reduced graphene oxide. Our immediate goal is
to translate the rGO technology into a system that can meet all the
stringent performance and specification requirements of commercial
supercapacitors."
For further information contact:
CAP-XX Limited
Anthony Kongats (CEO) +61 (0) 2 9428 0139
Kreab (Financial PR)
Robert Speed +44 (0) 20 7074 1800
Allenby Capital (Nominated Adviser
and Joint Broker)
David Hart / Alex Brearley (Corporate
Finance)
Tony Quirke (Sales and Corporate
Broking) +44 (0) 20 3328 5656
Cenkos Securities plc (Joint Broker)
Neil McDonald / Pete Lynch +44 (0) 13 1220 6939
More information is available at www.cap-xx.com
Notes to Editors:
Ionic Industries is a Melbourne, Australia based company
developing new forms of graphene for a variety of markets. Ionic's
work on commercialising graphene materials began in collaboration
with Monash University in 2011. The company's work has focused on
nano-filtration for water treatment, energy storage and, more
recently, conductive coatings for sensing applications. The
collaboration with Monash has resulted in six government grant
programs with a combined value of over $3 million, numerous
publications and global recognition, particularly in the field of
energy storage. In addition to government grants, Ionic's work has
been funded through approximately $4 million in equity investment.
Ionic has also entered into a binding agreement to acquire the
advanced materials company Imagine Intelligent Materials, including
plant and equipment for the production of graphene materials and
over 20 patents on the applications of graphene materials. Ionic
operates from its factory and laboratory facilities in Mt.
Waverley, in close proximity to Monash University.
CAP-XX (LSE: CPX) is a world 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
-ENDS-
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