Expansion of sales operations

CAP-XX Limited

04 October 2023

 

4 October 2023

CAP-XX Limited

("CAP-XX" or "the Company")

Expansion of sales operations

The Directors of CAP-XX are pleased to announce the expansion of the Company's international sales operations with the appointment of four sales representatives for the North American market.

The appointments represent the first time that CAP-XX has engaged direct sales for the North American market and follows new CEO Lars Stegmann's drive to focus the Company's resources on technical led sales and broader geographic reach. The announcement follows the recent appointment of sales directors for Europe, India, and South Africa. CAP-XX is additionally expanding its distribution network, targeting the larger Tier 1 and Tier 2 distributors.

CAP-XX now has a multipronged distribution strategy which combines direct sales, distributors, and partnerships. CAP-XX is building relationships with potential and existing key customers, through regular engineering meetings with design teams, manufacturing groups and contract manufacturers. The process will ensure that its customers' product development teams become more familiar with the advantages of supercapacitor technology.

Following these appointments, and with its strengthened distributor network, CAP-XX will have 20 designated personnel covering North America in the Central/North, South East, South West and Texas/Mexico regions.

Lars Stegmann, CEO said "CAP-XX has introduced technical customer support early into the sales cycle to strengthen its direct relationships with customer design teams.  Expansion of our direct sales force will add greater geographic reach and increase direct customer engagement.  Added to our pipeline of imminent new product launches and commitment to innovation, we expect these measures to increase our competitive edge."

For further information contact:

CAP-XX Limited Pat Elliott (Chairman) Lars Stegmann (CEO)	[phone]
Kreab (Financial PR) Robert Speed	[phone]
Allenby Capital (Nominated Adviser and Joint Broker) David Hart / Piers Shimwell (Corporate Finance) Tony Quirke/Stefano Aquilino (Sales and Corporate Broking)	[phone]
Cavendish Securities plc (Joint Broker) Neil McDonald / Pearl Kellie	[phone]

More information is available at www.cap-xx.com

Notes to Editors:

CAP-XX (LSE: CPX) is a world leader in the design and manufacture of 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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