Update on Patent Infringement

CAP-XX Limited

18 December 2023

 

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.

18 December 2023

CAP-XX Limited

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

Update on Patent Infringement

Further to the Company's announcement on 18 July 2023, CAP-XX Limited, a world leader in the design and manufacture of supercapacitors and energy management systems, announces the following update on its existing patent infringement action against Maxwell Technologies Inc. ("Maxwell"), now a wholly owned subsidiary of Tesla Inc. ("Tesla").

On 15 December 2023, in the United States District Court for the District of Delaware in the case of CAP-XX vs Maxwell (C.A. No. 19-1733-JLH), the jury has affirmed that CAP-XX patents were invalid and as a result Maxwell does not infringe the nominated CAP-XX patents and Maxwell is not liable to pay CAP-XX damages nor license fees.

Whilst CAP-XX is disappointed with this decision, it is in discussions with its attorneys to agree the appropriate next steps.  While the Company cannot comment further at this time, we will provide an update in due course. Meanwhile, the Company looks forward to proceeding with its current product range, supported by a strong portfolio of current IP, to focus on the key short-term actions to maximise sales and deliver profitability.

For further information contact:

CAP-XX Limited

Pat Elliott (Chairman)                                                                             [phone]

Lars Stegmann (Chief Executive Officer)

Allenby Capital (Nominated Adviser and Joint Broker)

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

Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)

Cavendish Securities plc (Joint Broker)

Neil McDonald / Pearl Kellie                                                                   [phone]

Kreab (Financial PR)

Robert Speed                                                                                       [phone]

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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