Cap-XX shares soar on new product launch
Shares in electrical components firm Cap-XX (LON:CPX) soared over 50 per cent in early deals today as it confirmed the launch of a supercapacitor product.
Japanese firm Murata Manufacturing Co has formally launched the supercapacitor product this week, the company said.
The component, which will be used as part of LED flash bulbs in mobile phones and digital cameras, has been manufactured under a licence agreement between Murata and Cap-Xx.
Murata aims to produce 1 million supercapacitor units per month next year.
There is a 2.7 and 5 volt version of the product and Murata has set indicative prices for them at around £2.50 (300 yen) and £5.00 (500 yen) respectively.
"We are delighted that Murata announced mass production of supercapacitors under our manufacturing agreement," said Cap-Xx chief executive Anthony Kongats.
"This is an important milestone for both CAP-XX and Murata, as this revolutionary power management device is now available in volume from a respected major supplier, capable of supporting demand from widespread adoption by the mobile technology industry"
At 9:30 on AIM Cap-Xx shares were up 4.25p, about 46 per cent, changing hands at 13.5p each.
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