CAP-XX said a global tier-1 motor vehicles maker has asked for its memorandum of understanding (MoU) with the super-capacitors outfit to be extended.
The automotive MoU is for the development of CAP-XX's large automotive super-capacitors for a stand-alone system that can serve both original equipment and after-market applications.
The system is the first commercial application for CAP-XX's large, automotive super-capacitors produced at the Lane Cove facility since the prototype production line was launched in 2013.
The unnamed automotive giant placed orders for additional evaluation units in June 2015, since when the units have operated without fault. The extension of the MoU also extends the exclusivity period for the use of the super-capacitors.
Meanwhile, the company's Thinline family of super-capacitors for applications in the “Internet of Things” - where machines interact with each other - is showing good progress, CAP-XX said.
The number of customers actively evaluating CAP-XX's Thinline super-capacitors continues to increase, with one lead customer planning mass production trials, it revealed.
"The collaboration with our MoU partner has provided CAP-XX with a new dimension of technological resources and first-class global distribution channels,” said Anthony Kongats, chief executive officer of CAP-XX.
Shares in CAP-XX were 12.4% higher at 2.72p in mid-morning trading.