- CAP-XX is very excited by the opportunities for its supercapacitors in the automotive markets and the Internet of Things and remains confident for the outcome for the year, shareholders at the annual general meeting today were told.

CAP-XX's chairman, Pat Elliott, said: "The board is very pleased with recent progress made with our large supercapacitors aimed at the automotive market. Our customers and potential partners have undertaken rigorous testing of our products, both in the field and in the lab, over the last several months, with excellent results.

"The board looks forward to potentially providing additional updates on our automotive applications over the remainder of this quarter and the first quarter of 2016. We are also very pleased with the progress with our research and development partner Thales, and other third-party product development contracts, which is expected to continue over the coming months.

"The board is also very encouraged by the interest shown by customers desiring small supercapacitors targeted at the various Internet of Things markets.

"Murata royalties have more than doubled over the last year, and while still modest in absolute terms, we are pleased that Murata is forecasting increased small supercapacitor sales.

""As a result of our research efforts and after rigorous testing we have now increased the voltage rating of our Thinline and our single G series cells to 2.5V and 2.75V peak, and our dual cells to 5V and 5.5V peak. We believe that the effect of these significant performance improvements will be to greatly broaden our addressable markets. More importantly, this makes CAP-XX supercapacitors even more cost effective than previously.

"Our new Thinline range of supercapacitors has been very well received, and we have seen an increasing level of requests for product testing and prototyping in end products. As customers plan for the changes to these new parts, we expect that we will see some deferment of orders from the first half of the financial year to the second half."

All resolutions put to shareholders at the AGM were passed.

At 9:49am: [LON:CPX] CAPXX Ltd share price was -0.85p at 6.05p

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