1st Dec 2023 10:48
(Alliance News) - Cap-XX Ltd on Friday said that the Australian Taxation Office approved a research & development grant.
The Sydney-based supercapacitor and energy management system manufacturer said the grant and associated rebate total AUD2.1 million, about GBP1.1 million, with net proceeds for the company being AUD1.0 million.
Cap-XX shares rose 12% to 1.40 pence each on Friday morning in London.
Further, it gave an update regarding a planned joint venture it announced in May 2022. On Friday it said it formally signed a JV vehicle & shareholders agreement with Ionic Industries Ltd for the exclusive commercialisation of Ionic's reduced graphene oxide technology aimed to increase electrode density in supercapacitors.
