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CAP-XX Ltd - Sydney-based maker of ultra-thin prismatic and cylindrical supercapacitors - Shares surge as it announces a joint venture with Ionic Industries Ltd, a Melbourne-based developer of energy storage devices. CAP-XX Ltd will own 51% of the joint venture, with Ionic Industries owning 49%. The joint venture aims to commercialise reduced graphene oxide for supercapacitors and other energy storage devices, CAP-XX says.
‘Ionic's rGO graphene oxide technology has already been shown to increase electrode energy density by over 100% compared to CAP-XX's current electrode,’ CAP-XX explains. The firm expects customers to receive the first samples around mid-2024, it adds.
Current stock price: 5.34 pence, up 15% on Wednesday in London
12-month change: down 40%
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