16 October 2024
CAP-XX Limited
("CAP-XX" or "the Company")
Contract win
The Board of CAP-XX Limited, a world leader in the design and manufacture of thin, prismatic supercapacitors and energy management systems, is pleased to announce that the Company has signed a contract (the "Contract") with a new customer in the smart meter sector in South Africa (the "Customer"). CAP-XX was selected by the Customer for the Contract following a successful design-in project.
The Customer will incorporate CAP-XX's supercapacitors in their smart meter products which will then be distributed to the Customer's end customers to measure their gas and electricity usage. The Contract is for an initial 12 month period, with the majority of revenue from the Contract being expected to be recognised in the current financial year, being the year ending 30 June 2025. The Company anticipates that the Contract will lead to further orders from this Customer over the coming years as additional smart meter products are required for general maintenance of the product and from an increase in the number of end use customers.
The role of supercapacitors in the smart meter industry
The global smart meter market is experiencing significant growth, driven by the need for efficient energy management, government initiatives promoting smart grids, and the global transition to sustainable energy solutions. Smart meters, which monitor electricity, gas and water consumption in real time, enable both consumers and utilities to optimise energy use, reduce inefficiencies and improve overall grid reliability. This growth in smart metering systems is creating opportunities for advanced energy storage technologies using supercapacitors.
Supercapacitors, known for their high-power density, rapid charge-discharge capabilities and long operational lifetimes, are increasingly being integrated into smart meters to enhance performance and reliability. Their primary role in smart meters is to provide backup power during short outages or grid fluctuations. This ensures continuous data transmission and uninterrupted functionality, which is crucial for accurate monitoring and billing in smart grids. Supercapacitors also outperform traditional batteries in terms of longevity, with the ability to withstand a much larger number of charge-discharge cycles, making them a durable and efficient solution for the smart meter industry(1)(2).
Supercapacitors with higher energy densities offer additional advantages in high-demand applications, such as real-time data communication and emergency backup systems. By ensuring that smart meters continue to operate during power interruptions, supercapacitors support seamless data collection and storage until the grid is restored (3). Their ability to function in a wide range of temperatures also makes them ideal for smart meters installed in diverse environmental conditions.
The market for supercapacitors in smart meters is expanding alongside the growth of smart grid infrastructure. As utilities increasingly focus on improving grid reliability and energy efficiency, the integration of supercapacitors in smart meters should become more prevalent, contributing to the broader adoption of smart metering systems worldwide.
Market size and growth
According to market research, the global supercapacitor market was valued at approximately USD 4.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of approximately 23% from 2023 to 2030(4). Although smart meters represent a niche within this larger market, the demand for supercapacitors in this segment is rising due to increased investment in smart grid technologies, especially in North America and Europe, where energy infrastructure modernisation is a key focus(5).
The global smart meter market, which is expected to reach USD 19.98 billion by 2025, will likely see growing integration of supercapacitors as utilities and governments prioritise the development of efficient, resilient energy management system(6). This trend highlights the crucial role of supercapacitors and ultracapacitors in supporting the future of smart energy infrastructure.
References:
(1) Yadav, P., & Sonawane, M. (2020). "Application of Supercapacitors in Smart Metering System for Uninterrupted Power Supply." International Journal of Engineering Research & Technology (IJERT).
(2) Market Research Future (MRFR). "Supercapacitors Market Research Report - Global Forecast 2023."
(3) Samura, R. (2021). "The Role of Ultracapacitors in Smart Meters and Smart Grid Technology." Energy Storage News.
(4) Grand View Research. (2023). "Supercapacitors Market Size, Share & Trends Analysis Report By Product, By Application, By Region, And Segment Forecasts, 2023 - 2030."
(5) Mordor Intelligence. (2023). "Smart Meter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)."
(6) Research and Markets. (2022). "Global Smart Meter Market - Forecast to 2025."
For further information contact:
CAP-XX Limited
Pat Elliott (Chairman) +61 (2) 9157 0000
Lars Stegmann (Chief Executive Officer)
Allenby Capital (Nominated Adviser and Joint Broker)
David Hart / Piers Shimwell (Corporate Finance) +44 (0) 20 3328 5656
Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)
Notes to Editors:
About CAP-XX
CAP-XX (LSE: CPX) is a leader in the design and manufacture of thin, flat supercapacitors and energy management systems used in portable and small-scale electronic devices, and to an increasing extent, in larger applications such as automotive and renewable energy. The unique feature of CAP-XX supercapacitors is their very high-power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics and deliver similar benefits in automotive and other transportation applications.
For more information about CAP-XX, visit www.cap-xx.com
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