CAP-XX DEFIES INVESTMENT TREND WITH US$16 MILLION IN B-ROUND FINANCING
SYDNEY, Australia, September 24, 2001 - cap-XX, a developer of a new power source for next-generation mobile devices, today announced that it had closed a B-round of financing worth US$16.2 million (AUD31 million). The funding has been invested in the company�s US holding company, cap-XX Inc. The round included new investors, ABN Amro, Walden International and Acer Technology Ventures. Repeat investors Intel Capital and Technology Venture Partners also participated in the series A financing last year. The funding from this round will be used to increase production, and expand sales and marketing, and research and development.
Cap-XX develops supercapacitors that help enable original equipment manufacturers to make smaller, thinner and longer-running devices such as notebooks and PDAs. cap-XX has made advancements in the design of low impedance supercapacitors, which are ideally suited for high power applications for mobile devices, particularly those using GSM and GPRS wireless technologies.
"Supercapacitors are energy and power storage devices that can replace conventional batteries and capacitors or be used to complement them," said Anthony Kongats, chief executive officer of cap-XX. "We expect the global market segment for supercapacitors to exceed US$6 billion by 2005 and we aim to take a leading position in that market segment with products that are protected by Japanese, European and U.S. patents."
"We believe that cap-XX has developed an innovative new technology," said J.P. Kaumeyer, Head of Private Equity for ABN AMRO in Australia. �This round of equity finance will enable the company to take the next step to full commercialization through the establishment of sales and marketing infrastructure in major global IT market segments."
"Continued investment in power management technology, like supercapacitors, is strategically important for the computing industry, and is one of the key reasons underlying this investment," said Frank Spindler, Intel Corporation's vice president and director of the Mobile Platforms Group. "We are encouraged by the growing momentum for emerging power management technology, like cap-XX's. Supercapacitors are one of the key technologies for driving next generation mobile devices."
cap-XX produces high surface area, thin film capacitors otherwise known as supercapacitors. The private company employs more than 30 people and is currently expanding in terms of staff and facilities. cap-XX has its main operational base in Sydney, Australia and a business development office in Oregon, USA. The company�s US holding company, cap-XX Inc. was established in preparation for a possible NASDAQ listing. Additional information is available at www.cap-xx.com.
About ABN AMRO Capital
ABN AMRO Capital investments are made by 17 multinational teams totaling approximately 150 professional based in Europe, the US, Australia and Asia. It is strongly positioned as a leading provider of buy-in and buy-out capital, pre-IPO funding and expansion capital. ABN AMRO Capital has invested more than US$2.5 billion in over 350 companies.
Operating out of Sydney Australia, ABN AMRO seeks to identify and review investment opportunities in Australian and New Zealand companies on behalf of ABN AMRO Capital.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests.
About Technology Venture Partners Pty Ltd ("TVP")
TVP is one of Australia's leading VC firms specializing in the information and communication technology sectors. TVP has offices in Sydney and Palo Alto in the USA, and funds under management in excess of A$200 million. For more information, visit www.tvp.com.au.
About Walden International
Walden International is a leading global venture capital firm, providing early stage technology companies with the advantage of an unrivaled global network since 1987. The firm's international venture capital funds comprise more than US$2 billion in committed capital as of April 2, 2001. Walden International's globally organized network of multi-cultural investment professionals spans the United States, Taiwan, Singapore, Philippines, Malaysia, India, Japan, China and Hong Kong. For more information, visit www.waldenintl.com.