History

Anthony Kongats (founder of CAP-XX) partners with CSIRO to research and commercialize supercapacitor technology.

Energy Storage Systems (ESS) is launched to commercialize the intellectual property arising from CSIRO's supercapacitor research efforts.

ESS receives an US Australian government research grant. CAP-XX is established as a wholly owned operating subsidiary. ESS licenses CAP-XX to develop and commercialize its intellectual property.

The Company receives its first engineering sample order for a thin, flat supercapacitor. Anthony Kongats is appointed CEO. Michael Quinn is appointed chairman, along with the board of directors.

CAP-XX raises US $1.0 million in seed capital and builds a pilot production plant and ships its first product order. A predictive supercapacitor model is developed.

The Company raises US $6.6 million in Series A funding and delivers the design of its first wireless mobile product. A key business agreement is signed with Intel and a business development office opens in Hillsboro, Oregon.

CAP-XX raises US $17 million Series B funding from Intel, Acer, and global IT companies and venture capital organizations. Research and application engineering leaders are appointed. The Company launches key products with Intel and develops in-principle prototype and prototype production systems. An R&D Start Grant is received from the Australian Government for a third horizon product.

New electrolyte technology is developed to meet the needs of key customers. This involves partnering with Vision Systems/Invetech, an Australian company with world-leading expertise in manufacturing and commercialization of technology, to develop major production line components. As an outcome, CAP-XX reaches its goals in sales to the portable device market.

Additional production line components and assembly automation is completed. CAP-XX nearly triples its sales over the previous year.

Signs a manufacturing agreement with Polar Twin Advance of Malaysia. Establishes key global distributor relationships. Shipping in production quantities commences.