CAP-XX, a leading manufacturer of thin supercapacitors and energy management systems, has secured a contract with a new customer in South Africa’s smart meter sector.
This 12-month agreement follows a successful design-in project and is expected to generate significant revenue in the fiscal year ending June 2025.
The customer will integrate CAP-XX’s supercapacitors into their smart meters for measuring gas and electricity usage. CAP-XX anticipates this initial contract will lead to future orders as the customer’s needs grow.
This development highlights the expanding role of supercapacitors in the booming global smart meter market. CAP-XX said supercapacitors are increasingly preferred in smart meters due to their high power density, rapid charge-discharge capabilities, and long operational life because they provide crucial backup power during outages, ensuring continuous data transmission and uninterrupted functionality.
CAP-XX shares were around 7% higher at the time of writing.