CAP-XX signs global distribution agreement with Premier Farnell

CAP-XX said on Tuesday that it has signed a global distribution agreement with electronic components distributor Premier Farnell.

The AIM-listed company, which designs and manufactures supercapacitors and energy management systems, noted that Premier Farnell is part of Avnet, the second-largest electronic components distributor in the world, with annual revenues of $26.5bn.

Stocking over 950,000 electronic and industrial products from more than 2,000 suppliers, Farnell operates under the Farnell brand in Europe, Newark in North America, and Element14 in Asia.

CAP-XX chief executive Lars Stegmann said: "We are thrilled to partner with Premier Farnell. This collaboration strengthens our global footprint and ensures that CAP-XX's innovative supercapacitors are readily accessible to customers worldwide. Farnell's extensive network and reputation for supporting design engineers make them an ideal partner."

At 1055 GMT, the shares were up 14% at 0.14p.