Nesscap Energy Inc. Signs $3.2 Million Contract to Supply Ultracapacitors

Tue Apr 19, 2011 8:32am EDT

* Reuters is not responsible for the content in this press release.

  SEOUL, SOUTH KOREA, Apr 19 (MARKET WIRE) -- 
Nesscap Energy Inc. ("Nesscap") (TSX VENTURE: NCE), a global leader in
research, development and manufacturing of ultracapacitor products, is
pleased to announce that the Company has signed an agreement to supply
ultracapacitors valued at USD $3.2 million.

    The agreement with Trainelec, a subsidiary of Spanish based CAF
(www.caf.es), a world-class railway vehicle manufacturer, calls for
Nesscap to supply product with the option of increasing the order size by
20%. This contract follows previous orders stemming from a development
contract with CAF in early 2007. The order is scheduled to be fulfilled
through 2011.

    "As a result of this latest contract, Nesscap will become the world's
largest ultracapacitor supplier to the tram industry," said Dr. Sunwook
Kim, Chief Executive Officer of Nesscap Energy Inc. "As a result of our
focused development work for more than ten years with many global
companies for diverse applications, we are now seeing strong growth in
commercial orders."

    Nesscap's ultracapacitors will be used in trams serving major cities in
Spain. Ultracapacitor-based energy storage systems enable light rail
vehicles or trams to travel without overhead power lines or catenary
power. Specifically, this system allows electrical power catenary to be
installed locally at the passenger stops, and, when the vehicle stops,
the ultracapacitor energy storage system is fully charged in about 25
seconds. This provides enough energy for the vehicle to reach the next
stop on the route with remarkable traction and auxiliary power
performances. Ultracapacitors can help reduce the energy consumption of a
light rail or metro system by up to 30% by storing the energy released
when braking and using this energy during the next acceleration of the
vehicle. Moreover, lower peak current demand means that fewer substations
are needed and they can be further apart, which reduces infrastructure
investment.

    About CAF

    Construcciones y Auxiliar de Ferrocarriles (CAF), S.A. is one of the
international market leaders in the design, manufacture, maintenance and
supply of equipment and components for railway systems (www.caf.es).

    Trainelec is dedicated to the design, integration and production of
electric traction systems for the rail industry including all kind of
rolling stock as LRVs, Metros, Commuter Trains and Locomotives. Trainelec
incorporates improved energy efficiency based on ultra-capacitors via
train braking energy recuperation. The accumulated energy in the
ultra-capacitors during braking can be used later to drive the train,
thereby achieving an energy saving of as much as 30% (www.trainelec.com) 

    About Nesscap

    Since its inception in 1999, Nesscap Inc., has become an award winning
global leader in technology innovation and product development of
ultracapacitors. Attributes of the ultracapacitor allow for the
technology to be used in applications where power, life cycle
requirements or environmental conditions limit the suitability of
batteries. Uniquely structured, Nesscap products are used to replace or
enhance the performance of energy and power needs for modern applications
ranging from portable electronic devices to high-tech 'green' cars and
are available in both cells and modules. Nesscap features the widest
array of standard commercial products in the market from 3 farads to
6,200 farads with industry recognized alternative organic electrolytes.
Customers of the Company include transportation, power, industrial and
consumer markets. Technical and sales information can be found at
www.nesscap.com.

    Forward-Looking Statements

    Included in this news release are matters that constitute
"forward-looking" information within the meaning of Canadian securities
law. Such forward-looking statements may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes", "may"
or words of a similar nature. There can be no assurance that such
statements will prove to be accurate. Actual results and future events
could differ materially from such statements. Factors that could cause
actual results to differ materially include among others, regulatory
risks, risk inherent in foreign operations, commodity prices and
competition. Most of these factors are outside the control of the
Company. All subsequent forward-looking statements attributable to the
Company or its agents are expressly qualified in their entirety by these
cautionary comments. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims any
intent or obligation to update publicly forward-looking information,
whether as a result of new information, future events or otherwise.

    Neither the TSXV nor its Regulation Services Provider (as that term is
defined in the policies of the TSXV) has in any way approved or
disapproved of the contents of this press release.

Contacts:
Nesscap Energy Inc.
Debbie Bamforth
Corporate Communications
905-599-3322
dbamforth@nesscap.com
www.nesscap.com

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