Nesscap Energy Inc. Reports Year End Financial Results

Nesscap Energy Inc. ("Nesscap") (TSX VENTURE:NCE), a global leader in research,
development and manufacturing of ultracapacitor products, today reported its
financial results for the twelve month period ended December 31, 2011.


Sales for the twelve month period increased by 15% to $15.9 million (Korean Won
'KRW' 18.0 billion), compared to $13.6 million (KRW 15.3 billion) for the same
period in 2010. Net loss for the year was $4.8 million (KRW 5.4 billion)
compared to a loss of $1.8 million (KRW 2.0 billion) in 2010. The Company has
cash and cash equivalents equal to $1.6 million (KRW 1.8 billion).


"During this transitional year, we expect to maintain current revenue levels
while we enhance our platform for growth," said Dennis Orwig, Chief Executive
Officer of Nesscap Energy Inc. "New personnel have joined Nesscap and we will
continue to add strength to accomplish our multi-faceted strategy of research
and development, sales growth, and global expansion. We are focusing our
existing strengths and resources on those market segments which we have
identified as most promising and will position Nesscap as a leader in the
ultracapacitor industry." 


In April 2011, Nesscap signed an agreement with Trainelec, a subsidiary of
Spanish-based CAF, a world-class railway vehicle manufacturer, to supply
ultracapacitors for use in trams serving major cities in Spain. The order,
valued at $3.2-million (U.S.), was fulfilled in 2011. 


The China Quality Certification Centre ("CQC") approved Nesscap's 48V 166F
ultracapacitor module for use in automotive applications in China. The CQC
approval certifies that Nesscap's 48V166F modules fully comply with the QC/T 741
standard for electrical performance and mechanical durability for UC modules in
automotive applications. With this certificate, Nesscap is able to begin
full-scale participation in the Chinese HEV-bus market. Additionally, Nesscap
has begun technical and commercial discussions with major wind turbine
manufacturers in China regarding the use of Nesscap's ultracapacitors in their
pitch control systems.


During the year, the Company obtained external equity financing of USD 20
million from Open Joint Stock Company Rusnano, in Russia and Vardimco
Enterprises Limited ("Vardimco"), an affiliate of I2BF Holdings Ltd., in the
British Virgin Islands. The equity financing was formally completed, with final
approval from TSX Venture Exchange on January 12, 2012.


Mr. Dennis Orwig was appointed to the position of Chief Executive Officer in
September 2011. Mr. Orwig has extensive experience in power and technology
development as a Chief Executive Officer and senior executive of private and
public companies over the last 20 years. Prior to joining Nesscap, Dennis was
Chief Executive Officer of Novatec Biosol AG, a solar power technology and
manufacturing company. His senior management roles include the US Chief
Executive Officer of ABB Power Generation and Chief Executive Officer of
Catalytica.


Subsequent to the year-end, Mr. Jim Zuidema took the position of Chief Financial
Officer. Prior to joining Nesscap, Jim Zuidema held a variety of senior
financial positions in the global semiconductor industry. He began his financial
career in 1996 with Intel, in California, where he held positions supporting
sales and strategic planning. In 2000, Jim moved to Moscow, Russia where he
headed the finance and administration functions for Intel's fast-growing EMEA
emerging market region. In 2007, he helped start up and run finance operations
at Numonyx, a vertically-integrated flash memory company founded by Intel and ST
Microelectronics. Most recently, Jim held a senior financial role at Micron
Technologies which acquired Numonyx in 2010. Jim holds both an MBA and BS
Engineering degree from Cornell University. 


The audited annual financial statements and related MD&A can be found on SEDAR
at www.sedar.com.


About Nesscap 

Since its inception in 1999, Nesscap Energy 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 or capacitors. 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, 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.
Nesscap Energy Inc. (TSXV:NCE)
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