NCE

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


Net sales for the three month period increased by 58% to $3.8 million (KRW 4.3
billion), compared to $2.4 million (KRW 2.8 billion) for the same period in
2010. Net loss for the quarter was $2.6 million (KRW 3.0 billion) compared to a
loss of $0.92 million (KRW 1.1 billion) for the same period in 2010. This
increased net loss for the quarter in 2011 is mainly due to expenses related to
the Qualifying Transaction with Asian Resource Global Strategies Inc. through
the TSX Venture Exchange CPC program.


"We are excited to see our sales growth continue to increase and the pipeline
for orders is growing as we work with clients to develop ultracapacitor
products," said Dr. Sunwook Kim, Chief Executive Officer of Nesscap Energy Inc.
"The market for ultracapacitors is experiencing strong demand given the
diversified applications that they can be utilized in. The result provides end
users with solutions to enhance efficiencies while reducing operational costs." 


On January 24th, 2011, the Company completed its listing on TSX Venture Exchange
and became the first Korean company to trade on one of Canada's leading
exchanges. To celebrate the listing, Nesscap Energy was invited to open trading
on April 6th this year. 


During the quarter, the Company announced an agreement to supply ultracapacitors
valued at USD $3.2 million to Trainelec, a subsidiary of CAF, a railway vehicle
manufacturer based in Spain. Nesscap's ultracapacitors will be used in trams
serving major cities in Spain and will enable light rail vehicles or trams to
travel without overhead power lines or catenary power. The ultracapacitors
capture braking energy when the tram stops and will fully charge in about 25
seconds. The charged ultracapacitors provide enough energy for the vehicle to
reach the next stop on the route. The agreement follows previous orders stemming
from a development contract with CAF in early 2007.


For more information about Nesscap Energy's listing and the Qualifying
Transaction, please see the prospectus dated December 29, 2010 as well as its
Annual Information Form, copies of which are available on SEDAR at
www.sedar.com. 


The unaudited condensed consolidated interim financial information and related
MD&A can also 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.

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