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 and nine month period ended September 30, 2011.


Net sales for the three month period increased by 23% to $4.6 million (KRW 5.3
billion), compared to $3.8 million (KRW 4.3 billion) for the same period in
2010. Net loss for the quarter was $1.1 million (KRW 1.2 billion) or $0.008 per
ordinary share compared to a net income of $146,320 (KRW 166 million) or $0.00
per ordinary share for the same period in 2010. The net loss was attributed to
sales and marketing expenses and also foreign exchange loss.


For the nine months ended September 30, 2011, the Company reported a sales
increase of 29% to $13.0 million (KRW 14.7 billion) and a net loss of $3.6
million (KRW 4.1 billion) or $0.03 per ordinary share. This compares to sales of
$10.1 million (KRW 11.4 billion) and a net loss of $970,830 (KRW 1.1 billion) or
$0.01 per ordinary share for the same nine-month period last year. Working
capital at September 30, 2011 was $1.6 million (KRW 1.8 billion), including
$607,880 (KRW 691 million) in cash.


"Nesscap has a unique product and opportunity to establish themselves as a major
player in the Ultacapacitor market and I am honoured to join and lead the
Company to the next level of growth." said Dennis Orwig, Chief Executive Officer
of Nesscap Energy Inc. "Our recently announced financing will provide Nesscap
with the expanded production capacity to assist with back orders and to fill
orders that we previously needed to turn away. In addition to our growth in
production, we are implementing a strategic focus on expanding our global sales
and service personnel positioned in existing and new targeted markets.


On September 26th, 2011, Nesscap welcomed Mr. Dennis Orwig to the Company as
Chief Executive Officer. Mr. Orwig has extensive experience in power and
technology development in the US, UK, Europe, the Middle East, Africa and Asia
markets. Dr. Sunwook Kim stepped down as Chief Executive Officer and continues
to serve as a Director, Non-Executive Chairman and remains active in the
Company's research and development projects.


Subsequent to the quarter end, Nesscap announced an investment agreement with
RUSNANO and Vardimco Enterprises, an affiliate of I2BF Global Ventures which
respectively subscribed for 50,955,000 and 2,681,842 Nesscap common shares, at a
price of CAD $0.38 per share, for aggregate gross proceeds of US $20,000,000
(based on a USD-CAD exchange rate of 1.0191). Proceeds from this financing will
be used for the establishment of a new full scale production facility for
ultracapacitors and research centre in the Russian Federation (US $15,000,000)
and for the expansion of Nesscap's current manufacturing and core R&D operations
in Korea (US $5,000,000).


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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