SOURCE: NessCap Co., Ltd.

November 17, 2006 05:00 ET

NessCap Responds to the Patent Infringement Lawsuit by Maxwell Technologies

SEOUL, SOUTH KOREA -- (MARKET WIRE) -- November 17, 2006 -- NessCap, Inc., a privately held company recognized as a global leader in ultracapacitor technology, product development, sales and manufacturing, was sued for patent infringement by Maxwell Technologies. NessCap will aggressively defend itself in this action and will be represented in this lawsuit by Edwards Angell Palmer & Dodge LLP.

"NessCap Co., Ltd. (a Korean corporation, which is wholly owned by NessCap) was founded in the late 1990s on three core business principles: technology innovation, integrity and customer-centric initiatives," said Dr. Sunwook Kim, NessCap's founder, chairman of the board and chief executive officer. "These core principles have enabled us to grow our business each year while the competitive landscape continued to change and expand. We knew from the beginning that our long-term success would require us to invest heavily in our technology innovation to be recognized for our true value by our customers globally. We have spent considerable time and millions of dollars developing our technology, and building our business and our patent portfolio, which today numbers close to fifty. With the support of our board of directors and investors, we will use all the resources at our disposal to defend ourselves against this patent infringement lawsuit. We are reviewing the allegations with legal counsel and believe that the ultracapacitors made and sold by our subsidiary do not infringe any patent rights of Maxwell. We further believe that the asserted Maxwell patents are invalid. Within the last twelve months, Maxwell has attempted to merge with us, and has now sued us. I believe we will demonstrate that this lawsuit is without merit."

NessCap is a global leader in technology innovation and product development of ultracapacitors. We feature the widest array of standard commercial products in the market from 3 farads to 5000 farads with industry recognized alternative organic electrolytes. Our NessCap products are available in both cells and modules for the transportation, power and consumer markets. Technical and sales information can be found at http://www.nesscap.com.

Contact Information

  • Contact:

    NessCap Co., Ltd.
    Tel: 82-31-289-0721~5
    e-mail: Email Contact