Nesscap Energy Inc
TSX VENTURE : NCE

Nesscap Energy Inc

February 23, 2011 12:55 ET

Nesscap Energy Inc. Appoints Robert Tressler as Chief Operating Officer and Commences CEO Search

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2011) -

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Nesscap Energy Inc. ("Nesscap Energy" or the "Company") (TSX VENTURE:NCE) is pleased to announce that effective today, Robert Tressler has been appointed as Chief Operating Officer and Head of Special Projects. Mr. Tressler will be responsible for directing and implementing the Company's sales and marketing operations as well as potential strategic projects.

Robert Tressler is a seasoned corporate executive with over 20 years of sales and marketing experience.

In his business career he has travelled extensively throughout Asia, Europe and the Americas in varied roles and responsibilities as they relate to sales, marketing, mergers, acquisitions, technology license transfers and executive management. Robert was with Maxwell Technologies from 1999 to 2006 as a corporate officer and Senior Vice President of Sales and Marketing for their ultracapacitor business

He has been with Nesscap since 2007 as the Company's Senior Vice President and General Manager.

In addition, the Company will direct a search for a new Chief Executive Officer as current founder and CEO, Dr. Sun-Wook Kim, intends to step down as Chief Executive Officer of the Company in favour of a successor with the skills to lead Nesscap Energy forward as a global technology company and focus on leading research and development activities. Dr. Kim together with two Directors of the Company, Ilya Golubovich and Richard Sutin, will direct the search for a new Chief Executive Officer. It is expected that the Company will also retain the services of an international executive search firm to assist with this mandate and that the CEO change will take place within 6 months.

"I am pleased to see the Company move forward into the next stage in its development. Having worked on this project for several years, I am more optimistic than ever about its potential and will continue to contribute to its development as a Director and on the research and development team," stated Dr. Kim.

Dr. Kim will continue to serve as a Director, Non-Executive Chairman and consultant to the Company to provide continuity to the management of the Company and the development of research and development projects.

About Nesscap Energy

Nesscap Energy is a leading developer and manufacturer of ultracapacitors and is the first Korean-based company to be listed on the TSXV. The Company is partnered with Hyundai Motor, a global automotive manufacturer, to develop ultracapacitors for applications in Hyundai's hybrid electric vehicles. In addition, Nesscap Energy is well positioned to take advantage of the rapid market growth for ultracapacitors in non-traditional markets such as China. In 2010, Nesscap Energy was one of only 10 corporations located in the Asia/Pacific region to be recognized by the Global Cleantech 100, as one of the most promising clean technologies companies in the world. Nesscap Energy's major shareholders include global blue chip companies such as Hyundai Motor and Singapore Technologies Kinetics.

Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, forward looking statements relating to the CEO search instituted by the Company and the timeline for its completion and the future role and involvement of Dr. Sun-Wook Kim with the Company. Readers are cautioned to not place undue reliance on forward-looking statements. Forward-looking statements are based on certain key assumptions made by the Company. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the CEO search may take longer than anticipated or that Dr. Kim would provide his services to the Company on different terms or not at all.. The forward-looking statements in this press release are made as of the date of this release and the Company undertakes no obligation to update publicly or revise any forward-looking statements whether as a result of new information or otherwise, except as required by applicable securities laws.

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.

Contact Information

  • Nesscap Energy Inc.
    Dr. Sun-Wook Kim
    Chief Executive Officer
    82-31-289-0711
    or
    Nesscap Energy Inc.
    Debbie Bamforth
    Corporate Communications
    905-599-3322