Nesscap Inc. Closes Bridge Round Financing of $9 Million

SEOUL, South Korea, Sep. 28 /PRNewswire/ -- Nesscap Inc., a South Korean-based ultracapacitor manufacturing and power storage solutions company, announced today that it has closed a bridge financing round in the amount of $9 million.

The round was led by a London-based venture capital fund, I2BF Venture Capital, with other local and international co-investors also participating. I2BF is an international fund management group which is focused on venture capital and public equity activities for diversified clean energy in the United States, Europe and Asia Pacific.

Nesscap plans to use the proceeds for expansion of its manufacturing and production capabilities as well as for working capital and general corporate purposes.

"I am especially pleased that I2BF's investment strategy and vision so closely matches with our long term strategic capital requirements," said Dr. Sunwook Kim, Nesscap Inc., Chairman of the Board and CEO. "It demonstrates their strong support for our technology, market growth and management team."

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 products are available in both cells and modules for the transportation, power and consumer markets. Complete technical and sales information can be found on our website at www.nesscap.com.

SOURCE Nesscap Inc.



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