Nesscap Energy Inc. Signs $3.2 Million Contract to Supply Ultracapacitors
19 Avril 2011 - 2:30PM
Marketwired
Nesscap Energy Inc. ("Nesscap") (TSX VENTURE: NCE), a global leader
in research, development and manufacturing of ultracapacitor
products, is pleased to announce that the Company has signed an
agreement to supply ultracapacitors valued at USD $3.2 million.
The agreement with Trainelec, a subsidiary of Spanish based CAF
(www.caf.es), a world-class railway vehicle manufacturer, calls for
Nesscap to supply product with the option of increasing the order
size by 20%. This contract follows previous orders stemming from a
development contract with CAF in early 2007. The order is scheduled
to be fulfilled through 2011.
"As a result of this latest contract, Nesscap will become the
world's largest ultracapacitor supplier to the tram industry," said
Dr. Sunwook Kim, Chief Executive Officer of Nesscap Energy Inc. "As
a result of our focused development work for more than ten years
with many global companies for diverse applications, we are now
seeing strong growth in commercial orders."
Nesscap's ultracapacitors will be used in trams serving major
cities in Spain. Ultracapacitor-based energy storage systems enable
light rail vehicles or trams to travel without overhead power lines
or catenary power. Specifically, this system allows electrical
power catenary to be installed locally at the passenger stops, and,
when the vehicle stops, the ultracapacitor energy storage system is
fully charged in about 25 seconds. This provides enough energy for
the vehicle to reach the next stop on the route with remarkable
traction and auxiliary power performances. Ultracapacitors can help
reduce the energy consumption of a light rail or metro system by up
to 30% by storing the energy released when braking and using this
energy during the next acceleration of the vehicle. Moreover, lower
peak current demand means that fewer substations are needed and
they can be further apart, which reduces infrastructure
investment.
About CAF
Construcciones y Auxiliar de Ferrocarriles (CAF), S.A. is one of
the international market leaders in the design, manufacture,
maintenance and supply of equipment and components for railway
systems (www.caf.es).
Trainelec is dedicated to the design, integration and production
of electric traction systems for the rail industry including all
kind of rolling stock as LRVs, Metros, Commuter Trains and
Locomotives. Trainelec incorporates improved energy efficiency
based on ultra-capacitors via train braking energy recuperation.
The accumulated energy in the ultra-capacitors during braking can
be used later to drive the train, thereby achieving an energy
saving of as much as 30% (www.trainelec.com)
About Nesscap
Since its inception in 1999, Nesscap 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. 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, industrial
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.
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.
Contacts: Nesscap Energy Inc. Debbie Bamforth Corporate
Communications 905-599-3322 dbamforth@nesscap.com
www.nesscap.com
Nesscap Energy Inc. (TSXV:NCE)
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