Nesscap Energy

About Nesscap Energy

Established in 1999, Nesscap Energy Inc. carved a niche as a specialized developer and manufacturer of ultracapacitors. The company, with its public parent headquartered in Toronto, Canada, and primary operations in South Korea, Germany, and China, focused on producing high-performance energy storage and power delivery solutions. Initially known as NESS Capacitor, the firm became a key player in the ultracapacitor market through technological development and a series of funding rounds, including venture capital and a 2011 IPO.

Nesscap's business revolved around the design, production, and sale of ultracapacitors, also known as supercapacitors or Electric Double Layer Capacitors (EDLC), for a diverse client base. Its customers were active across the mobility, automotive, industrial, and renewable energy sectors. The company's revenue model was based on the direct sale of these components, which were integrated into a wide array of modern applications, from portable electronics and medical devices to hybrid vehicles and large-scale wind turbines.

The core of Nesscap's offering was its portfolio of ultracapacitor cells and modules, which were noted for their high power density and ability to operate in demanding environmental conditions. The product lineup featured a broad range of standard commercial products with capacitances from 3 to 6,200 farads. A key differentiator was the company's focus on small and medium cell format ultracapacitors, which complemented the large-cell offerings of its competitors. These products were engineered for applications requiring rapid charge and discharge cycles, offering a long operational life of up to 500,000 cycles and high efficiency with low internal resistance. The XP-Series, for example, was specifically designed for enhanced durability in high-temperature and high-humidity environments.

In a strategic move to consolidate market position and expand its product portfolio, Maxwell Technologies announced its intention to acquire Nesscap's operating subsidiaries in February 2017. The acquisition, valued at approximately $23.175 million, was finalized in April 2017. The deal was seen as a way for Maxwell, a leader in large-cell ultracapacitors, to integrate Nesscap's complementary small-cell technology, gain pre-existing design wins in the automotive sector, and strengthen its footprint in industrial markets, particularly in Europe. Following the sale of its operating entities, the Canadian public parent company, Nesscap Energy Inc., was dissolved in 2019.