Jun Hyung Kim joined the board of directors for Canada-based energy storage company Nesscap as automotive company Hyundai’s representative, replacing previous Hyundai director Hyun Jun Kim, it emerged last Wednesday. The news came as Nesscap officially announced a number of executive appointments.
Nesscap has also hired Stephen Oliva from energy control networking corporation Echelon as chief operating officer, while Jim Zuidema will take over as chief financial officer after a stint at semiconductor company Micron Technology. Jurgen Auer, formerly of Maxwell Technologies, is now Nesscap’s managing director for Europe.
Nesscap’s technology is based around ultracapacitors, which use an electric field to store energy and which can provide ten times the power of a battery. Nesscap’s ultracapacitors are used mostly in hybrid cars and public transportation vehicles such as electrical trains and trams.
In addition to the hirings, another Nesscap investor, cleantech asset management group I2BF Global Ventures, is converting 18.3 million series 1 preferred shares into common shares in Nesscap. The shares were the last remaining series 1 preferred shares issued by Nesscap.
Nesscap’s shareholders also include Japan-diversified conglomerate Mitani Sangyo, Bluetooth kit seller Wealth Bridge and Rusnano, a joint-stock company created by the Russian government to commercialise nanotechnology developments.