Research and development (R&D) of electrochemical capacitors is discussed in terms of material characteristics and device performance and testing. Various chemistries and technologies being developed are identified and the status of and problems associated with each of the technologies are discussed. The technologies considered include those using various types of carbon and pseudo-capacitive materials such as metal oxides. What is needed to make the various electrochemical capacitor technologies cost competitive with batteries for different applications and markets is also considered. Electrochemical capacitors (especially double-layer capacitors) are intrinsically high power devices of limited energy storage capability and long cycle life; batteries are basically energy storage devices, which can be designed and used as relatively high power devices with a sacrifice in useable energy storage capacity. Both electrochemical capacitors and high power batteries are designed with thin electrodes, materials having nano-scale characteristics, and a minimum resistance. Much of the research on electrochemical capacitors is concerned with increasing their energy density with the minimum sacrifice in power capability and cycle life for deep discharges. Of special interest has been the development of advanced carbons with specific capacitance (F/g) significantly greater than the present values of 150–200F/g in aqueous electrolytes and 80–120F/g in organic electrolytes. Cost continues to be a major obstacle to the development of large markets for electrochemical capacitors particularly for vehicle applications. The development of lower cost carbons appropriate for use in electrochemical capacitors is underway by several speciality carbon suppliers. The goal is to reduce the cost of the carbon to $10–15/kg.