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In a Mild hybrid electric vehicle, a battery serves as a continuous source of energy but is inefficient in supplying peak power demands required during torque assists for short duration. Moreover, the random charging and discharging that result due to varying drive cycle of the vehicle affects the life of the battery. In this paper, an Ultra-capacitor based hybrid energy storage system (HESS) has been developed for mild hybrid vehicle which aims at utilizing the advantages of ultracapacitors by combining them with lead-acid batteries, to improve the overall performance of the battery, and to increase their useful life. Active current-sharing is achieved by interfacing ultracapacitor to the battery through a bi-directional boost dc-dc converter.