On December 18, 2017, a signing ceremony was held to mark Mitsui & Co., Ltd.'s investment in Forsee Power, a French battery system manufacturer.
The growing need for measures to tackle air pollution, and increasing environmental awareness, means that there is expected to be a progression towards electrification across a wide range of sectors. The electrification of the mobility sector is gathering momentum in Europe and China for not only cars, but for fixed-route buses, scooters, ships, and industrial machinery.
Forsee Power manufactures and sells battery systems for electric mobility, and in addition to strong sales results based mainly around electric buses in Europe and escooter in Asia, is also actively pursuing opportunities in the battery leasing business.
Through this investment, Mitsui & Co. will support the growth of Forsee Power, and continue contributing to the realization of a society which is kind to the environment. We will utilize our comprehensive strength cultivated in the materials, power infrastructure, and automobile businesses to promote initiatives with a focus on the battery lifecycle, including recycling and reuse of automotive batteries for the stationary storage market.
This investment is the 15th project under Mitsui's Business Innovation Project framework, which was established in October 2012. The Business Innovation Project framework is designed to support new business endeavors that fit with Mitsui's new regional strategies and new business focus areas, and that have the potential to generate excellent investor returns over the long term, without being subject to some of the strict criteria for investment and certain exit benchmarks stipulated in Mitsui's regulations.
Corporate profile of Forsee Power
|Official name||Foresee Power SAS|
|Head office||Paris, France|
|Date of Establishment||2011|
|Business||Manufacture and sale of battery systems|