Forsee Power, a provider of smart battery systems for sustainable electromobility, completed its acquisition of NEoT Capital shares from Mitsubishi Corporation.

With the aim of facilitating and accelerating the transition to electric mobility (buses or other vehicles), Forsee Power created NEoT Capital with EDF and Mitsubishi Corporation in 2016 to finance electric fleet development in the form of battery/vehicle/infrastructure rental.

These financing offers are based on the following principles:

• The equipment suppliers (battery, vehicle, infrastructure) sell equipment to the financial partner (and not to the end customer as in the case of a “dry sale”);
• The financial partner makes this equipment (or “assets”) available to the end customer (transport operator) against payment of rent; and
• The rental offer includes all the maintenance services and associated warranties.

Historically, Forsee Power held 15% of this company dedicated to financing in the renewable energy and electric mobility sectors; Mitsubishi Corporation and EDF through EDF Pulse Holding together held 85% of the share capital and voting rights.

This operation enables Forsee Power to strengthen its stake in the structure and at the end of the capital restructuring operations of NEoT Capital envisaged in the short term, Forsee Power will hold 50% of the share capital of NEoT Capital.

This operation reflects Forsee Power’s strategy of offering a complete range of products and services with a positioning on the entire value chain to support vehicle manufacturers and territories in their ecological transition with turnkey solutions.