Forsee Power takes over NEoT Capital shares from Mitsubishi Corporation

Forsee Power has completed the acquisition of NEoT Capital shares from Mitsubishi Corporation. Historically, the battery modules supplier 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. Forsee Power now announces that it has completed the acquisition from Mitsubishi Corporation of its 240,608 shares of NEoT Capital.

At the end of the capital restructuring operations of NEoT Capital envisaged in the short term, Forsee Power says it will hold 50% of the share capital.

Forsee Power has already equipped 1,200 electric buses worldwide. Wrightbus has just received its first commission out of the UK for its hydrogen bus model.

Forsee Power takes over NEoT Capital

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 in order to finance electric fleet development in the form of battery/vehicle/infrastructure rental. These financing offers are based on the following principles, Forsee Power sums up: 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”); then 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.