Forsee Power inaugurated its battery systems French plant in Poitiers (capable of 2,500 bus batteries per year)

Forsee Power has inaugurated its production plant of battery systems in Poitiers (France). It consists of more than 15,000 sqm with more than 200 employees and 5 assembly lines with a production capacity of nearly 1 GWh (more than 2,500 bus batteries per year). The goal is to reach 4 GWh by 2027.

Thanks to the financial support of the State, the New Aquitaine region and the “Federal Mogul” revitalization fund, the company now benefits from a unique production site of more than 15,000 sqm, divided between production, storage, office, social and R&D areas.

In April 2022 Forsee Power announced that it has designed and produced 1,200 battery systems for electric buses to date. In 2021, Forsee Power launched its ZEN Slim range of modular batteries, the world’s thinnest, offering four models with energy densities ranging from 8 to 21 kWh (with Wrightbus as first customer).

Forsee Power financial results Q1 2022

Releasing its sales for the first quarter of 2022 a few days ago, Forsee Power announced that “Order book for 2022 confirms a sustained level of activity, especially in the heavy vehicle segment”. Light vehicle segment went up 62% to €4.8m, thus driving growth of French battery specialist business.

Forsee Power achieved sales of €18.5 million in the first quarter of 2022, up 11%. This growth was driven by the light vehicle segment (+62%), which benefits from a shorter commercial cycle than the heavy vehicle segment.

The heavy vehicle segment, which has a longer commercial cycle and accounts for 74% of quarterly activity, will accelerate during the year.

The level of the order book for 2022 continues to increase, with a good recovery in the bus segment, accelerated by the environmental and regulatory context, Forsee Power says.

Forsee Power’s roadmap looks at the USA

Forsee Power’s development roadmap is based on “the opening of an industrial site in the United States, for which the company is currently prospecting, with the aim of starting up operations by the end of 2022; the development of commercial partnerships, particularly in the high value-added markets of off-highwayand rail vehicles; the roll-out of the sustainable development roadmap, with the release of extra-financial performance statement, including a section on the European taxonomy, to be published in the coming weeks; the ongoing R&D activities in order to consolidate its technological leadership and expand its product and service offering”.

Christophe Gurtner commenting financial results Q1 2022

Christophe Gurtner, Founder, Chairman and Chief Executive Officer of Forsee Power said: “During this first quarter of 2022, Forsee Power posted good commercial performances, particularly in the light vehicle segment. In a challenging environment marked by uncertainties related to the Covid-19 crisis in China, where the Group operates one of its four production sites, indirect consequences related to the conflict in Ukraine (logistical impacts between Asia and Europe, increase in raw material prices) and tension on the supply of certain electronic components, our quarterly revenues nevertheless grew by +11% and our order book for 2022 continues to strengthen. As a reminder, as of January, 31st 2022, the backlog was already higher than the revenue generated in 2021. Thus, we continue to build on our leading position in the expanding sector of zero-emission mobility by winning numerous tenders from new customers. We look forward to the rest of the year with confidence thanks to our close relationships with our customers and historical partners and we are committed to following our development plan with the necessary discipline in order to achieve our long-term financial objectives.”