Latest news with #ChristopheGurtner
Business Wire
17-07-2025
- Automotive
- Business Wire
Forsee Power Reports H1 2025 Revenue of €80.8 million
PARIS--(BUSINESS WIRE)--Regulatory News: Forsee Power (FR0014005SB3 – FORSEE – the 'Company') (Paris:FORSE), the expert in battery systems for commercial and industrial electric vehicles, today announces its revenue for the first half of 2025, ended June 30, 20251. Christophe Gurtner, Founder & Chief Executive Officer of Forsee Power, stated: 'The past six months have been marked by a mixed market environment: limited visibility on certain segments, a continued wait-and-see attitude from several customers, and intensified competition from Asian players. In this context, Forsee Power has continued to implement its diversification strategy towards higher value-added markets. Thanks to the unwavering commitment of our teams and the renewed support of our shareholders, as confirmed by the successful capital increase completed in June 2025, we are approaching the second half of the year, marked by low visibility and a challenging, highly competitive market environment, with determination and pragmatism, fully mobilized to prepare for the next stages of our development.' Revenue breakdown by segment IFRS, unaudited (€ thousands) Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change Heavy vehicles 29 413 38 864 32% 76 440 71 958 -6% Light vehicles 2 217 4 812 117% 7 957 8 851 11% Total revenue 31 630 43 676 38% 84 397 80 809 -4% Expand For the first half of 2025, Forsee Power generated €80.8 million in revenue, down 4% versus H1 2024, reflecting a softer market momentum caused by industrial customers' cautious stance. Revenue for the second quarter reached €43.7 million, representing a 38% increase compared to the prior year. This growth is mainly attributable to the expansion of the Group's scope of activity, notably with the integration of revenues from the railway and stationary storage segments, consolidated under the heavy vehicle division. While these new activities remain limited in volume at this stage, they represent the first tangible results of the Group's diversification strategy. In the first half of the year, the light vehicle segment recorded slight growth of +11% compared to H1 2024. Key highlights of the first half of 2025 Launch of PULSE PLUS, a high-power, long-life battery system for heavy vehicles; Launch of GO 6, a modular and high-performance battery designed for light vehicles as well as compact construction and industrial equipment; Turkey: Supply of FORSEE ZEN LFP battery systems to equip Otokar's e-TERRITO buses and partnership with Bozankaya for the supply of battery systems for trolleybuses; United Kingdom: Partnership between Connected Energy and Forsee Power to develop an energy storage solution based on second-life bus batteries; North America: Integration of FORSEE ZEN PLUS batteries by Innovative Rail Technologies to retrofit locomotives in the United States; agreement with Westward Industries to equip its electric vehicles; contract signed with a major U.S. city to supply 110 PULSE 26 PLUS RAIL battery units for 55 tramways; Australia: Acceleration of orders from Custom Denning to electrify its buses with Forsee Power's durable battery systems. Strategy and outlook Forsee Power continues to implement its development strategy focused on high value-added markets, with a particular emphasis on buses, off-highway and mining vehicles, and railway applications. In a still mixed economic environment, the Group remains focused on diversification and on progressively converting its order book into revenue. Next financial communication H1 2025 results – September 17, 2025 at 5:45 p.m. CEST About Forsee Power Forsee Power is an industrial group specializing in smart battery systems for sustainable electric transport (light vehicles, off-highway vehicles, buses, trucks, and trains). A major player in Europe, Asia and North America, the Group designs, assembles, and supplies energy management systems based on cells that are among the most robust in the market and provides installation, commissioning, and maintenance on site and remotely. More than 4,500 buses and 145,000 LEV have been equipped with Forsee Power's batteries. The Group also offers financing solutions (battery leasing) and second-life solutions for transport batteries. Forsee Power and its 750 employees are committed to sustainable development and the Group has obtained the Gold medal from leading sustainability rating agency EcoVadis. For more information: | @ForseePower 1 This press release presents consolidated, unaudited revenue prepared in accordance with IFRS standards.
Business Wire
06-05-2025
- Automotive
- Business Wire
Connected Energy and Forsee Power to Develop Grid-Scale Energy Storage Using Second Life Batteries From Electric Buses
NEWCASTLE UPON TYNE, England & PARIS--(BUSINESS WIRE)--Regulatory News: Connected Energy and Forsee Power (FR0014005SB3 – FORSE) have signed a Partnership Agreement to jointly design and develop a modular, scalable energy storage solution. This will combine Connected Energy's proven second life technology with Forsee Power's ZEN 35 and ZEN 42 battery packs, which are deployed in about 1,500 electric buses in Europe. Additionally, the agreement includes the development of an operating model to facilitate future large-scale commercial deployment. Once electric vehicles (EVs) reach end of their first life, the batteries can be repurposed in energy storage systems for applications such as supporting renewable energy generation or behind-the-meter. This extends the batteries' working life and provides an additional revenue stream, making EV batteries both more sustainable and cost effective. In this way, second life EV batteries can play a crucial role in addressing growing global energy demands. Forsee Power specializes in battery systems for sustainable electric transport and is a major player in Europe, Asia and North America. Founded in 2010, Connected Energy has extensive expertise in delivering second life battery energy storage systems, with installations across Europe. ' This agreement with Forsee Power represents a significant step forward in delivering a new second life economy for EV batteries,' said Matthew Lumsden, CEO of Connected Energy. 'The availability of second life batteries is increasing rapidly and the best way to realize the value in them is through partnerships that span the value chain. By combining our expertise, we can deliver energy storage technology that delivers greater environmental and commercial benefits as the flow of batteries increases. ' 'We are glad to extend our partnership with Connected Energy initiated in 2021, to develop a grid-scale energy storage system using battery packs from electric buses that have completed their first life.' said Christophe Gurtner, Chairman & CEO of Forsee Power. ' Our company's vision is to develop a sustainable battery ecosystem to maximize the value of our batteries throughout their lifetime and contribute to the mitigation of climate change. Forsee Power, the leader of battery systems for buses outside of China, has equipped more than 4,200 buses. Thus, we have and will have access to a significant number of batteries once they complete their first life. As a consequence, the potential is huge. ' Both partners are committed to scaling these innovations to meet the global demand for energy storage. The first 2.5MWh system will be operational in the UK in the final quarter of 2025. Following this first project, it is anticipated that further projects, each typically exceeding 25MWh, will follow in the UK and France. About Connected Energy Since 2010, Connected Energy has pioneered the use of second-life EV batteries for energy storage. Working closely with industry leaders, the company delivers the most sustainable and innovative solutions for stationary energy storage, enabling organisations to meet growing energy demands while mitigating the environmental impact of EV batteries. For further information, visit About Forsee Power Forsee Power is an industrial group specializing in smart battery systems for sustainable electric transport (light vehicles, off-highway vehicles, buses, trucks, and trains). A major player in Europe, Asia and North America, the Group designs, assembles, and supplies energy management systems based on cells that are among the most robust in the market and provides installation, commissioning, and maintenance on site and remotely. More than 4,200 buses and 145,000 LEV have been equipped with Forsee Power's batteries. The Group also offers financing solutions (battery leasing) and second-life solutions for transport batteries. Forsee Power and its 750 employees are committed to sustainable development and the Group has obtained the Gold medal from leading sustainability rating agency EcoVadis. For more information: | @ForseePower
