Mitsui has joined Idinvest Partners and European Investment Bank for a $65.4m round for smart battery system producer Forsee Power.
France-based battery technology developer Forsee Power has raised €55m ($65.4m) in financing from diversified conglomerate Mitsui, private equity firm Idinvest Partners and the European Union-owned European Investment Bank.
Forsee develops, builds, installs and maintains smart lithium-ion battery systems for electric transport, energy storage, and portable and mobile equipment producers. The company also provides leasing options through a partnership with Neot Capital.
The funding will support recruitment and an R&D-heavy investment strategy as well as the tenfold expansion of Forsee’s manufacturing…
