Mitsui strengthens capital alliance and concludes Collaboration Agreement with France's Forsee Power, promoting electrification of mobility

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has entered into a collaboration agreement with Forsee Power S.A. ("Forsee Power"), a leading French company in the design and manufacturing of smart battery systems for sustainable electromobility, with the aim of strengthening its capital alliance with the company. On November 3, 2021, Forsee Power listed its shares on Euronext Paris to accelerate its growth, innovating, developing on new markets and ramping up production capabilities to enable zero-emission sustainable electromobility.

With the realization of decarbonization and low-carbon societies becoming a globally important issue beyond individual industries, Mitsui first invested in Forsee Power in 2017. Since then, Mitsui and Forsee Power have focused on the "Electrification of mobility", centered on electric buses and scooters. In recent years, the trend towards electrification has been expanding to other commercial mobilities, including light three and four wheelers, agriculture and construction equipment, ships, and railways. To capture this demand, Mitsui will leverage the Collaboration Agreement with Forsee toward the goal of "Electrification of mobility" through expanded sales of Forsee Power battery systems, mainly in Japan and in other Asian regions. In addition, with respect to issues related to the realization of decarbonization and low-carbon societies, which the mining and logistics industries and other frontline business areas face, Mitsui will work together with Forsee Power to create integrated solutions that are unique to sogo-shosha.

One of the priority areas identified by Mitsui in its Medium-term Management Plan 2023 is "Sustainability Management; Evolution of ESG", and the company's vision for 2050 is to achieve net-zero emissions. Furthermore, Mitsui has identified energy solutions as one of its strategic focus areas, and places great emphasis on the creation of business that contributes to solutions to climate change issues.

Through this project, Mitsui will further promote the electrificaiton of mobility and the decarbonization of industrial sites in all industries in order to contribute to the creation of a society harmonized with the environment.