NEoT Capital is born - Founded by several leading international companies including EDF and Forsee Power

NEoT Green Mobility Launch - The first financing package designed for electric mobility, in partnership with Caisse des Dépôts

(lifePR) ( Paris, )
NEoT Capital ("New Energy of Things"), is the first ever international company dedicated to funding distributed renewable energies and electric mobility.

Founded by several leading companies including EDF and Forsee Power, NEoT Capital was created to fill a specific need: that of large scale funding to support the global development of distributed renewable energies and electric mobility that has been made possible by the rapid evolution in energy storage technologies, and batteries in particular.

These leading companies decided to join forces to accelerate the development of these new solutions in the transition to clean energy through an unprecedented and unique scheme that meets two major challenges:

- Financial challenges: these solutions are profitable in the long term but stress the current investment budgets of users and operators

- Technological challenges: these solutions incorporate new technologies that demand specific expertise that may be too risky in the eyes of users and operators

"These solutions (distributed renewable energies and electric mobility) are becoming profitable without the need for subsidies, but they require major long term investment that is not generally the customer’s priority. Furthermore, these business models are generally difficult to finance as they are highly fragmented, involving innovative technology and requiring a real understanding of customers’ energy profiles. NEoT Capital is setting out to overcome these funding challenges", explains Pierre Devillard, CEO of NEoT Capital.

NEoT Green Mobility launch: the first investment program targeting electric mobility, in partnership with Caisse des Dépôts

NEoT Green Mobility was launched to provide up to several hundred million euros of capital over the next five years, in France and around the world.

In partnership with selected companies, this offer will provide local authorities and sector players with turnkey electric mobility solutions with the potential to cover any kind of transport (notably buses, trucks, trains, boats, industrial vehicles, and scooters, to name but a few).

NEoT Green Mobility’s products will include:

- Usage of all necessary assets (batteries, charging infrastructure, vehicles, etc.) for 3-20 year periods, according to the customer’s needs

- A comprehensive service that comes with guarantees for the lifetime of the contract (supervision, maintenance, technical support, end-of-life processing, and recycling, etc.)

"This comprehensive offer will accelerate the transition to electric mobility by operators and local authorities. Our aim is to provide the financial capacity and expertise needed to remove any obstacles", Pierre Devillard explains.

NEoT Green Mobility should be up and running in the second quarter of 2017, once regulatory consents have been obtained.

Other finance schemes are being developed by NEoT Capital for other applications in the energy transition, in particular distributed renewable energies.

"The launch of NEoT Capital is part of our clear strategy to play an active role in developing the innovative new business models that are accelerating the energy transition. NEoT Capital’s products complete EDF’s tools used to fund and support local authorities, businesses, and entrepreneurs. We are going to focus all of our energy on supporting NEoT Capital’s growth, working closely with EDF Group engineers and our partners in NEoT Capital", adds Philippe Ringenbach, Director of Investment and Entrepreneurship at EDF.

"The clean transport revolution will incur the need for vast sums of capital. With this innovative offer from NEoT capital, the cost of a battery is no longer an obstacle in the way of clean energy. Combined with its expertise, these finance solutions are a way for its customers to optimise their equipment assets while enjoying a very high level of service. Forsee Power will make a natural contribution to the development of NEoT Capital, which offers a strategic service for marketing our smart battery systems", points out Christophe Gurtner, CEO of Forsee Power and Chairman of NEoT Capital.

About EDF

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 37.1 million customers, of which 26.2 million in France. The Group generated consolidated sales of €71 billion in 2016. EDF is listed on the Paris Stock Exchange.

About Forsee Power

Forsee Power is a specialist in smart battery systems for electric transport, portable and mobile equipment and energy storage markets. As a major commercial and industrial player in Europe, China and North America, the Group designs, assembles and supplies energy management systems based on the most robust cells on the market as well as provides installation, commissioning and on-site or remote maintenance. With its modular solutions, Forsee Power guarantees that customers buying its batteries enjoy security, energy efficiency, thermal management, long-term reliability and long working life. The Group has already invested over €90 million in R&D and registered more than 80 patents. @ForseePower
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