Forsee Power Achieves Positive Adjusted EBITDA in 2024

Forsee Power, specializing in battery systems for electric vehicles, announced its 2024 financial results with a revenue of €151.8 million. The company achieved a positive adjusted EBITDA of €0.8 million for the first time, marking a significant improvement from the previous year.

The diversified customer portfolio and strengthened tech leadership contributed to this success. The U.S. plant is now operational, complying with the Buy America Act. Revenue from heavy vehicles remained strong, despite an overall sales decline of 11% due to lower cell prices.

Forsee Power’s financial indicators showed robust improvement, with a 53% rise in current operating income and a 57% increase in net income. The cash position was bolstered by financing efforts, including a new €10 million credit line, setting the stage for growth in 2025.