PRESS RELEASE

Forsee Power and KONČAR partner to electrify regional passenger trains in Europe

Paris, June 24, 2026 – 5:45 p.m. CEST – Forsee Power (FR0014005SB3 – ALFOR), the expert in smart battery systems for sustainable electromobility, announces that KONČAR – Electric Vehicles, the leading rail vehicle manufacturer in Croatia and a member of the KONČAR Group, has selected FORSEE ZEN 55 LFP RAIL battery systems to equip its new generation of Battery Multiple Units (BMU) and Battery Electric Multiple Units (BEMU) trains. As part of the program, KONČAR has placed an initial order with Forsee Power to equip eight trains for operation in Croatia.

KONČAR Group is Croatia’s leading provider of technology and engineering solutions, with more than a century of experience in energy, transport and digitalization. As a key driver of sustainable mobility in Southeast Europe, the Group plays a significant role in the modernization and decarbonization of transport systems. KONČAR – Electric Vehicles represents Croatia’s leading rail vehicle manufacturer and is a pioneer in battery-powered rail mobility solutions. The company has developed and deployed some of Europe's newest battery and battery-electric multiple units, supporting the decarbonization of regional rail transport across electrified and non-electrified networks.

BMUs and BEMUs, composed of two or three cars, are specifically designed to ensure passenger operations on non-electrified lines, using onboard FORSEE POWER ZEN 55 LFP RAIL battery systems for propulsion, auxiliary power, and regenerative braking.

Combined with a dedicated battery management system provided by Forsee Power, the ZEN 55 LFP RAIL enables the transportation of 200 to 300 passengers, while ensuring full interoperability with existing railway infrastructure, including tracks and signaling systems, 25 kV catenary, in-motion charging, and KONCHARGE charging stations. Building on its extensive experience in electrifying railway rolling stock, Forsee Power has developed the ZEN 55 LFP RAIL, a modular battery system specifically designed for demanding rail applications. The solution supports voltage architectures up to 1,500 V, ensuring seamless integration with existing rolling stock powertrains and facilitating deployment across a wide range of rail vehicles. Composed of 55 kWh modules, the system enables flexible configurations ranging from several kWh to multi-megawatt-hour energy storage systems, providing operators with a scalable solution for both hybrid and fully electric rail applications.

Designed to meet the railway industry's most stringent safety and reliability requirements, ZEN LFP RAIL is compliant with EN 50126 SIL2 and key international standards including IEC 62928, IEC 62619, IEC 62620, IEC 61373 and EN 45545. Leveraging robust LFP chemistry, the system delivers an exceptional lifetime of up to 7,000 cycles and a low total cost of ownership.

Forsee Power battery systems are fully designed by Forsee Power engineering teams and manufactured in Europe, Asia-Pacific and North America.

About KONČAR

KONČAR is a leading Croatian technology and engineering provider specializing in energy, mobility, and digital solutions. Through its Urban Mobility and Infrastructure rail division, KONČAR develops, manufactures, modernizes, and maintains rolling stock, including electric and diesel multiple units, battery-powered trains, locomotives, and low-floor trams.

Leveraging decades of expertise in electrical engineering and system integration, the company delivers innovative and sustainable transportation solutions for rail operators across Europe and global markets.

Headquartered in Zagreb, Croatia, KONČAR Group employs more than 6,500 people and exports its products and services to over 140 countries worldwide. The company combines proprietary technology development, advanced manufacturing capabilities, and a strong commitment to innovation to support the transition toward cleaner and more efficient mobility systems.

About Forsee Power

Forsee Power specializes in battery systems for commercial and industrial electric vehicles (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 5,500 heavy vehicles and 150,000 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 600 employees are committed to sustainable development, and the Group has obtained the Gold medal from leading sustainability rating agency EcoVadis. For more information: www.forseepower.com | @ForseePower

Contacts

Forsee Power
Sophie Tricaud
VP Corporate affairs
investors@forseepower.com

NewCap
Thomas Grojean
Investor Relations
forseepower@newcap.eu
+33 (0)1 44 71 94 94

NewCap
Nicolas Merigeau
Media Relations
forseepower@newcap.eu
+33 (0)1 44 71 94 98