Foresight Backs German Battery Storage Firm Mirai Power

Foresight Energy Infrastructure Partners II SCSp has injected capital into Mirai Power GmbH, a German firm rapidly establishing itself in the battery energy storage systems (BESS) sector. This strategic investment underscores the growing importance of grid-scale storage solutions in facilitating the global energy transition and highlights Foresight's commitment to backing early-stage platforms with significant growth potential.

Founded just in 2024, Mirai Power has quickly amassed an impressive development pipeline, currently standing at 12.5 gigawatts (GW). The company's focus on large-scale, transmission-connected battery assets, complemented by a discerning approach to distribution-level projects, positions it advantageously within Germany's dynamic energy market. This strategy aims to capitalize on the increasing demand for grid flexibility as renewable energy sources become more prevalent.

The backing from Foresight Group, a prominent investment manager specializing in real assets, is expected to fuel Mirai Power's ambitious expansion plans. While the company will continue to solidify its presence across Germany, the partnership also paves the way for international growth into other key European markets. The founding team of Mirai Power will remain at the helm, steering the company's next phase of development.

Richard Thompson, Partner at Foresight and Co-Manager of FEIP II, emphasized the critical role of battery storage in decarbonizing power systems. "Battery energy storage is a critical enabler of the energy transition, providing the flexibility and resilience required as power systems decarbonise," Thompson stated. He further noted Mirai's strong project pipeline and technical acumen in a competitive arena, expressing enthusiasm for supporting the company's scaling efforts.

This investment aligns with FEIP II's broader objective of cultivating a pan-European independent flexibility provider. The fund's strategy prioritizes investments in high-growth, nascent companies led by seasoned management teams, a profile that Mirai Power clearly meets. The German BESS market, a key component of Europe's energy infrastructure development, offers substantial opportunities for companies capable of delivering reliable and scalable storage solutions.

Marco Frascati, Managing Director and Co-Founder of Mirai Power, views the Foresight investment as a pivotal moment. "The investment from Foresight marks an important milestone in Mirai’s growth," Frascati commented. He highlighted that the capital infusion will accelerate the execution of their German project pipeline and support their expansion initiatives. Frascati also acknowledged the global BESS market's rapid growth and potential consolidation, underscoring how this partnership strengthens their strategic execution capabilities.

The global BESS market is experiencing significant expansion, driven by renewable energy integration targets and the need for grid stability. Projections indicate continued robust growth, with market size expected to reach tens of billions of dollars in the coming years. Investments like this one in Mirai Power are crucial for developing the necessary infrastructure to support a cleaner, more resilient energy future.