Fluence to acquire renewable energy SaaS company

Arlington-based energy storage and digital application company Fluence Energy Inc. announced Monday that it has entered into an agreement to acquire Nispera AG.

Nispera is a Zurich-based artificial intelligence and machine learning-enabled software-as-a-service company that targets the renewable energy sector. It helps clients monitor, analyze, forecast and improve renewable energy assets’ performance and value.

“I am very excited to welcome Nispera, a customer-centric organization that at its core is aligned with our values and mission to transform the way we power the world,” Fluence President and CEO Manuel Perez Dubuc said in a statement. “With this acquisition, we are primed to expand our portfolio of digital products and services for customers around the world. Furthermore, it represents a powerful cross-selling opportunity to offer energy storage products to owners of existing renewable energy assets and portfolios.”

The transaction includes an all-cash buyout provision of approximately $30 million for existing private investors in Nispera. In addition to the cash payment, Fluence will also issue restricted stock to Nispera’s management team that vests over three years for retention purposes.

Nispera will maintain its leadership team and its Zurich headquarters.

The company’s flagship offering is an AI-driven utility-scale asset performance management platform that currently manages 8 gigawatts of assets across 450 wind and solar projects. It also offers applications that Fluence will combine with its own to create a “manage app.” Nispera has a predictive maintenance application, an operations and maintenance application and a portfolio management application, along with an application that provides power generation forecasting services for energy assets.

The company’s software currently collects and analyzes data from wind, solar and hydro assets in addition to external sources in more than 25 countries.

Fluence, which was founded in 2018 as a joint venture of Arlington-based Fortune 500 energy company AES and industrial manufacturer Siemens, announced late last year that the Qatar Investment Authority will invest $125 million in the company, with AES and Siemens retaining approximately 44% shares each of the company. The company launched its initial public offering in October 2021.