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Tag: Fluence Energy Inc.

Fluence announces next CEO, president

Julian Nebreda will become Arlington-based energy storage and digital applications company Fluence Energy Inc.’s president and CEO on Sept. 1.

Nebrada succeeds Manuel Pérez Dubuc, who will step down on Aug. 31. Nebreda has been a Fluence board member since September 2021 and was most recently executive vice president and president of U.S. & Global Business Lines for Arlington-based Fortune 500 energy company AES Corp., a role in which he was responsible for the growth of AES’ renewables in the U.S.

AES co-founded Fluence as a joint venture with global industrial manufacturing conglomerate Siemens AG in 2018. Valued at more than $1 billion, the unicorn company launched its initial public offering in October 2021 and is on track to post fiscal 2022 revenue of $1.1 billion. Fluence announced late last year that the Qatar Investment Authority would invest $125 million in the company, with AES and Siemens retaining approximately 44% shares each of the company.

Fluence specializes in energy storage technology and associated services and solutions to complement renewable energy projects such as wind and solar farms. Its products include an artificial intelligence-driven technology platform for managing and bidding on energy assets. The company has 4,800 megawatts of energy storage across 185 storage projects deployed, under contract or under management in 30 markets worldwide.

“I am honored to lead Fluence into the next phase of its maturity and growth,” Nebreda said in a statement. “The potential of this company is tremendous and Fluence is well positioned to capitalize on the broader energy transition. As we take Fluence to the next level of success, we will focus on delivering sustainable profitability, while continuing to capture the growth offered by our young industry.”

 

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.

Fluence launches IPO that could raise $868M

Fluence Energy Inc., an Arlington-based energy storage and digital application company owned by Siemens and AES Corp., launched its initial public offering (IPO) of 31 million shares of Class A common stock Thursday at $28 per share.

The company is trading on the Nasdaq Global Select Market under the ticker symbol “FLNC.” As of 3:55 p.m. Thursday, the shares were trading for $35.43. The IPO, which could raise $868 million, is expected to close on Nov. 1.

Fluence has offered underwriters 30 days to purchase 4.65 million additional shares at the public price minus underwriting discounts and commissions.

The company, already valued at more than $1 billion, could raise its valuation to $4.7 billion. Fluence said it expects revenue of up to $699 million for the fiscal year that ended Sept. 30, a jump from the $561 million earned in the previous fiscal year.

All outstanding shares of Class B-1 common stock will be held by AES Grid Stability, Siemens Industry and respective subsidiaries, which will represent more than 90% of the voting power of common stock, according to the Securities and Exchange Commission S-1 form that Fluence filed Oct. 19.

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.

Fluence has more than 3.4 gigawatts of energy storage in 29 markets globally, and more than 4.5 gigawatts of wind, solar and storage assets in Australia and California.

Fluence files plans for IPO

Fluence Energy Inc., an Arlington-based energy storage and digital application company owned by Siemens and AES Corp., announced this week it has filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common stock.

The number of shares and price range for the proposed offering have not yet been determined, according to a news release from the company Tuesday. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc. and BofA Securities will act as lead book-running managers for the proposed offering, the company said, and IPO will be made  through a prospectus.

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. Fluence has more than 3.4 gigawatts of energy storage in 29 markets globally, and more than 4.5 gigawatts of wind, solar and storage assets in Australia and California.