ARLINGTON, Va. and DOHA, Qatar and MUNICH, Dec. 30, 2020 /PRNewswire/ — Fluence, the leading world wide electrical power storage remedies company, declared now that it has entered into a definitive arrangement with the Qatar Investment decision Authority (QIA) pursuant to which QIA will commit to make investments $125 million in Fluence as a result of a personal placement transaction. Consummation of the transaction is matter to the gratification of customary closing circumstances, like regulatory clearances. QIA’s financial commitment delivers an additional strong fiscal companion to The AES Corporation (AES) and Siemens joint undertaking, even further supporting Fluence’s mission to renovate the way we power our world for a additional sustainable future. Fluence intends to use the web proceeds from the private placement to more speed up progress of its solution offerings, particularly digital products, and deployment of present goods in a lot more markets globally. AES and Siemens will keep on being key shareholders, just about every retaining an about 44 % stake subsequent the completion of the transaction and will carry on to aid Fluence’s lengthy-time period growth.
“We consider the worldwide issue of local climate change can only be tackled by leveraging the put together abilities of technologists and traders from around the planet,” said Manuel Perez Dubuc, Fluence’s Main Executive Officer. “We see electrical power storage as the linchpin of a decarbonized grid and introducing QIA to our global shareholder base will let Fluence to innovate even faster and address the huge global market for big-scale battery-based power storage.”
QIA is a person of six founding associates of the One particular Earth Sovereign Prosperity Fund Initiative, which is constructing climate alter into financial determination building, and the proposed expense additional highlights QIA’s developing aim on the progress of green technologies. Fluence’s mission and technological know-how-pushed providing aligns with QIA’s financial investment philosophy and QIA’s other the latest environmentally friendly technological know-how investments. With countries all around the world environment increasingly ambitious targets to minimize carbon emissions, Fluence is assisting speed up the adoption of renewables and is enabling utilities and power producers to integrate renewables at scale. Its impressive systems present storage alternatives for electrical power made by wind farms and other renewable resources – a crucial aspect in the move toward a reduced-carbon economic climate.
“We are very pleased to associate with Fluence, which is at the forefront of the worldwide generate to deliver power storage alternatives,” reported Mansoor bin Ebrahim Al-Mahmoud, QIA’s Main Govt Officer. “We believe that energy storage will engage in a essential function in offering cleaner, far more sustainable and a lot more resilient electric powered grids about the entire world. This investment further more underpins our dedication to liable investing for a very low-carbon long term.”
“Power storage is taking part in a crucial position in enabling markets and corporations to attain their goals for a carbon-free of charge vitality long term,” mentioned Andrés Gluski, AES President and Main Executive Officer. “We are quite pleased with Fluence’s achievements and present day announcement is an important milestone towards sustaining Fluence’s world-wide leadership in power storage and acquiring its expansion potential.”
“Vitality storage is a crucial pillar of the energy changeover. Siemens has described this as a significant extensive-expression growth place,” explained Matthias Rebellius, CEO of Siemens Clever Infrastructure and member of the Taking care of Board of Siemens AG. “QIA’s financial investment will help Fluence with its prosperous enhancement in a dynamic sector.”
The Fluence staff has been a driving power in the world strength storage industry for additional than a ten years, repeatedly opening new markets and revolutionary new purposes. This summer time, the firm introduced its sixth-era Tech Stack, comprised of built-in components, functioning application and digital intelligence engines. Built on 12 a long time of proprietary operating information from programs in the industry, the Tech Stack enables more rapidly deployment of standardized, modular units, reduced equilibrium of process charges, and really customizable answers to fulfill individual client requires. In October, Fluence announced its acquisition of AMS’ AI-driven software package and electronic intelligence platform for renewables and vitality storage, which can appreciably boost profits of energy storage property in wholesale marketplaces, and plans to accelerate investment in its electronic differentiation.
Fluence, a Siemens and AES firm, is the global current market chief in energy storage technological innovation remedies and products and services, combining the agility of a technological know-how business with the experience, eyesight and money backing of two very well-proven and revered market giants. Making on the groundbreaking work of AES Energy Storage and Siemens energy storage, the company’s purpose is to develop a much more sustainable long run by transforming the way we energy our planet. Providing style and design, supply and integration, Fluence gives confirmed power storage technological innovation options that tackle the various requires and challenges of clients in a speedily transforming power landscape. The company presently has around 2.4 gigawatts of initiatives deployed or awarded across 24 countries and territories around the world. Fluence topped the Navigant Research utility-scale energy storage leaderboard in 2018 and was named 1 of Speedy Company’s Most Impressive Corporations in 2019. Its sixth-technology Tech Stack won Professional Engineering of the Yr at the 22nd once-a-year S&P Worldwide Platts International Electricity Awards. To learn extra about Fluence, you should stop by: fluenceenergy.com
About Qatar Expenditure Authority (QIA)
Qatar Investment Authority (“QIA”) is the sovereign prosperity fund of the Point out of Qatar. QIA was launched in 2005 to invest and handle the condition reserve cash. QIA is amid the biggest and most lively sovereign prosperity cash globally. QIA invests across a wide range of asset courses and regions as well as in partnership with leading establishments close to the world to build a global and diversified expense portfolio with a extended-phrase viewpoint that can provide sustainable returns and contribute to the prosperity of the Condition of Qatar. For much more details, make sure you check out www.qia.qa
The AES Company (NYSE: AES) is a Fortune 500 global power corporation accelerating the long run of vitality. With each other with our several stakeholders, we’re strengthening lives by providing the greener, smarter energy remedies the world requirements. Our numerous workforce is fully commited to continuous innovation and operational excellence, though partnering with our clients on their strategic strength transitions and continuing to fulfill their vitality desires today. For much more information, visit www.aes.com
Siemens AG (Berlin and Munich) is a world wide engineering powerhouse that has stood for engineering excellence, innovation, high quality, reliability and internationality for extra than 170 a long time. Energetic about the environment, the organization focuses on intelligent infrastructure for properties and distributed energy devices and on automation and digitalization in the procedure and producing industries. Siemens delivers together the electronic and physical worlds to profit prospects and culture. By means of Mobility, a top provider of intelligent mobility methods for rail and road transportation, Siemens is encouraging to shape the globe market place for passenger and freight providers. Through its greater part stake in the publicly detailed company Siemens Healthineers, Siemens is also a globe-main supplier of clinical technological innovation and electronic well being services. In addition, Siemens holds a minority stake in Siemens Vitality, a world wide chief in the transmission and era of electrical electricity that has been shown on the stock exchange since September 28, 2020. In fiscal 2020, which finished on September 30, 2020, the Siemens Team generated income of €57.1 billion and internet cash flow of €4.2 billion. As of September 30, 2020, the enterprise had close to 293,000 employees all over the world. Further information is out there on the World-wide-web at www.siemens.com