Fluence files for IPO

Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on reddit
Reddit
Share on facebook
Facebook
Share on email
Email
A Fluence grid-scale battery energy storage system (BESS) project in the Philippines, completed earlier this year. Image: Fluence.

Energy storage technology provider Fluence is pursuing an IPO and has filed a Form S-1 with the US Securities and Exchange Commission (SEC). 

If successful, Fluence’s Class A common stock will list on the Nasdaq Global Select Market under the symbol FLNC, while the number of shares and price range are yet to be determined. 

The Arlington, Virginia-headquartered company officially launched in 2018 as a joint venture of German engineering company Siemens and US electric power company AES Corporation and released its sixth generation of battery storage system solution products last year. 

Rapidly becoming a leader in the grid-scale storage space through combining the experience and product knowhow of the two companies’ existing energy storage businesses, Fluence claims to now have over 3.4GW of energy storage deployed or under contract in 29 different global markets. 

It has also diversified into renewable energy and storage asset optimisation and management in the key markets of Australia and California, partly based on the recent acquisition of the digital energy management platforms of Advanced Microgrid Solutions (AMS). 

A recent US$125 million investment from sovereign wealth fund Qatar Investment Authority valued Fluence at more than a billion dollars

Lead book-running managers for the proposed IPO will be JP Morgan Securities, Morgan Stanley & Co, Barclays Capital and BofA Securities. Joint book-running managers include Citigroup Global Markets, Credit Suisse, UBS and others, while co-managers include Nomura Securities, Robert W Baird & Co and others. 

More to follow… 

Read Next

August 15, 2022
European gigafactory group FREYR’s new technology resources campus and business unit in Japan could see it partner with companies in addition to existing technology provider 24M, CEO Tom Jensen told Energy-Storage.news.
August 11, 2022
Norwegian renewable energy investor Magnora and the Alberta Investment Management Corporation have moved into the UK battery storage market.
August 11, 2022
State-owned Estonian energy company Eesti Energia is planning to build a 225MW pumped hydro energy storage facility, as part of a wider push to become independent of Russian energy.
August 10, 2022
SPAC Mustang Energy PLC is increasing its effective stake in CellCube to around 25% while a company launching a vanadium mine project in Australia has injected US$3.5 million in a new flow battery maker.
August 10, 2022
Australian startup MGA Thermal has bagged around US$1 million in government funding for a 5MWh thermal energy storage project while Israel-based Brenmiller Energy has inaugurated a 1MWh unit in Brazil.

Most Popular

Email Newsletter