Global battery storage system integrator Fluence has released its Q4 and full-year results, which included the “transformative milestone” of achieving a positive net profit for the first time, CEO Julian Nebreda said.

Oil and gas major Shell is putting its residential battery storage and virtual power plant (VPP) company sonnen up for sale, according to German outlet Handelsblatt.

Fluence reported its highest quarterly and yearly revenues, forecasting adjusted gross profits of US$60 million to US$100 million for next year.

Stem Inc has posted record quarterly revenues and claimed it could begin recording positive EBITDA figures in the second half of next year.

New Fluence CEO Julian Nebreda is likely to oversee a period with less rapid top-line growth but a greater emphasis on making that growth profitable, an equity analyst told Energy-Storage.news.

LG Energy Solution has seen a drop in its profitability which according to the company’s CFO was largely caused by industry headwinds.

Analyst Oliver Forsyth from IHS Markit explains exactly how things are changing in BESS system integration.

Eos Energy Enterprises’ leadership has claimed gross positive margins can be achieved in a year and a half. 

Industry-watchers will closely follow how the recently completed acquisition of energy storage system integrator NEC ES by LG Energy Solution pans out.