Global battery storage system integrator Fluence grew revenues 78% and doubled its gross profit margin in October-December 2022, its first financial quarter under the helm of new CEO Julian Nebreda.

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

ESS Inc’s recent special purpose acquisition company (SPAC) merger, which listed the iron flow battery manufacturer’s shares and warrants on the New York Stock Exchange, has raised US$246 million cash.

TWAICE, a German battery analytics software company founded in 2018 which already counts Audi and Daimler as well as European energy utility companies amongst its customers, has raised US$26 million in a Series B funding round.