Siemens and AES launch new energy storage startup Fluence to compete with Tesla Energy
Today, Siemens and the AES Corporation announced a partnership agreement to form a new global energy storage technology and services startup, under the name Fluence. The company will empower customers around the world to better navigate the fragmented but rapidly growing energy-storage sector and meet their pressing needs for scaleable, flexible, and cost-competitive energy storage solutions.
The joint venture will deliver the Advancion and Siestorage energy storage platforms and will continue to develop new storage solutions and services. Fluence will empower customers around the world to better navigate the fragmented but rapidly growing energy storage sector and meet their pressing needs for scalable, flexible, and cost-competitive energy storage solutions.
Its global headquarters will be located in the Washington, DC area with additional offices located in Erlangen, Germany and other cities worldwide. The transaction is expected to close in the fourth quarter of calendar year 2017, subject to regulatory and other approvals.
“Over the past 10 years, AES has become a global leader in utility-scale, battery-based energy storage. Today AES’ Advancion platform is present in seven countries with more than 200 MW of energy storage deployed, including the largest installed system of its kind in the world,” said Andrés Gluski, AES President and CEO. “Partnering with Siemens to form Fluence will offer both large and small customers the full gamut of proven, state-of-the-art energy storage solutions in over 160 countries. This will accelerate the integration of renewables into the energy network of tomorrow.”
According to the the joint press release, Fluence will:
- Combine the extensive technology expertise, unique energy storage market experience, and global reach of Siemens and AES to offer proven and cost-competitive energy storage systems for a rapidly transforming sector.
- Deliver the Advancion and Siestorage energy storage platforms and will continue to develop new storage solutions and services, reaching customers in over 160 countries.
The transaction is expected to close in the fourth quarter of calendar year 2017 following regulatory approvals. AES Energy Storage is subsidiary of The AES Corporation.