Fluence Energy, an energy storage products and services provider formed by Siemens and AES, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Established in 2018 as a joint venture between Siemens and AES, Fluence states that it is enabling the global clean energy transition with market-leading energy storage products and services and digital applications for renewables and storage. The company provides configurable energy storage product, service, and digital application packages, as well as its AI-enabled Fluence IQ Platform to optimize renewable and third-party storage assets. Its customers include major utilities, developers, and commercial and industrial businesses around the world.
The Arlington, VA-based company was founded in 2018 and booked $732 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol FLNC. Fluence Energy filed confidentially on June 24, 2021. J.P. Morgan, Morgan Stanley, Barclays, BofA Securities, Citi, Credit Suisse, UBS Investment Bank, Evercore ISI, HSBC, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
