Energy & Power
Meet Fluence: Siemens & AES’s new energy storage tech company
By Anthony Capkun
July 18, 2017 – Siemens AG and The AES Corp. are forming a new global energy storage technology and services company named Fluence, which will combine the capabilities of Siemens’ battery-based energy storage solutions group under the Energy Management division with AES’ subsidiary, AES Energy Storage.
“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,” said Andrés Gluski, AES president & CEO. “This will accelerate the integration of renewables into the energy network of tomorrow.”
Fluence will operate independently of its parent companies, with Siemens and AES each holding a 50% stake. The global HQ will be located in the area of Washington, DC, and the transaction is expected to close in Q4 2017, subject to regulatory and other approvals.