Fluence Expands Digital Services Center; Leverages Digitization to Further Optimize Global Fleet of Assets

Rhea-AI Summary

Fluence Energy, Inc. (NASDAQ: FLNC) has expanded its Digital Services Center (DSC) with a new Remote Monitoring and Diagnostics Center (RMDC) in Bengaluru, India. This expansion aims to optimize global fleet performance and deliver more value to customers. The DSC will serve as a central hub for applying operational data intelligence across 47 markets, providing insights for R&D and services functions.

The RMDC, co-located with Fluence's Global Innovation Center, will bring together experts to drive innovative customer solutions. Fluence plans to leverage digitization, AI, and its Nispera asset performance management software to address challenges in maximizing the lifetime value of storage assets. The company's services aim to resolve up to 90% of issues remotely, optimizing asset performance and operational productivity.

Positive

• Expansion of Digital Services Center with new Remote Monitoring and Diagnostics Center in India
• Centralization of digital capabilities to serve 47 markets globally
• Aim to resolve up to 90% of issues remotely, reducing on-site interventions
• Integration of AI and Nispera software for asset performance optimization

Negative

• None.

New Remote Monitoring and Diagnostics Center in India strategically leverages digitization, AI, and Fluence’s Nispera asset performance management software to help deliver value to customers

BENGALURU, India, July 24, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimization software for renewables and storage, today announced its Digital Services Center (DSC) has expanded with a new Remote Monitoring and Diagnostics Center (RMDC) in India. The RMDC is co-located with Fluence’s Global Innovation Center in Bengaluru and will bring together experts from across the business to drive innovative customer solutions. Fluence’s DSC is expected to serve as a central hub for applying operational data intelligence to the global fleet of assets managed by Fluence’s team across 47 markets and will provide insights for the company’s research and development, and services functions. These efforts ultimately are anticipated to help provide more value to customers by optimizing their assets' performance.

"Our expanded Digital Services Center underscores Fluence's commitment to operational excellence and customer success," said Roman Loosen, SVP, Chief Business Operations and Transformation Officer at Fluence. "By centralizing our digital capabilities and expertise, we aim to achieve best-in-class reliability for our customers and profit from our learnings on one of the largest installed bases of any energy storage solutions provider. Looking ahead, our Digital Services Center experts will continue strategically investing in digitization and the use of AI, while also leveraging the capabilities of our asset performance management software, Nispera.”

As the scale and complexity of utility-scale storage systems continues to grow, asset owners are facing new and multi-faceted challenges and opportunities in maximizing the lifetime value of their storage assets, including ensuring optimal asset performance and reducing the risk of system downtime while also upholding thorough health and safety standards. Fluence believes that it can help address these challenges by partnering with customers globally to provide comprehensive storage system services – currently utilized on some of the world’s largest storage systems – to help asset operational success.

Fluence’s DSC experts will provide both preventative and reactive storage asset maintenance, aiming to resolve up to 90 percent of issues remotely and providing valuable insights to field engineers when on-site intervention is necessary. Additionally, Fluence’s services are intended to enable real-time customer decision making through secure remote access to data and analysis across entire customer fleets and Fluence’s global installed base, helping to optimize asset performance and operational productivity.

About Fluence 

Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimization software for renewables and storage. With a presence in 47 markets globally, Fluence Energy, Inc. provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and AI-enabled optimization software for managing and optimizing renewables and storage from any provider. The company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.

For more information, visit our website, or follow us on LinkedIn or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog. 

Cautionary Statement Regarding Forward-Looking Statements

The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the anticipated operational performance of the DSC and its personnel and expected impact of the DSC on Fluence customers and their assets’ performance, including asset maintenance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, factors set forth under Part I, Item 1A “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, Quarterly Reports on Form 10-Q, and in other filings we make with the U.S. Securities and Exchange Commission from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

Media Contact
Shayla Ebsen, Director of Communications
Email: media.na@fluenceenergy.com
Phone: +1 (605) 645-7486

Analyst Contact
Lexington May, Vice President, Finance & Investor Relations
Email: investorrelations@fluenceenergy.com
Phone: +1 (713) 909-5629

FAQ

What is the purpose of Fluence's new Remote Monitoring and Diagnostics Center in India?

Fluence's new RMDC in India aims to optimize global fleet performance, provide insights for R&D and services functions, and deliver more value to customers by leveraging digitization, AI, and Nispera asset performance management software.

How many markets does Fluence's Digital Services Center cover?

Fluence's Digital Services Center covers 47 markets globally, serving as a central hub for applying operational data intelligence to the company's managed assets.

What percentage of issues does Fluence aim to resolve remotely for its storage assets?

Fluence aims to resolve up to 90% of issues remotely for its storage assets, providing both preventative and reactive maintenance services.

How does Fluence (FLNC) plan to address challenges in maximizing the lifetime value of storage assets?

Fluence plans to address these challenges by partnering with customers globally, providing comprehensive storage system services, and leveraging digitization, AI, and its Nispera asset performance management software to optimize asset performance and reduce downtime risks.