Fluence Energy, Inc. Stock Price, News & Analysis

Fluence Energy, a leader in energy storage, reported record revenues of $1.2 billion for fiscal year 2022, marking a 76% increase year-over-year. The fourth quarter saw revenues of $442 million, up 85% from Q3. GAAP gross margins improved to (5%) for the year and reached 2% in Q4. Strong order intake totaled $560 million, boosting the backlog to $2.2 billion. Management has set fiscal 2023 revenue guidance between $1.4 billion and $1.7 billion and aims for adjusted gross profit of $60 million to $100 million, signaling continued growth despite industry challenges.

National Grid Renewables has commenced commercial operations at its Noble Solar and Storage Project in Denton County, Texas. This 275 MW solar and 125 MWh energy storage facility is a significant stride for the company, marking its first utility-scale energy storage project. The Noble project is expected to prevent 450,000 metric tons of CO2 emissions annually and generate $26 million in tax revenue over the first 20 years. Power Purchase Agreements (PPAs) have been secured with The Home Depot, NRG Energy, and The Hershey Company.

Fluence Energy, Inc. (Nasdaq: FLNC) will report its fourth quarter and fiscal year earnings on December 12, 2022, after market close. A teleconference will follow on December 13, 2022, at 8:30 a.m. EDT for analysts to discuss the results. Analysts must register in advance, while general audience participants can join in listen-only mode. Fluence, a leader in energy storage and digital applications for renewables, operates in 30 markets, contributing to the clean energy transition.

Fluence Energy has expanded its product testing capabilities by opening a new lab in Pennsylvania, making a total of three global testing facilities. This facility will enhance the development and quality assurance of energy storage products, allowing for system-level testing critical for product launches. Fluence has shipped over 12,000 Fluence Cubes™, indicating strong market activity and regional operational investments.

Fluence Energy (NASDAQ: FLNC) has announced that its Fluence Mosaic™ software has been recognized by TIME as one of the Best Inventions of 2022. This cloud-based software uses advanced machine learning to help renewable and energy storage asset owners efficiently navigate complex electricity markets. Currently operational in California and Australia, Mosaic optimizes over 5 GW of clean energy assets globally. Fluence aims to enhance the value of renewables and storage investments while contributing to lower electricity costs and carbon emissions.

Fluence Energy (NASDAQ: FLNC) has announced the commercial operation of a 908 MWh battery energy storage complex in Lancaster, California. This includes the 100 MW / 400 MWh Luna Battery Storage Project and the 127 MW / 508 MWh Lancaster Area Battery (LAB), making it one of the largest in the world. The projects, which aim to enhance grid resilience during peak demand, utilize Fluence’s Gridstack and Mosaic technologies for optimized energy management and market earnings. Fluence operates over 1 GW of energy storage projects in California and over 5 GW globally, supporting the clean energy transition.

Fluence Energy and TransnetBW have announced the deployment of the world’s largest battery-based energy storage project, the 250 MW Netzbooster, located in Germany. Planned for completion in 2025, this initiative aims to enhance grid efficiency, reduce operating costs, and facilitate the transition to renewable energy. The project will respond rapidly to transmission failures and alleviate bottlenecks in energy transport. It symbolizes a significant move towards modernizing the energy infrastructure amid Europe's ongoing energy crisis.

Fluence Energy (NASDAQ: FLNC) has completed a successful large-scale fire test for its sixth-generation energy storage technology, demonstrating superior safety performance. Conducted with DNV, the test exceeded UL9540A safety standards, showing that potential thermal runaway events can be contained within a single unit, preventing escalation to neighboring units. The positive results indicate that Fluence’s modular design minimizes downtime and damage, ensuring operational efficiency even in adverse situations.