Fluence Energy, Inc. Stock Price, News & Analysis

Fluence Energy, Inc. (Nasdaq: FLNC) has secured a new contract with Cubico Sustainable Investments to optimize performance at the 350 MW Solem I and II solar plants in El Llano, Mexico, using Fluence's Nispera asset performance management software. The collaboration aims to enhance operational efficiency and energy production through intelligent machine learning models. This contract reflects Fluence's ongoing partnership with Cubico, which includes projects totaling 626 MW in the EU and U.S., signaling strong growth in the renewable energy sector.

Fluence Energy (NASDAQ: FLNC) announced the appointment of Krishna Vanka as Senior Vice President and Chief Digital Officer, effective August 29. Vanka's leadership aims to accelerate the growth of Fluence's Software-as-a-Service (SaaS) business, which currently includes Fluence Mosaic™ and Fluence Nispera™, managing over 16 GW of assets. His extensive experience in building software solutions will support Fluence's mission to enhance digital applications for renewables and energy storage, driving the clean energy transition.

Fluence Energy (FLNC) reported third quarter results for the fiscal year ending June 30, 2022, highlighting a revenue of $239 million, a 14% decrease year-over-year, and a net loss of $61 million. Despite challenges from COVID-19 lockdowns, the company achieved a record energy storage product order intake of 1,493 MW in the first nine months, surpassing the previous year's total. Cash reserves rose to $762 million. Total backlog reached $2.1 billion. The CEO reported progress in mitigating margin pressures and expects improvements in project costs as supply issues ease.

Fluence Energy (NASDAQ: FLNC) has announced plans to open a new manufacturing facility in Utah to enhance regional delivery and tackle supply chain issues. This facility is set to begin shipping Fluence Cubes in September 2022, starting with a capacity of 75 units per week, aiming to expand to 150 units. The move is part of Fluence’s strategy to meet growing demand and strengthen business continuity. Additionally, the company is establishing spare parts hubs in Europe and the U.S. and expanding product testing facilities.

Fluence Energy (Nasdaq: FLNC) and nine signatories issued an open letter advocating for the rapid rollout of energy storage technologies in response to the REPowerEU plan. This plan aims to enhance Europe's energy security amid increasing demand and high dependence on natural gas. The letter emphasizes the need for strong policy frameworks and targets to facilitate energy storage deployment, which can optimize grid flexibility and reduce electricity costs. The signatories highlight battery-based storage as a key solution for sustainable energy integration, urging for necessary market structure reforms.

Fluence Energy (NASDAQ: FLNC) announced a contract to supply an 11.7 MW/34 MWh battery-based energy storage system in partnership with Münch Energie. The project, located in Merseburg, Germany, will enable the provision of renewable energy for 5,000 households daily and is expected to be completed in April 2023. This venture marks Fluence’s first project under the German Innovation Tender, enhancing Germany's renewable energy capacity while reducing reliance on natural gas. The project will facilitate participation in the secondary reserve market, promoting stability and affordability in energy supply.

Fluence Energy has launched the Fluence India Technology Centre in Bangalore, marking its first technology hub in Asia. This centre aims to enhance engineering capabilities and support global product strategy.

With a focus on battery-based energy storage solutions, the team in Bangalore will aid product development and delivery, contributing to India's clean energy goals, including a target of 500 GW renewable energy capacity by 2030.

Fluence Energy (NASDAQ: FLNC) has partnered with Rich Electric to deploy a 100 MW battery-based energy storage system in Hualien, Taiwan, aimed at supporting Taipower's automatic frequency control services. Slated for completion in mid-2023, this will be Taiwan's first 100 MW energy storage system and one of Fluence's largest projects in the region. Taiwan targets a cumulative 1,000 MW storage capacity by 2025. Fluence leads the global energy storage market with an 18% market share, bolstering its position in a rapidly growing sector.

Fluence Energy (Nasdaq: FLNC) announced the launch of Fluence Academy, an online training platform designed to enhance the skills of its customers in managing energy storage systems. The program offers over thirty self-paced courses covering maintenance, safety, and operational aspects of Fluence energy storage systems. As the energy storage industry grows, Fluence Academy aims to equip users with the knowledge to optimize performance and efficiency. Available initially to Fluence customers, the program is set to expand its reach in the future.