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Feature11 July 2017,
updated14 July 2017Siemens AG / Smart InfrastructureMunich / Arlington, Virginia
Siemens and The AES Corporation announced on July 11, 2017 their agreement to form a new global energy storage technology and services company under the name Fluence.
The joint venture will deliver the Advancion and Siestorage energy storage platforms and will continue to develop new storage solutions and services. Fluence will empower customers around the world to better navigate the fragmented but rapidly growing energy storage sector and meet their pressing needs for scalable, flexible, and cost-competitive energy storage solutions.
Its global headquarters will be located in the Washington, DC area with additional offices located in Erlangen, Germany and other cities worldwide.
The transaction is expected to close in the fourth quarter of calendar year 2017, subject to regulatory and other approvals.
The joint venture will deliver the Advancion and Siestorage energy storage platforms and will continue to develop new storage solutions and services. Fluence will empower customers around the world to better navigate the fragmented but rapidly growing energy storage sector and meet their pressing needs for scalable, flexible, and cost-competitive energy storage solutions.
Its global headquarters will be located in the Washington, DC area with additional offices located in Erlangen, Germany and other cities worldwide.
The transaction is expected to close in the fourth quarter of calendar year 2017, subject to regulatory and other approvals.