- Fluence combines the extensive technology expertise, unique energy storage market experience, and global reach of Siemens and AES to offer proven and cost-competitive energy storage systems for a rapidly transforming sector.
- Fluence will deliver the Advancion and Siestorage energy storage platforms and will continue to develop new storage solutions and services, reaching customers in over 160 countries.
- The transaction is expected to close in the fourth quarter of calendar year 2017 following regulatory approvals.
MUNICH & ARLINGTON, Va.--(BUSINESS WIRE)--Siemens AG (“Siemens”) and The AES Corporation (NYSE: AES, “AES”) announced today their agreement to form a new global energy storage technology and services company under the name Fluence. The joint venture will bring together AES’ ten years of industry-defining experience deploying energy storage in seven countries with over a century of Siemens’ energy technology leadership and its global sales presence in more than 160 countries. Combining the proven AES Advancion and Siemens Siestorage energy storage platforms with expanded services, Fluence will offer customers a wider variety of options to meet the challenges of a rapidly transforming energy landscape. The company 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.