The agreement follows AES’s 10th anniversary in the industry. The new company will bring together AES’s ten years of experience of deploying energy storage across seven countries with over a century of Siemens’ energy technology leadership and its global sales presence in more than 160 countries.
Fluence will combine AES’s subsidiary, AES Energy Storage, with Siemens’ battery-based energy storage solutions group, currently part of its Energy Management division. Once operational, the new company will offer both the Advancion and SIESTORAGE energy storage platforms and related support and advisory services to customers around the world. AES’s regional business units will continue to own and operate energy storage assets within their markets.
AES innovators began exploring the use of batteries on the grid a decade ago, working with industry pioneers to prove the technical and commercial capabilities of advanced energy storage. Energy storage is now a rapidly growing sector that is transforming every part of the electric grid: reducing operating costs, improving system reliability, and accelerating the integration of renewable generation.
Fluence will empower customers around the world to better navigate the fragmented but growing energy storage sector and meet their pressing needs for scalable, flexible, and cost-competitive energy storage solutions. The new company is expected to launch officially by the end of the year, pending regulatory approvals.