Fluence to receive $124M of private investment from Qatar

Fluence Qatar investment

The global energy storage solutions provider, Fluence, announced in late December it had entered to a definitive agreement with the Qatar Investment Authority (QIA) for a $124 million investment that would accelerate the energy storage solutions globally.

Consummation of the transaction is still subject to closing conditions, as well as regulatory clearances; still Fluence has become an industry “unicorn”, because of the rarity of the event; and the sudden boost of its value to more than a billion dollars.

Still, joint owners of Fluence, the Virginia-based AES Corporation, and the giant Siemens will maintain 44% of Fluence’s stocks. As said above, the company will use this investment to enhance its energy storage solutions; particularly its digital ones, to boost them globally in order to help governments to achieve their energy transitions goals.

About the matter, Manuel Perez Dubuc, Fluence’s CEO, said: “We believe the global problem of climate change can only be tackled by leveraging the combined capabilities of technologists and investors from around the world.”

“We see energy storage as the linchpin of a decarbonized grid; adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage,” he concluded.

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Fluence as a global energy storage solutions provider

This transaction positions the company at the forefront of global energy transition efforts, as it aligns with the QIA’s vision and technology investments. As the company’s statement reads, QIA is one of the six founding members of the One Planet Sovereigns Wealth Fund Initiative; it pushes financials into the energy transition agenda.

QIA investments help countries around the world to achieve their increasingly ambitious energy transition and decarbonizing efforts. Thus, positioning Fluence as a top solutions provider for such issues.

As energy storage is key for the grids around the world to adopt renewables without compromising their reliability, Fluence’s solutions are vital for wind farms and solar outputs to be incorporated into countries grids.

“Energy storage is playing a crucial role in enabling markets and organizations to achieve their goals for a carbon-free energy future;” Andrés Gluski, AES’ CEO said. While Ebrahim Al-Mahmoud, QIA’s CEO added: “We believe energy storage will play a key role in delivering cleaner, more sustainable and more resilient electric grids around the world. This investment further underpins our commitment to responsible investing for a low-carbon future.”

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