Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global
provider of energy storage products, services, and optimisation
software for renewables and storage, today announced that the
company has been selected by AGL Energy Limited (AGL) to deliver a
500 MW / 1000 MWh energy storage system for the Liddell Battery
Project. Located at AGL’s Hunter Energy Hub in New South Wales, the
project is the biggest energy storage system announced to date that
Fluence will be designing, engineering, and constructing in
Australia.
The project will use Fluence’s Gridstack™ energy storage product
with a 5-year service agreement contributing to AGL’s planned 850
MW national grid-scale battery rollout. Construction for the
project is expected to begin in early 2024, with the commencement
of operations targeted for mid-2026. The project will also utilise
Fluence's asset performance management software, Nispera™, to
optimise the operational performance of the asset.
“We are excited to approve another major grid-scale battery
project in our development pipeline, supporting the local economy
and creating energy transition jobs at our Hunter Energy Hub,” said
AGL Managing Director and CEO, Damien Nicks. “Importantly, the
Liddell battery will be a key component of achieving our interim
target of approximately 5 GW of new renewables and firming capacity
in place by 2030, marking a significant milestone in AGL’s
decarbonisation pathway and the transition of its energy
portfolio.”
“We are thrilled to expand our work with AGL and appreciate the
trust that their team has placed in our energy storage technology,”
said Fluence SVP & President APAC, Jan Teichmann. “We are
honoured to further strengthen our relationship with AGL with the
Liddell Battery Project, the second battery storage system we will
deliver to AGL in Australia. This grid-forming battery storage
system is an important milestone for Fluence since it is the
largest system announced to date that we will deliver in Australia,
which further demonstrates our long-term commitment to the
country’s energy transition.”
To date, Fluence has been selected to deliver over 1 GW energy
storage projects within Australia to enhance grid stability and
enable the country’s clean energy transition. Globally, Fluence has
deployed and contracted 7.6 GW of energy storage projects.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in
energy storage products and services, and optimization software for
renewables and storage. With a presence in 47 markets globally,
Fluence provides an ecosystem of offerings to drive the clean
energy transition, including modular, scalable energy storage
products, comprehensive service offerings, and the Fluence IQ
Platform, which delivers AI-enabled digital applications for
managing and optimizing renewables and storage from any provider.
The company is transforming the way we power our world by helping
customers create more resilient and sustainable electric grids.
For more information, visit our website, or follow us on
LinkedIn or Twitter. To stay up to date on the latest industry
insights, sign up for Fluence's Full Potential Blog.
Forward-Looking Statements
The statements described herein that are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, Section
21E of the Securities Exchange Act of 1934, as amended, and the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, statements
regarding the operational performance of the Liddell Battery
Project, expected timeline of the Liddell Battery Project, and
anticipated performance of Nispera. Such statements can be
identified by the fact that they do not relate strictly to
historical or current facts. When used in this press release, words
such as “may,” “possible,” “will,” “should,” “expects,” “plans,”
“anticipates,” “could,” “intends,” “targets,” “projects,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential” or
“continue” or the negative of these terms or other similar
expressions and variations thereof and similar words and
expressions are intended to identify such forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking.
The forward-looking statements contained in this
press release are based on our current expectations and beliefs
concerning future developments, as well as a number of assumptions
concerning future events, and their potential effects on our
business. These forward-looking statements are not guarantees of
performance, and there can be no assurance that future developments
affecting our business will be those that we have anticipated.
These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond our control) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements, which include, but are not limited to,
impacts to the Liddell Battery project from geopolitical
instability, extreme weather, and/or changes in Victoria and/or
Australia’s regulatory regime and energy goals relating to
renewables and energy storage, failure to achieve the anticipated
benefits and operational performance from the Liddell Battery
project, and other factors set forth under Item 1A.“Risk Factors”
in our Annual Report on Form 10-K for the fiscal year ended
September 30, 2023,filed with the Securities and Exchange
Commission (“SEC”) on November 29, 2023, and in other filings we
make with the SEC from time to time. New risks and uncertainties
emerge from time to time and it is not possible for us to predict
all such risk factors, nor can we assess the effect of all such
risk factors on our business or the extent to which any factor or
combination of factors may cause actual results to differ
materially from those contained in any forward-looking statements.
Should one or more of these risks or uncertainties materialize, or
should any of the assumptions prove incorrect, actual results may
vary in material respects from those projected in these
forward-looking statements. You are cautioned not to place undue
reliance on any forward-looking statements made in this press
release. Each forward-looking statement speaks only as of the date
of the particular statement, and we undertake no obligation to
publicly update or revise any forward-looking statements to reflect
events or circumstances that occur, or which we become aware of,
after the date hereof, except as otherwise may be required by
law.
Media ContactAdele Zhang, Head of Marketing
& Communications,
APACEmail: Adele.Zhang@fluenceenergy.com Phone: +61
406529688
Analyst ContactLexington May, Vice President of
Investor
RelationsEmail: investorrelations@fluenceenergy.comPhone: +1
(713) 909-5629
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/63ded6e2-6df4-4de9-9dd6-def3b9d8aaf5
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