By Colin Kellaher

 

Fluence Energy Inc. on Tuesday filed with the U.S. Securities and Exchange Commission for an initial public offering.

The filing by the Arlington, Va., provider of energy-storage technology and services indicates it plans to raise $100 million, although that figure is often used as a placeholder to calculate filing fees.

Power-generation and utility company AES Corp. and Germany's Siemens AG launched Fluence as an energy-storage venture in January 2018.

The Qatar Investment Authority, Qatar's sovereign wealth fund, late last year agreed to invest $125 million in Fluence at a valuation topping $1 billion, leaving AES and Siemens each with roughly 44% stakes.

Fluence said it has applied to list its shares on the Nasdaq Global Market under the symbol FLNC.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 28, 2021 08:21 ET (12:21 GMT)

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