• More News

    Siemens and AES join forces to create the Fluence, the new global technology company energy storage

    Siemens and AES join forces to create the Fluence, the new global technology company energy storage
    • Fluence combines extensive technological knowledge, unique experience in the energy storage market and global reach of Siemens and AES to provide proven and competitive energy storage systems for a sector in rapid transformation.
    • Fluence will offer energy storage platforms Advancion and Siestorage and will continue to develop new solutions and storage services, serving customers in more than 160 countries.
    • The transaction is expected to close in the last quarter of 2017 after regulatory approvals.

    Siemens AG ( “Siemens”) and AES Corporation (NYSE: AES, “AES”) today announced the agreement between them to form a new global technology company services and energy storage with the name of Fluence. The joint venture will bring together 10 years of experience in setting AES industry, deploying energy storage in seven countries with an energy technology leadership century of Siemens and its worldwide sales presence in more than 160 countries. Combining the proven energy storage platforms Advancion AES and Siemens Siestorage with expanded services, the Fluence will offer customers a wide variety of options to meet the challenges of a rapidly transforming energy scenario. The company will allow customers worldwide, better navigate the fragmented energy storage sector, but growing rapidly and meet their urgent needs for scalable energy storage solutions, flexible and competitive.

    “Over the past 10 years AES has become a global leader in battery-based energy storage, utility-scale. The AES Advancion platform is present today in seven countries, with over 200 MW of energy storage implementation, including the largest installed-type system in the world “

    Siemens and AES will have joint control of the company with each having a 50% stake. The global headquarters of Fluence will be located in the Washington, DC with additional offices in Erlangen, Germany, and selected cities worldwide. The transaction is expected to close in the fourth quarter of 2017, subject to regulatory and other approvals.

    Fluence will operate independently of its parent companies, combining the skills and knowledge of robust energy storage solutions group based Siemens batteries under the Energy Management Division, a subsidiary of AES, AES Energy Storage. AES and Siemens are classified at the time, among the integrating energy storage leaders by Navigant Research. Together, the two companies have implemented or gained 48 projects totaling 463 MW battery-based energy storage over 13 countries, including the largest project of the energy storage world based on lithium-ion, near San Diego, California.

    “As the energy storage market expands, customers face the challenge of finding a reliable technology partner with appropriate portfolio and a deep knowledge of the energy sector. The Fluence will fill this important gap in the market. With the global reach of a sales force with international experience, as well as the technological leading platform Siestorage Siemens at its disposal, the Fluence will be perfectly equipped to meet this interesting market, “said Ralf Christian, CEO of the Energy Management Division Siemens.

    “Over the past 10 years AES has become a global leader in battery-based energy storage, utility-scale. The AES Advancion platform is present today in seven countries, with over 200 MW of energy storage implementation, including the largest system installed the kind in the world, “says Andrés Gluski, President and CEO of AES. “The partnership with Siemens to form the Fluence will offer small and large customers, a full range of energy storage solutions proven and innovative in more than 160 countries. This will accelerate the integration of renewable energy in the future energy network. ”

    The energy storage sector connected to the network should be expanded to a total installed capacity of three gigawatts (GW) by the end of 2016 to 28 GW in 2022, according to IHS Markit, equivalent to the electricity used by 18.6 million families. By incorporating energy storage for the electricity grid, facilities and communities around the world optimize their investments in infrastructure, increase flexibility and network resilience and accelerate the profitable integration of renewable electricity generation.

    Each of the technological platforms Advancion AES and Siemens Siestorage supports a multitude of energy storage applications, together representing a sequence of choices for customers which is a leader in the industry. Siemens brings its expertise in microrrede applications (microgrid) and network fractionation (islanding), hybrid renewable technologies, service spare capacity (black-start) and reducing consumption peaks, building an intimate knowledge of the energy needs of consumers as a world leader in original equipment manufacturing (OEM). AES brings his deep knowledge of large-scale batteries for energy storage solutions for flexible capacity, ancillary services such as frequency regulation, transmission and distribution reliability, integration of renewable energy applications dating back a decade and representation several of the largest energy storage facilities in the world.

    To learn more about the Fluence, visit http://fluenceenergy.com .

    Watch the livestream of the announcement on July 11 of 2017 to the 9:05 a.m. ET (10:05 GMT) or recording bit.ly/FluenceAnnouncement .

    This press release is available in www.siemens.com/press/PR2017070363EMEN .

    Siemens AG (Berlin and Munich) is a world power in technology, which relies on engineering excellence, innovation, quality, reliability and internationalization for over 165 years. The company operates in more than 200 countries, focusing on the areas of electrification, automation and digitization. One of the world ‘s largest producers of energy-efficient technologies and saving natural resources, Siemens is a leading provider of efficient electricity generation and power transmission solutions, as well as being a pioneer in infrastructure solutions, automation, transmission and software for the industry . The company is also a leading provider of medical imaging equipment – such as computed tomography systems and magnetic resonance imaging – and laboratory diagnosis, and clinical IT. In fiscal year 2016, which ended on September 30, 2016, Siemens generated revenue of € 79.6 billion and net income of € 5.6 billion. In late September 2016, the company had approximately 351,000 employees worldwide. More information is available on the Internet at www.siemens.com .

    The AES Corporation (NYSE: AES) is part of the Fortune 200 global energy companies. Through our diverse portfolio of distribution businesses and facilities for thermal and renewable power generation, sustainable energy supply and affordable to 17 countries. Our workforce consists of 19,000 people committed to operational excellence and meeting the world’s energy needs changing. Our revenue in 2016 was $ 14 billion; We have and manage assets totaling $ 36 billion. To learn more, visit www.aes.com . Follow AES on Twitter @TheAESCorp .

    AES Energy Storage , LLC a subsidiary of AES Corporation, is a leader in energy storage business solutions that improve the flexibility and reliability of our electrical system, providing customers a complete alternative to traditional investments in energy infrastructure, such as plant High power. The solution Advancion ®  4 the company ‘s energy storage is available for purchase by large utilities, electricity distributors (power markets) and independent power producers. AES Energy Storage and its partners are able to manage installations from conception to operation with a solution approved by the market and that includes the very best in battery technology and energy conversion. To learn more, visit  www.aesenergystorage.com .

    Security Disclosure of automatic admissibility of Siemens
    This document contains statements relating to our future business and financial performance, as well as events or developments involving Siemens and that may constitute forward-looking statements. They can be identified by words such as “expects,” “aim,” “anticipates , ” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “project” or other similar meanings . We may also make forward-looking statements in other reports, presentations, material distributed to shareholders and press releases. In addition, our representatives may from time to time make oral forward -looking statements. Such statements are based on current expectations and certain assumptions of Siemens’ management, many of which are beyond the control of the company. They are subject to various risks, uncertainties and factors, including those disclosed in particular in the chapter Risks in the Annual Report. If one or more of these risks or uncertainties become reality if underlying expectations do not occur or the assumptions prove incorrect, the results, performance and achievements of Siemens may differ (positively or negatively) from those described, explicitly or implicitly in the forward-looking statements. Siemens does not intend or assume any obligation to update or revise these statements of expectation in the light of events that differ from those anticipated.

    Security Disclosure of safe harbor AES
    This new release contains forward-looking statements in the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements include, among others, those related to future earnings, growth and financial and operational performance . Forward-looking statements should not be regarded as a guarantee of future results, but constitute AES’s current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions, which include, but are not limited to our accurate projections of interest rates, commodity price and foreign currency in the future, maintaining normal levels of operating performance and volume of electricity in our distribution companies and operational performance of our generation businesses consistent with historical levels, in addition to the achievement of productivity improvements and incremental growth investments planned within normalized investment levels and rates of return consistent with our previous experience .

    Actual results may differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. In documents filed by AES with the Securities and Exchange Commission (the “SEC”) are discussed important factors that may affect actual results, including the risks discussed under Item 1A “Risk Factors” and Item 7: Analysis and discussion of AES management in the annual Report 2016 on form 10-K, and in subsequent reports filed with the SEC. Readers are encouraged to read these documents to learn more about the risk factors associated with AES’s business. The company does not consider itself obliged to update or revise any forward statement, whether as a result of new information, future events or otherwise.

    Any shareholder who wishes a copy of the annual report 2016 of the company, on Form 10-K dated approximately February 24, 2017 the SEC may obtain it (excluding presentations) at no cost, forwarding your request to the Office of the Corporate Secretary, the AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. the presentations may also be requested, but a fee corresponding to the reproduction costs will be charged. A copy of the Form. 10-K can be obtained on the company website, www.aes.com .

    The text in the original language of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should refer to the text in the original language, which is the only version of the text intended to have legal effect.

    Contacts

    Siemens AG
    Heiko Jahr, +49 9131 7 295 75
    heiko.jahr@siemens.com
    ou
    Siemens US
    Annie Satow, +1 202-316-0219
    annie.seiple@siemens.com
    ou
    The AES Corporation
    Amy Ackerman, +1 703-682-6399
    amy.ackerman@aes.com
    ou
    AES Energy Storage, LLC
    Steven Goldman, +1 571-274-9404
    steven.goldman@aes.com