MW Storage AG (MW Storage), a Swiss investment fund experienced in
financing, developing and operating energy storage systems, has
selected Fluence Energy GmbH (Fluence), a subsidiary of Fluence
Energy, Inc. (NASDAQ: FLNC) to deliver one of the largest
battery-based energy storage projects in continental Europe. The
100 MW/ 200 MWh storage system will be located in Arzberg,
Wunsiedel district, near the German – Czech border. The project
underlines the long-standing partnership between Fluence and MW
Storage that previously has delivered projects in Finland and
Switzerland.
The German Federal Network Agency estimates the demand for
large-scale battery storage will reach 23.7GW in 2037, which
corresponds to 237 projects of the same size as the one to be
delivered by MW Storage and Fluence. Additionally, according to a
recent study by Frontier Economics, by 2050, energy storage assets
will, among others, generate €12 billion in macro-economic value,
reduce CO2 emissions by up to 6.2 million tonnes in 2030, and lower
electricity costs for end customers.
Wilfried Karl, CEO at MW Storage, commented:
“At MW Storage, we are proud to play a key role in the German
energy transition. As the early adopters of storage systems and
solutions with knowledge and experience in planning, funding, and
operating them across Europe, we ensure the projects deliver
maximum value to investors, network operators, and society. By
working with trusted partners, such as Fluence, we are bringing to
the market a safe and highly advanced technology – a solution to
the challenges of the energy transition.”
Markus Meyer, Managing Director Germany & General
Counsel EMEA at Fluence, commented: “Germany has been an
important market to Fluence and is a critical part of our future
growth path. Fluence is the market leader for battery-based energy
storage in Germany. We are pleased to again partner with MW
Storage, this time delivering one of the largest commercially
operated storage system in the country. We have actively invested
in the German market and local technology development since its
earliest day and will continue doing so to meet the accelerating
demand.”
For Fluence, the project in the Wunsiedel district is another
megaproject the company is currently deploying in Germany.
Recently, Fluence was awarded the delivery of a 450 MW portfolio of
storage systems for German transmission system operators.
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 SaaS products 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.
Media contacts:
Fluence Joanna Spirodek, Senior Regional
Marketing Manager,
EMEA Joanna.spirodek@fluenceenergy.com +49 172
8662155
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 anticipated outcome and operational performance and
efficiency of the storage system, including power rating, the
expected performance of the Fluence Gridstack storage product, and
anticipated effects of Fluence storage systems for German
transmission operators on network congestions, renewable
penetration and security of supply. 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,
unforeseen circumstances outside of Fluence’s control which may
cause the project to not perform as anticipated, impacts to the
project from geopolitical instability, extreme weather or changes
in applicable regulations and policies in Germany or the European
Union, failure to achieve the anticipated benefits and operational
performance of the project, failure to achieve expected benefits of
storage systems for German transmission system operators, and
factors set forth under Part I, 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 28, 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.
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