Fluence, the energy storage systems developer, is now worth over $1 billion after QIA investment
The Qatar Investment Authority is investing $125 million into energy storage systems integrator and power management tech developer, Fluence, in a deal that will value the company at over $1 billion.
The joint venture between the American independent power producer, AES Corp. and the German industrial conglomerate Siemens, was already worth $900 million prior to the transaction, according to Marek Wolek, the vice president of strategy and partnerships at Fluence.
With the new cash, Fluence will look to develop and acquire software and services that can expand the company’s offerings to its core clients among utilities and independent power project developers, Wolek said.