BANGALORE, India, 06 Jul. 10, 2022 (GLOBE NEWSWIRE) — Fluence Energy, Inc. (“Fluence”) (Nasdaq: FLNC), a global market leader in digital energy storage products, services and applications for renewable energy and storage, today announced oday announced the opening of a new Global Technology Center in Bangalore. The Fluence India Technology Center supports the execution of the company’s global product strategy by developing engineering capabilities and developing global talent and strengthening Fluence’s local presence in the country.
The Fluence India Technology Center marks a major milestone for Fluence, becoming the company’s first technology center entirely based in Asia. This complements existing technology teams in North America and Europe. Together, the company’s technology center teams support Fluence’s regional operating model and create a solid foundation for new product introduction and regionalized product support.
“With the launch of this Technology Center, we will enhance our product offerings, engineering capabilities and further demonstrate our core competencies in battery energy storage products and software,” said Rebecca Boll, SVP and Chief Product Officer of Fluence. “This team will be essential to expanding our sixth-generation product line, which provides a range of mission-critical network services to customers around the world, as well as creating next-generation products.”
Fluence’s team of technical experts in Bangalore will support the company’s global sales and growth objectives for all major product lines and enable flexibility and speed in product development. As the company’s largest global technology team, India Technology Center employees work in enclosure, battery and inverter engineering, software quality assurance, product management, etc Additionally, the technology center will support the delivery of products to the Fluence India joint venture with ReNew Power and support the full life cycle of their storage systems.
“India has an ambitious renewable energy capacity target of 500 GW by 2030. Fluence is committed to supporting India in the clean energy transition and our technology center and joint venture with ReNew are just one start,” said Fluence SVP & President, APAC Jan Teichmann. “Our investment in the region will allow us to partner with local customers, develop expertise in local market requirements, drive product development for the region, and support the long-term growth of energy storage by India.”
Fluence’s flagship battery-based energy storage project in India was deployed in 2019 at a Tata Power (TPDDL) substation in Delhi. The 10MW/10MWh project was developed by AES and Mitsubishi and is the largest energy storage system in South Asia.
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services and digital applications for renewable energy and storage. With a presence in 30 global markets, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular and scalable energy storage products, comprehensive service offerings and the Fluence IQ platform, which provides AI-based digital applications for managing and optimizing renewable energy and storage from any supplier. The company is transforming the way we power our world by helping customers create more resilient and sustainable power grids. For more information, visit our website or follow us on LinkedIn or Twitter.
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of current or historical facts included in this press release, are forward-looking statements, including, without limitation, the planned engineering services that Fluence Technology Center India may provide to Fluence customers. in India and around the world.
The forward-looking statements in this press release are based on our current expectations and beliefs regarding future developments, as well as a number of assumptions regarding 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 anticipate. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are beyond Fluence’s control and are difficult to predict. Factors that could cause such differences in expected results include, but are not limited to: actual use of Technology Center services by customers in practice, ability to adequately respond to customer inquiries Fluence and to assist them in the maintenance and operation of their energy storage systems in real time and the ability of the technology center to operate and operate without faults or errors. Fluence cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect Fluence is set forth in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission and available on the SEC website. at www.sec.gov.
Except as otherwise required by applicable law, Fluence disclaims any obligation to update the forward-looking statements contained in this press release, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. . If underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in the forward-looking statements.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c937377-d953-4d07-aa27-7ccb82018645