Siemens and AES Corp have joined forces to form a global energy storage technology and services company called Fluence.
The joint venture will combine AES Advancion and Siemens Siestorage energy storage platforms.
Each company will hold a 50% stake in Fluence, which will be headquartered in Washington DC.
The company will have additional offices at Erlangen in Germany and “select cities worldwide”, the partners said.
The agreement is expected to be finaliased in the fourth quarter of 2017, subject to regulatory and other approvals, they added.
Fluence will operate independently of the parent companies.
Siemens and AES have between them deployed or have been awarded 48 projects totalling 463MW of battery-based energy storage across 13 countries.
Siemens energy management division chief executive Ralf Christian said: “As the energy storage market expands, customers face the challenge of finding a trusted technology partner with an appropriate portfolio and a profound knowledge of the power sector.
“Fluence will fill this major gap in the market.”
Image: AES
