Fluence Announces India Technology Centre, Underscoring Commitment to the Region and Execution of Global Product Strategy

BANGALORE, India, July 06, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (Nasdaq: FLNC), a global market leader in energy storage products, services, and digital applications for renewables and storage, today announced the opening of a new global technology centre in Bangalore. The Fluence India Technology Centre supports the execution of the company’s global product strategy by growing engineering capabilities and scaling global talent and strengthens Fluence’s local presence in the country.

The Fluence India Technology Centre marks a significant milestone for Fluence, becoming the company’s first technology centre based entirely in Asia. This complements existing technology teams in North America and Europe. Together, the company’s technology centre teams support Fluence’s regionally focused operational model and create a strong foundation for new product introductions and regionalized product support.

“With the launch of this technology centre, we will enhance our product offerings, engineering capabilities, and further demonstrate our core competencies in battery-based energy storage products and software,” said Fluence SVP & Chief Product Officer Rebecca Boll. “This team will be key to the expansion of our sixth generation product line, which is delivering a range of critical grid services to customers around the world, as well as the creation of 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, employees at the India Technology Centre are working in the areas of enclosure, battery, and inverter engineering, software quality assurance, product management, and more. Additionally, the technology centre will support the delivery of products to the Fluence India joint venture with ReNew Power and support the full lifecycle 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 centre and joint venture with ReNew are just the beginning,” said Fluence SVP & President, APAC Jan Teichmann. “Our investment in the region will enable us to partner with customers locally, develop expertise in local market requirements, drive product development for the region, and support the long-term growth of energy storage in India.”

Fluence’s flagship battery-based energy storage project in India was deployed in 2019 at a Tata Power (TPDDL) substation in Delhi. The 10 MW / 10 MWh project was developed by AES and Mitsubishi and is the largest energy storage system in South Asia.

About Fluence:

Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and digital applications for renewables and storage. With a presence in 30 global markets, 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 digital applications 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.

Forward-Looking Statement

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 present or historical fact included in this press release are forward-looking statements, including, without limitation, the anticipated engineering services that Fluence Technology Centre India may provide to Fluence customers in India and the globe.

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 significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Fluence’s control and are difficult to predict. Factors that may cause such differences in expected results include but are not limited to the following: actual use of the technology centre services by customers in practice, the ability to adequately answer Fluence customers questions and assist them in the maintenance and operation of their energy storage systems in real time, and the technology centre’s ability to run and operate without any defects 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 under the “Risk Factors” section in 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’s website at www.sec.gov.

Except as otherwise required by applicable law, Fluence disclaims any duty to update any 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. Should underlying assumptions prove incorrect, actual results and projections could differentiate materially from those expressed in any forward-looking statements.

Media Contact

Adele Zhang
Head of Marketing & Communications, APAC
+61 406529688
Adele.Zhang@fluenceenergy.com

Investor Relations Contact

Lexington May
Sr. Manager, Investor Relations
+1 713-909-5629
InvestorRelations@fluenceenergy.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c937377-d953-4d07-aa27-7ccb82018645