Fluence Energy, Inc. - FLNC STOCK NEWS

MW Storage and Fluence Energy have announced their third battery-based energy storage project in Finland, a 20 MW / 20 MWh system near Mäntsälä in Uusimaa. This project aims to enhance grid stability and support lower electricity prices through energy trading. Fluence is set to build its fifth project for MW Storage, following prior collaborations in Finland, Germany, and Switzerland. Finland's goal to achieve carbon neutrality by 2035 and a 20% rise in electricity demand to 100 TWh by 2030 underscore the need for flexible, fast-responding energy storage solutions. The new project will contribute to this goal, adding to the 300 MW of grid-scale storage expected to be connected to the Finnish grid within two years. Both companies emphasize quality, safety, and technological advancement in their partnership.

Fluence Energy and Dispatch are collaborating to establish the largest stand-alone battery storage system in the Netherlands, set in Dordrecht's port area. This innovative 45 MW / 90 MWh system aims to bolster grid stability, reduce blackout occurrences, and optimize the use of renewable energy sources.

The Netherlands has targeted a 49% reduction in CO2 emissions by 2030, increasing to 95% by 2050 compared to 1990 levels, necessitating at least 9 GW of battery storage by 2030. The project aligns with national goals by providing critical grid balancing services and renewable energy storage. The partnership underscores Fluence’s commitment to advancing energy storage technologies, reinforcing its substantial presence and future growth in the Dutch market.

Fluence Energy and TransnetBW have commenced construction on Germany's first Grid Booster, a 250 MW battery-based energy storage system in Kupferzell. This project aims to improve the efficiency of Germany's transmission network by reducing grid congestion and improving renewable energy integration. The Grid Booster, anticipated to be operational soon, will support the transportation of wind energy from northern to southern Germany. The project spans 4.5 football fields and can charge or discharge 250 MW of power for an hour. The initiative is expected to contribute significantly to Germany's transition to a climate-neutral future, with an overall goal of reducing consumer electricity costs and generating €12 billion in economic value by 2050.

Fluence Energy, Inc. reported strong financial performance for the second fiscal quarter, with revenue of $623.1 million, a 10.3% gross profit margin, and a net loss of $12.9 million. The company's backlog stands at $3.7 billion, with total cash of $541.5 million. Fluence is reaffirming its fiscal year 2024 guidance, with expected revenue of $2.7-3.3 billion and adjusted EBITDA of $50-80 million.

Cognex announced the appointment of Dennis Fehr as Senior Vice President of Finance and Chief Financial Officer, effective May 3, 2024. Fehr brings over 20 years of global experience across manufacturing, technology, and energy industries. He will lead Cognex's global finance and information technology organizations, reporting to the President and CEO, Robert J. Willett.

Fluence Energy, Inc. announced the date of its second-quarter 2024 earnings release and a teleconference to discuss the results. The earnings report is set for May 8th, 2024, with the conference call scheduled for May 9th, 2024. Analysts need to register for the call to receive a unique PIN number and dial-in details. General audience participants can join in a listen-only mode via webcast. Supplemental materials and a replay of the call will be available on the company's website.

Fluence Energy, Inc. released its 2023 Sustainability Report, highlighting increased sustainability disclosures, including the company's first Task Force on Climate-Related Financial Disclosures (TCFD) report. The report outlines Fluence's sustainability strategy, goals for 2024, and beyond, emphasizing the company's commitment to addressing climate change and fostering transparency. Key highlights include a climate risk assessment, expanded GHG footprint analysis, responsible sourcing framework implementation, and mitigation of 60% of employee business air travel emissions in fiscal year 2023.

Fluence Energy, Inc. subsidiary, Fluence Energy B.V., chosen by ENGIE to implement a 35 MW / 100 MWh battery-based energy storage project at Maxima power plant in the Netherlands. The project aims to enhance energy security and flexibility in the Dutch electricity system amidst the country's ambitious emissions reduction goals. Fluence's partnership with ENGIE continues after the successful Hazelwood project in Australia.

SSE Renewables has chosen Fluence as the supplier for a 150MW / 300MWh battery energy storage system at Fiddler’s Ferry, Warrington. The project aims to balance energy supply and demand effectively, maximizing renewable technology usage.