MELBOURNE, Australia, Feb. 07, 2024 (GLOBE NEWSWIRE) — Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimisation software for renewables and storage, today announced the expansion of a contract with Atmos Renewables to optimise an 870 MW portfolio of wind and solar assets in Australia’s National Electricity Market (NEM). Atmos Renewables will deploy Fluence Nispera™ asset performance management (APM) software to optimise the operational performance of the portfolio of assets alongside its current use of Fluence Mosaic™ AI-powered bidding software to optimise asset market trading. The contract expansion will include employing Nispera’s enhanced Loss Breakdown Analysis in a new Executive Dashboard and a new grid curtailment loss metric to unlock near real-time visibility into the root cause of energy production losses and the potential impact of performance improvement.
“We are honoured to strengthen the relationship with Atmos Renewables in deploying our ecosystem of advanced software solutions. We have worked closely with the Atmos team to optimise asset bidding into the NEM with Mosaic and now are continuing that collaboration with Nispera,” said Fluence VP & Country Director, Australia, Andrew Kelley. “As a market leader with deep expertise in the NEM, our software products are built on the insights of traders and asset managers who know the challenges of scaling diverse portfolios of renewables and storage assets.”
Curtailment of renewables is a growing challenge in Australia as the clean energy transition accelerates. In 2023, the Australian Energy Market Operator (AEMO) reported that curtailment of renewable generation had grown by almost 40 percent from the year prior. By unlocking synergies between Mosaic and Nispera, the grid curtailment loss metric added to Nispera will allow Atmos Renewables to quickly and accurately identify losses from grid constraints, narrow down which losses are caused by performance issues, and thereby help to identify the optimisation potential of their assets. This increased visibility supports the proactive management of the assets, enabling the detection and resolution of performance and budget deviations.
“We appreciate the guidance and expertise of Fluence’s team first in deploying Mosaic and now in helping us deploy Nispera for increased visibility into the optimisation potential of our assets,” said Atmos Renewables General Manager, Operations, Jason Porter. “Automated monitoring of grid curtailment in near real-time provides a more accurate view of asset performance potential, allows us to take swift, practical action, and saves our asset management team the time that was previously spent collecting and analysing this information manually.”
Fluence is a leader in Software-as-a-Service products for managing renewable energy and storage assets, with a combined portfolio of more than 22.3 GW of assets contracted or under management globally.
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimisation software for renewables and storage. With a presence in 47 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and AI-enabled SaaS products for managing and optimising 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.
Cautionary Note Regarding Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding anticipated operational performance of Mosaic and Nispera. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
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 a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, factors set forth under Item 1A.“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, filed with the Securities and Exchange Commission (“SEC”) on November 29, 2023, and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
Adele Zhang, Head of Marketing & Communications, APAC
Phone: +61 406529688
Lexington May, Vice President Finance & Investor Relations
Phone: +1 (713) 909-5629