Business
Fluence Launches Ultrastack, its Highest-Performance Energy Storage Product to Date, to Transform Transmission and Distribution Grids
Fluence Ultrastack™ deployed as a transmission asset will reduce energy costs to customers by decreasing expenses of operating and developing network
About this update from Fluence Energy, Inc.
[{"type":"text","content":"Fluence Ultrastack™ deployed as a transmission asset will reduce energy costs to customers by decreasing expenses of operating and developing network infrastructure through managing renewable curtailment, increasing utilization of existing power lines, and limiting congestions.Network owners and operators will have access to next-generation, patent-pending advanced controls and critical applications with very high (more than 99%) reliability to ensure grid stability during contingency events and increased energy security. ARLINGTON, Va., March 29, 2023 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and cloud-based software for renewables and storage, announced today the release of Fluence Ultrastack™. Ultrastack is an advanced energy storage product designed to transform the way transmission and distribution networks operate around the world by addressing some of the main challenges created by the energy transition, such as weakening system stability, network infrastructure congestion, and low visibility into distributed assets. To support this energy transition, Bloomberg NEF estimates that the annual global investments into power grids will increase from $274 billion in 2022 to nearly $871 billion in the 2040s, reaching $21.4 trillion by 2050. Ultrastack unlocks the power of battery-based energy storage for transmission network owners and operators. The product provides patent-pending controls applications that deliver network utilization and system stabilization services, including synthetic inertia and power oscillation damping. These advanced applications have been developed by leading power system engineers with a deep understanding of transmission system operations. Ultrastack also offers more than 99% system uptime to meet the high asset availability requirements of critical infrastructure. S&P Global forecasts that 17 GW / 50 GWh of energy storage systems will be deployed globally by 2030 to enhance or defer investment into upgrading existing electricity network infrastructure. Continued investment in advanced storage technologies and applications will be vital to achieving this rapid growth. “Electricity system operators are facing significant reliability and congestion challenges as power demand increases, network infrastructure requ...