Business
Fluence to Design and Manufacture Battery Packs as Part of Storage Products
Fluence-made battery packs, to be developed in the U.S., will allow greater global supply chain flexibility to best serve customers with rapid energy storage
About this update from Fluence Energy, Inc.
[{"type":"text","content":"Fluence-made battery packs, to be developed in the U.S., will allow greater global supply chain flexibility to best serve customers with rapid energy storage deployment\nARLINGTON, Va., Dec. 13, 2022 (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, today announced a strategic plan to develop Fluence-made battery packs, with production set to begin in early 2024 in the United States. The move is intended to give Fluence greater control over the global supply chain and increase standardization across products. Moreover, we believe that this plan to develop and introduce Fluence-made battery packs will assist Fluence customers in accessing incentives under the Inflation Reduction Act of 2022. The Fluence-designed pack will include battery modules and a battery management system (BMS) with cells procured competitively from our growing base of global suppliers. “This strategic move to develop the Fluence battery pack is possible because of the deep technical expertise within our research and development team,” said Fluence SVP and Chief Product Officer Rebecca Boll. “This program is the next pivotal step for Fluence’s supply chain flexibility. The Fluence-developed BMS allows for the rapid acceleration of our cloud-based software products and aftermarket services growth, all while providing increased standardization across our storage products.” Fluence is working closely with suppliers to secure a globally-diversified battery cell supply and will procure cells competitively for our battery packs. Fluence will also incorporate its own BMS technology into the packs to enhance access to granular data and system control, while expanding battery intelligence capabilities. These new battery subsystems are the latest advancement in the multi-generational technology platform underpinning all our storage products. “The development of a Fluence-built battery pack fits perfectly into our broader manufacturing and regional production strategy. Our main goals of this program are to provide increased flexibility for our customers, decrease supply chain disruptions, and ensure greater cost stability in a volatile market,” said Fluence SVP and Chief Supply Chain and Manufacturing Officer Carol Couch. “This initiat...