Fluence files plans for IPO
Arlington-based energy storage company started in 2018
Fluence Energy Inc., an Arlington-based energy storage and digital application company owned by Siemens and AES Corp., announced this week it has filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common stock.
The number of shares and price range for the proposed offering have not yet been determined, according to a news release from the company Tuesday. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc. and BofA Securities will act as lead book-running managers for the proposed offering, the company said, and IPO will be made through a prospectus.
Fluence, which was founded in 2018 as a joint venture of Arlington-based Fortune 500 energy company AES and industrial manufacturer Siemens, announced late last year that the Qatar Investment Authority will invest $125 million in the company, with AES and Siemens retaining approximately 44% shares each of the company. Fluence has more than 3.4 gigawatts of energy storage in 29 markets globally, and more than 4.5 gigawatts of wind, solar and storage assets in Australia and California.