Innovative energy sales service and risk management at the heart of the partnership – Pexapark’s tools will be made available through Fluence IQ digital ecosystem
ERLANGEN, Germany & ZURICH–(BUSINESS WIRE)–Fluence (NASDAQ: FLNC), a global market leader in energy storage products and services and digital applications for renewables and storage, and Pexapark, an award-winning provider of software and advisory services for renewable energy sales and risk management, announced today they have entered into a long-term strategic partnership. The collaboration will provide customers with a powerful combination of insights required to navigate and lead through the clean energy transition.
Significant growth in energy storage and renewables, coupled with increased market volatility and regulatory changes, are making data-driven market intelligence a must-have for any market participant in the electricity sector. Fluence and Pexapark have partnered to bring together unique insights that will help investors, independent power producers (IPPs) and utilities make better decisions as they navigate merchant market risks and maximize revenues while working to advance the clean energy transition.
Under the strategic partnership, Fluence’s customers will gain access to Pexapark’s suite of analytical tools and services that simplify the complexity of energy transactions, delivering greater price transparency and risk management, while supporting industry players in their journey through project planning to long-term operations.
Combined with the advanced analytics for renewable energy generation and energy storage assets already delivered by Fluence, these sophisticated tools will enable customers to maximize the value of their investment and increase deployments.
Asset developers and owners will particularly benefit from pricing and analytics for storage and co-located facilities, advice on the best Power Purchase Agreement (PPA) structuring for specific types of generation and energy storage assets, and expert advisory on trading and hedging strategies.
“Today’s announcement is another major milestone for realizing Fluence’s ambition to develop a unique ecosystem that changes the way our customers power the world,” said Manuel Perez Dubuc, CEO of Fluence. “We are growing this ecosystem, including third-party technology solutions, with our products, services and digital applications for renewables and storage.”
“Our partnership with Pexapark will encourage greater investment in and deployment of clean energy generation and battery-based energy storage projects on the grid. Together, we will use our digital solutions to advance the global clean energy transition.”
Michael Waldner, CEO and Co-Founder, Pexapark said: “As the renewable energy sector continues to evolve – increasingly at the mercy of the merchant markets and price volatility – it is critical that industry players are armed with the data, knowledge and software to maximize their returns and manage their risks. In light of current market pricing trends, those who couple the most advanced technological solutions with the most accurate market intelligence will have the edge when it comes to increasing their revenue potential.”
“As energy storage increasingly becomes an integral part of renewables portfolios, this partnership promises to provide an immediate boost to managing the complex opportunities and risks involved.”
Advanced energy storage solutions are the critical enabling technology to achieve clean energy targets. Pexapark’s unique market knowledge and data will be paired with Fluence’s fleet of 3.6 GW of battery-based storage solutions deployed or contracted to deliver real world operational insights. The Fluence IQ Bidding Application, which uses artificial intelligence, advanced price forecasting, portfolio optimization and market bidding, will ensure energy storage and flexible generation assets are optimally participating in wholesale electricity markets.
This partnership with Pexapark is aligned with Fluence’s strategy of maintaining an open digital ecosystem that gives customers the flexibility to integrate third-party software and tools with Fluence storage and control systems. Fostering an open, horizontally integrated ecosystem that makes Fluence’s – and others’ – innovative technologies as broadly available as possible is one of the company’s goals in pursuit of its mission to enable the global clean energy transition.
Fluence is a global market leader in energy storage products and services, and digital applications for renewables and storage. As of September 30, 2021, the company has more than 3.6 GW of energy storage deployed or contracted in 30 markets globally, and more than 4.7 GW of wind, solar, and storage assets optimized or contracted in Australia and California. Through our products, services and AI-enabled Fluence IQ platform, Fluence is helping customers around the world drive more resilient electric grids and a more sustainable future. For more information, please visit www.fluenceenergy.com.
Pexapark is an award-winning enterprise software and advisory company, specialised in renewable energy. With more than 20,000 MW of renewable PPA transactions supported, Pexapark is the reference for buying, selling and managing renewable energy.
Pexapark’s PPA reference prices increase transparency across 18 markets. Our advisory team and software suite enable leading companies to close successful PPA transactions, manage their risk and grow their renewable energy revenues.
Pexapark was founded in 2017 with the purpose of accelerating the energy transition towards net zero by creating an efficient market for renewable energy.
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements, including, without limitation, expected benefits of the partnership with Pexapark, commencement of its services agreement, and the development or/and integration of Pexapark’s services and technology for use by Fluence’s customers.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Fluence’s control and are difficult to predict. Factors that may cause such differences in expected results include but are not limited to the following: Fluence may face significant barriers and delays in the integration of Pexapark’s services and technologies. Fluence caution that the foregoing list of factors is not exclusive.
Except as otherwise required by applicable law, Fluence disclaim any duty to update any forward-looking statements contained in this press release, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could differentiate materially from those expressed in any forward-looking statements.
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