Fluence and cQuant.io Partner to Offer Industry-leading Suite of Analytics and Optimization Applications for Energy Storage and Power Generation Portfolios
AI-enabled capabilities will deliver insights for developers, asset managers, traders, and financiers
ARLINGTON, Va., April 21, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (NASDAQ: FLNC) (“Fluence”), a global market leader in energy storage products and services, and digital applications for renewables and storage announced today that they have entered into a strategic partnership with cQuant.io (“cQuant”), an industry leader in energy analytics. The two companies will offer a comprehensive suite of digital applications via the Fluence IQ Digital Platform aimed at optimizing both the development and management of power generation and energy storage projects and portfolios.
The growth of renewables and energy storage, as well as the influx of capital into the clean energy sector, has heightened the need for streamlined planning, investment, and asset management. Developers, independent power producers, utilities, retailers, and trading houses face increasingly complex, data-driven decisions requiring coordination across functional teams in seconds. In particular, the breadth of parameters affecting energy storage challenges conventional forms of analysis.
Through this partnership, Fluence and cQuant will jointly market and deliver their analytical and market operations solutions and will integrate their solutions to streamline the customer experience. Customers will benefit from cutting-edge analytics, simulation, and optimization tools throughout the life cycle of their energy projects, across multiple applications, from valuation to bidding and risk management.
“Partnering with cQuant enables Fluence to extend the range of services we offer our customers and supports our broader Fluence IQ Platform expansion strategy,” said Seyed Madaeni, Fluence SVP and Chief Digital Officer. “cQuant shares our passion for accelerating the clean energy transition, our software-as-a-service (SaaS) business model, and our dedication to employing the most advanced artificial intelligence and machine learning techniques to optimize decision-making.”
Both Fluence and cQuant’s digital applications provide powerful insights and drive investment and trading action for owners of large, diverse energy portfolios at different points in the energy value chain. Fluence and cQuant’s newly combined offerings will enable energy, commodity and financial services companies to address increasing complexity in today’s technology, capital, and energy markets when making investment and operational decisions.
“Arming clients with highly scalable simulation capabilities empowers our clients with the accurate and high-performance analytics required to be meet the new market challenges, from real-time battery bidding intelligence to long term asset valuation,” said David Leevan, cQuant CEO. “With this partnership, customers will be able to model and optimize their entire portfolios from traditional power generation to the most innovative renewable and storage solutions coming to market.”
Fluence (Nasdaq: FLNC) is a global market leader in energy storage products and services, and digital applications for renewables and storage. With a presence in 30 global markets, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled digital applications for managing and optimizing 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. For more information, visit our website, or follow us on LinkedIn or Twitter.
This press release contains “forward-looking statements” within the meaning of Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended, 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, statements regarding the development, timeline and anticipated performance of the partnership between cQuant and Fluence, including the marketing and delivery of analytical and market operations solutions and integration of the offerings, as well as the expected synergies and benefits from the partnership.
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 significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside cQuant’s and 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: each company may face significant barriers and delays as well as unexpected costs in their respective attempts to integrate their solutions and offerings as intended under the announced partnership. Fluence cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect Fluence is set forth under the “Risk Factors” section in its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, and available on the SEC’s website at www.sec.gov.
Except as otherwise required by applicable law, Fluence disclaims 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.
cQuant.io is an industry leader in analytic solutions for energy and commodity companies. Specializing in Total Portfolio Analysis, cQuant’s cloud-native platform enables physical asset, financial contract, market simulation and risk management analytics in one place. cQuant is the leader in analytics for renewable, storage and other clean energy technologies. cQuant’s customers have greater insight into their financial forecasts and the drivers of value and risk in their business. For more information or to schedule a demo, visit https://cquant.io/.
Steven Goldman, Fluence
Sr. Marketing Manager, Americas
Noelle Demo, cQuant
Director of Marketing