TIME Hails Fluence Mosaic as a 2022 Best Invention
Through state-of-the-art machine learning, the cloud-based software allows renewable and energy storage asset owners to navigate increasingly complex electricity markets so assets can react efficiently to grid needs
ARLINGTON, Va., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, today announced that Fluence Mosaic™, an intelligent bidding software for grid-scale energy storage and renewable assets, has been recognized by TIME as one of the Best Inventions of 2022 that are making the world better and smarter. Through state-of-the-art machine learning, Mosaic allows asset owners to navigate increasingly complex electricity markets so battery storage and renewables assets can react quickly and efficiently to grid needs.
“We are thrilled with the news that Mosaic has been named a TIME 2022 Best Invention,” said Fluence SVP & Chief Digital Officer Krishna Vanka. “We believe Mosaic ultimately unlocks the full potential of renewable and energy storage assets, driving value for owners, making electricity more affordable for consumers, improving reliability and flexibility for grid operators, and lowering carbon emissions. This award reflects the hard work and innovation that the entire Mosaic team has built into the product over the past few years.”
Currently available in the California ISO market (CAISO) and Australia’s National Electricity Market (NEM), with new markets coming soon, Mosaic incorporates complex market rules and real-time data to maximize participation in wholesale electricity markets and capitalize on the full value available to assets. The software supports energy storage and renewable products from any technology provider and is currently optimizing more than 5 GW of clean energy assets globally, with a total of over 8 GW deployed or awarded. Most recently, Fluence announced that the 127 MW / 508 MWh Lancaster Area Battery (LAB) energy storage system owned by The AES Corporation will employ Mosaic for intelligent bidding in CAISO. Mosaic’s cloud-based software will integrate directly with Gridstack™, Fluence’s grid-scale, industrial strength energy storage product to process operating constraints and parameters in real-time, and employ advanced machine learning to generate bids that maximize LAB’s market earnings.
“Since optimizing our first asset, our vision has been to improve the attractiveness of renewables and storage investments,” said Stephanie Egger, Senior Director of Product for Fluence. “We are incredibly proud of the team’s realization of and continued commitment to this vision.”
Fluence currently offers two SaaS products as part of the Fluence IQ™ Digital Platform: Mosaic and Fluence Nispera™, with a combined portfolio of more than 16 GW of assets contracted or under management globally.
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and cloud-based software for renewables and storage. With a presence in over 40 markets globally, 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 SaaS products 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.
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the operational performance and anticipated benefits of Fluence Mosaic™ and the expanded use of Fluence Mosaic™ in new markets. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
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 a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, failure to achieve the anticipated benefits and intended use of Fluence Mosaic™, and other factors set forth under Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021, filed with the Securities and Exchange Commission (“SEC”) on December 14, 2021 and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
Shayla Ebsen, Director of Communications
Phone: +1 (605) 645-7486
Lexington May, Vice President of Investor Relations
Phone: +1 (713) 909-5629
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/664ccd3e-a8da-4a4e-a2e3-e3575a80cc9b