The Qatar Investment Authority (QIA) has agreed to invest $125 million in global energy storage solutions provider Fluence through a private placement transaction.
Fluence intends to use the net proceeds of the deal to further develop its product offerings, particularly digital products, and deploy existing products in more markets across the world.
“We believe the global problem of climate change can only be tackled by leveraging the combined capabilities of technologists and investors from around the world,” said Manuel Perez Dubuc, CEO of Fluence. “We see energy storage as the linchpin of a decarbonized grid and adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage.”
Fluence is helping accelerate the adoption of renewables and is allowing utilities and power producers to incorporate renewables at scale, according to the company. It
