ERLANGEN, Germany & ZURICH, Switzerland – February 2, 2022 – 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, alongside 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. Given the current market trends, participants can take advantage of increased revenue potential, assuming they have access to the most advanced technological solutions and accurate market intelligence.
“And, 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 energy storage solutions deployed or contracted to deliver real world operational insights. Fluence’s IQ Platform, 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.