- PRESS RELEASE -
ARLINGTON, VA, USA, February 20, 2019—Fluence, a joint venture of Siemens and AES, has been named to Fast Company’s 2019 list of the World’s Most Innovative Companies (MIC). Already an industry leader in the utility-scale storage market, the energy storage firm scored a No. 3 ranking in the MIC list for the Energy Sector.
“Energy storage is critical to transforming how we generate and deliver power, in local and global markets, and Fluence was founded with a commitment to keep pushing that transformation forward,” said CEO Stephen Coughlin. “Collaboration with our customers has always been central to how we innovate to solve the most pressing problems facing our industry. Getting the Fast Company Most Innovative Companies award confirms our strategy of staying 100-percent focused on storage, our customers and the ongoing innovation that is critical to decarbonizing our grid and curbing climate change.”
Now in its 12th year, the Fast Company Most Innovative Companies list recognizes the U.S. businesses driving the innovations with the most impact on their industries and the wider business culture, while thriving in today’s volatile world. This year’s list encompasses 35 industries and markets around the world.
“The 2019 list provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy,” said Fast Company deputy editor David Lidsky. “Established players are showing the same kind of nimbleness that we’ve generally associated with startups,”
Launched in January of 2018, Fluence is unique in its dedicated focus on utility-scale energy storage; in particular, the technology’s potential for replacing natural gas peaker plants, other fossil fuel generation and costly grid infrastructure. In 2018 alone, the company had more than 30 new energy storage systems under construction, continuing its efforts to move the industry forward, and was recognized as a market leader by industry analysts, including Navigant and Bloomberg New Energy Finance.
Recent projects include:
- Ballarat, Australia: Adding flexibility to the regional grid, this 30-megawatt (MW) battery storage project is capable of powering more than 20,000 homes for an hour of critical peak demand and responding to changing grid needs within milliseconds.
- Phoenix, Arizona: Part of a 20-year power purchase agreement between Salt River Project (SRP) and AES, this long-duration 10-MW system is SRP’s first standalone storage project, providing high dependability, reliability and the ability to power about 2,400 homes for up to four hours.
- Delhi, India: This 10-MW project is the first grid-scale battery in India, opening the market and demonstrating the critical role energy storage will play in the country’s ambitious goal of putting 225 gigawatts of renewable energy online by 2022.
“Our next wave of innovation in energy storage stems from our massive dataset,” Coughlin said. “Fluence has a depth of data that we are leveraging to drive down costs, improve efficiency and flexibility of our systems, and increase the value of energy storage on the grid.”
Fast Company’s Most Innovative Companies issue (March-April 2019) is now available online at https://www.fastcompany.com/MIC, in app form via iTunes, and on newsstands beginning Feb. 27. The hashtag is #fcmostinnovative.
Fluence, a Siemens and AES company, is a global energy storage technology solutions and services company that combines the agility of a technology company with the expertise, vision, and financial backing of two industry powerhouses. Established in 2018, as the successor to industry pioneers AES Energy Storage and Siemens energy storage, Fluence’s goal is to create a more sustainable future by transforming the way we power our world. The company offers proven energy storage technology solutions designed to address the diverse needs and challenges of customers in a rapidly transforming energy landscape, providing design, delivery and integration in over 160 countries. Fluence works closely with customers during every step of their journey and provides advisory, financing, and asset lifecycle services. To date, Fluence has deployed or been awarded projects totaling over 760 MW in 17 countries. To learn more, please visit http://fluenceenergy.com/ and follow Fluence on Twitter at @FluenceEnergy.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine Of The Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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