- PRESS RELEASE -
Manuel Perez Dubuc Appointed Fluence CEO to Lead Next Phase of Growth for Energy Storage Market Leader
Stephen Coughlin will transition to Fluence Board of Directors
ARLINGTON, VA (April 23, 2020): In a strategic move intended to further accelerate energy storage adoption around the world, Fluence, a joint venture of Siemens and AES, today announced the selection of Manuel Perez Dubuc to succeed Stephen Coughlin as the company’s Chief Executive Officer effective May 1, 2020. Coughlin, who led Fluence as CEO since its inception in 2018, is joining the Fluence Board of Directors.
“Manuel is the right CEO for the next era at Fluence, selected to execute on the expansion and maturation of the company,” said Coughlin. “He is a brilliant leader with deep experience running high-growth businesses and developing strong partnerships in the energy industry in nearly every global region. He is also a progressive and pioneering executive with a track record of designing and executing ambitious plans to drive the global transition to clean, sustainable, and flexible energy infrastructure.”
Mr. Dubuc served on the Fluence Board of Directors since 2018 and was selected by the Board to lead the company’s next phase of growth. Fluence continues to invest in its technology platform and digital intelligence capabilities designed to meet the expanding energy storage needs of customers, with a goal of building another 3 gigawatts (GW) of projects around the world over the next two years. His close working relationship with Mr. Coughlin and with board members from both AES and Siemens ensures a smooth transition that builds on the market leadership position held by Fluence.
Coughlin became CEO of Fluence in January 2018 after serving as one of the lead architects of the joint venture that became Fluence. Under his leadership, Fluence grew from an initial 485 MW of projects to the current 1.7 GW awarded or delivered in 21 countries, including several of the largest energy storage projects in the world. The company is currently building projects worth nearly $1 billion. During Coughlin’s tenure, Fluence established itself as the market leader and garnered numerous industry accolades, including the top ranking in the industry from Navigant Research (now Guidehouse Insights) and being named one of Fast Company’s Most Innovative Companies in 2019.
“This is a pivotal time for Fluence, our customers and the future of our industry,” said Dubuc. “The stakes are incredibly high to transform the way we power our world, adding more renewables together with energy storage to provide clean generation, flexibility and resilience to power networks everywhere. Steve brought together a world class team and best in class technology to help our customers navigate their energy future. I am looking forward to working with our people and customers to create the solutions required to ensure a sustainable energy future. Fluence has a significant opportunity ahead to create a new generation of clean, flexible power networks with energy storage at the center.”
Dubuc was most recently on the Board of Directors of both AES Distributed Energy and sPower, and previously served as the President of two major AES business units in Latin America. He also garnered extensive experience in Asia where he served as the CEO of Meiya Power Company (MPC) in Hong Kong, which was backed by international financial investors and became the largest independent power producer in China and South Korea.
“Fluence has a robust long-term strategic plan in place and the transition to this next phase has been in development for the past several months as we’ve been looking to expand on the phenomenal success achieved since we launched the company,” says Jean-Christoph Heyne, Fluence Board Member and Global Head of Future Grid at Siemens. “As Steve and Manuel work together over the next month to ensure a smooth transition, all of us on the Board are confident that Manuel’s experience and leadership will ensure continued robust growth and expansion of Fluence around the world.”
Fluence, a Siemens and AES company, is the global market leader in energy storage technology solutions and services, combining the agility of a technology company with the expertise, vision, and financial backing of two well-established and respected industry giants. Building on the pioneering work of AES Energy Storage and Siemens energy storage, the company’s goal is to create a more sustainable future by transforming the way we power our world. Providing design, delivery and integration, Fluence offers proven energy storage technology solutions that address the diverse needs and challenges of customers in a rapidly transforming energy landscape. The company currently has more than 1.7 GW of projects in operation or awarded across 21 countries and territories worldwide. Fluence topped the Navigant Research (now Guidehouse Insights) utility-scale energy storage leaderboard in 2018 and was named one of Fast Company’s Most Innovative Companies in 2019.
To learn more about Fluence, please visit fluenceenergy.com.
Media ContactKristin O’Connell, Archetype for Fluence
M: +1 914-374-2147