Fluence Buys Advanced Microgrid To Expand Battery Business

(Bloomberg) -- Fluence Energy, a global battery storage company, said it has purchased Advanced Microgrid Solutions, a San Francisco-based provider of software for batteries and renewable-energy systems.

Fluence, which is a joint venture of power-plant developer AES Corp. and German industrial giant Siemens AG, will use Advanced Microgrid’s technology to help customers optimize the use of battery storage and renewable assets in energy markets, the company said in a statement. The terms of the deal were not disclosed.

The acquisition will allow Fluence to expand the market trading platform developed by Advanced Microgrid, Fluence Chief Technology Officer Brett Galura said in an interview.

The deal comes as utilities are increasingly turning to battery storage to help integrate wind and solar farms into their grids amid a push to replace fossil fuel power plants due to environmental concerns. The global energy storage market is forecast to grow 40% this year, according to BloombergNEF.

Advanced Microgrid Solutions was founded by Susan Kennedy, former chief of staff of former California Governor Arnold Schwarzenegger. The company’s market bidding software is used for about 1.7 gigawatts of assets in Australia and California.

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