In increasingly sophisticated energy markets, granular forecasting of asset availability, production profile and management becomes imperative for value capture
Reinforces Fluence’s digital leadership position with a combined 15 GW digital portfolio under contract or under management
Accelerates the development and deployment of new applications on the Fluence IQ digital platform
Strengthens recurring revenue fundamentals and should be EBITDA accretive by 2024
ARLINGTON, Va., April 11, 2022 (GLOBE NEWSWIRE) — Fluence (NASDAQ:FLNC), a leading global provider of digital energy storage products, services and applications for renewable energy and storage, announced today have entered into an agreement to acquire Nispera AG (Nispera).
Nispera is a Zurich-based provider of machine learning-based artificial intelligence (AI) and software as a service (SaaS) targeting the renewable energy sector. Nispera’s advanced technology helps customers monitor, analyze, predict and optimize the performance and value of renewable energy assets. Its flagship offering is an AI-powered utility-scale asset performance management platform that currently has 8GW of assets under management across 450 wind and solar projects globally.
In combination with Fluence IQ’s digital app offerings, Nispera’s suite of five apps will enable the combined company to offer its customers a user-centric “business app”. In addition to its core SaaS product, Nispera’s technology portfolio includes a predictive maintenance application, an operations and maintenance application, and a portfolio management application. The company also offers a fifth application that provides enhanced power generation forecasting services for energy assets, particularly attractive to energy traders, large asset managers, grid operators and financial institutions.
“I am very pleased to welcome Nispera, a customer-centric organization that, at its core, is aligned with our values and our mission to transform the way we power the world,” said Manuel Perez Dubuc, President and CEO. General of Fluence. “With this acquisition, we are ready to expand our portfolio of digital products and services for customers around the world. Additionally, it represents a powerful cross-selling opportunity to bring energy storage products to owners of existing renewable energy assets and portfolios. As a result, we expect this transaction to improve Fluence’s recurring revenue capture, adding visibility to future cash flows in the years to come.
“Nispera is accelerating our plan to expand our existing digital capabilities,” said Seyed Madaeni, Chief Digital Officer of Fluence. “As we build a comprehensive suite of digital products for customers to better understand, control, dispatch, optimize and maintain their renewable energy and storage assets, Nispera’s use of machine learning and IA will be highly complementary to the advanced applications already developed at Fluence. Nispera’s advanced technology will also support the broader Fluence ecosystem of digital energy storage products, services and applications.
Today, Nispera’s artificial intelligence and machine learning software collects and analyzes data from wind, solar, and hydro assets and other external sources in more than 25 countries. It uses data to monitor actual and forecast energy production, identify areas of underperformance, detect anomalies with AI-based predictive analytics, and automate customer reporting, improving asset and service availability. portfolio and increasing revenue capture. Nispera customers will continue to receive the same top-notch service without interruption as it becomes part of the Fluence ecosystem. Customers will also benefit from future technology investments as part of Fluence’s digital strategy.
Terms of trade
Closing of the transaction is expected during Fluence’s third fiscal quarter, subject to customary closing conditions. Following the closing of the transaction, Nispera will maintain its management team operating under the Fluence brand from its headquarters in Zurich, Switzerland.
The transaction includes an all-cash buyout feature of approximately $30 million for existing private investors in Nispera. In addition to the cash payment, Fluence will also issue restricted stock to Nispera’s management team which will vest over three years for retention purposes.
Fluence (Nasdaq: FLNC) is a global market leader in energy storage products and services and digital applications for renewable energy and storage. With a presence in 30 global markets, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular and scalable energy storage products, comprehensive service offerings and the Fluence IQ platform, which provides AI-based digital applications for managing and optimizing renewable energy and storage from any supplier. The company is transforming the way we power our world by helping customers create more resilient and sustainable power grids. For more information, please visit fluenceenergie.com.
Statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act. of 1995. These forward-looking statements include, but are not limited to, statements regarding future financial performance, anticipated synergies and other benefits to Fluence and Nispera from the acquisition of Nispera, Fluence’s business strategies, plans expansion, future operating results, future revenues, cash flow, and outlook, and management plans and objectives. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this presentation, words such as “may”, “possible”, “will”, “should”, “expect”, “plan”, “anticipate”, “could”, “has intends”, “targets”, “plans”, “intends”, “believes”, “estimates”, “predicts”, “potential” or “continues” or the negative form of these terms or other similar expressions . and their variations and similar words and phrases are intended to identify such forward-looking statements, but the absence of such words does not mean that a statement is not forward-looking.
The forward-looking statements in this press release are based on our current expectations and beliefs regarding future developments, as well as a number of assumptions regarding future events and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we anticipate. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the timing and ability to complete the closing of the transaction announced in this press release, our ability to realize the expected benefits and synergies of this acquisition, the future financial and operational performance of Nispera , our ability to cross-sell energy storage products and develop new product and service offerings, and other factors set forth in Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021, filed with the Securities and Exchange Commission (“SEC”) on December 14, 2021 and in other filings with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all of these risk factors, nor to assess the effect of all of these risk factors on our business or the extent to which any one factor or combination of factors could cause actual results to differ materially from those contained in the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may differ materially from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances which occur, or become known to us, after the date hereof. , unless otherwise required by law.