Fluence Energy, Inc. (FLNC) is a global energy storage technology and services company.
It is a joint venture between Siemens AG and The AES Corporation.
Siemens AG, a German multinational conglomerate, owns a 50% stake in Fluence, while The AES Corporation, a global power company, owns the remaining 50%.
Their mission is to create a more sustainable future by transforming the way we power our world, with a focus on advancing clean energy through energy storage and renewables
Fluence Energy, a global leader in advanced energy storage solutions, faces competition from several key players in the energy storage market.
Here are some of its closest competitors:
Sunrun (RUN): Sunrun is a residential solar and energy storage company. While Fluence focuses on large-scale projects, Sunrun specializes in residential solar and battery systems.
Powell Industries (POWL): Powell Industries provides electrical equipment and services, including energy storage solutions. They compete with Fluence in the industrial and commercial sectors.
Shoals Technologies Group (SHLS): Shoals Technologies manufactures electrical balance-of-system components for solar and storage installations. They are a direct competitor in the energy storage market.
JinkoSolar (JKS): JinkoSolar is a leading solar panel manufacturer. Although they primarily focus on solar panels, their involvement in energy storage solutions puts them in competition with Fluence.
Enovix (ENVX): Enovix develops advanced lithium-ion battery technology. Their innovations in battery design and performance make them a formidable competitor.
SolarEdge Technologies (SEDG): SolarEdge provides solar inverters and energy management solutions. Their integrated systems compete with Fluence’s offerings.
Black Stone Minerals (BSM): Black Stone Minerals is involved in oil, gas, and mineral rights. While not a direct competitor, their investments in renewable energy may intersect with Fluence’s projects.
Archrock (AROC): Archrock focuses on natural gas compression services. Although not a direct competitor, their involvement in energy infrastructure overlaps with Fluence’s domain.
Arch Resources (ARCH): Arch Resources is a coal mining company. While not directly competing, their transition to cleaner energy sources may impact the overall energy storage market.
Fluence Energy excels with its Advancion battery technology,
offering higher efficiency, minimal degradation, and increased energy density compared to competitors.
These competitors do drive innovation and contribute to the dynamic energy storage landscape
Most recent quarter results are very promising for Fluence:
The Company generated approximately $64.2 million of Gross Profit
and approximately $65.9 million of Adjusted Gross Profit4 in the
current quarter, representing 108% and 105% year-over-year
increase, respectively. Furthermore, this quarter was the third
consecutive quarter that the Company generated double-digit gross
profit and adjusted gross profit margins.
-- For the first half of fiscal year 2024, we achieved record net
cash provided by operating activities of approximately $90.2
million, compared to approximately negative $163.4 million in the
same period last year, and record free cash flow4 of approximately
$87.8 million compared to approximately negative $164.5 million in
the same period last year.
-- Total Cash5 as of March 31, 2024 of $541.5 million increased by
approximately $65 million from December 31, 2023, making this the
fourth consecutive quarter in which Total Cash has increased.
