ARLINGTON, Va., April 11, 2022 (GLOBE NEWSWIRE) — Fluence (NASDAQ: FLNC), a leading global provider of energy storage products, services and digital applications for renewables and storage, announced today that it has entered into an agreement to acquire Nispera AG.
Nispera is a Zurich-based provider of artificial intelligence (AI) and machine learning-enabled software-as-a-service (SaaS) targeting the renewable energy sector. Nispera’s advanced technology helps customers monitor, analyze, forecast, and optimize the performance and value of renewable energy assets. Its flagship offering is an AI-driven utility-scale asset performance management platform that currently has 8 GW of assets under management across 450 wind and solar projects on a global basis.
In combination with Fluence IQ’s digital application offerings, Nispera’s suite of five applications will enable the combined firm to offer its customers a user-centric “manage app”. In addition to its core SaaS product, Nispera’s technology portfolio includes a predictive maintenance app, an operations and maintenance app, and a portfolio management app. The company also offers a fifth application that provides enhanced power generation forecasting services for energy assets that is particularly attractive to energy traders, large asset managers, grid operators, and financial institutions.
“I am very excited to welcome Nispera, a customer-centric organization that at its core is aligned with our values and mission to transform the way we power the world,” said Manuel Perez Dubuc, Fluence President and Chief Executive Officer. “With this acquisition, we are primed to expand our portfolio of digital products and services for customers around the world. Furthermore, it represents a powerful cross-selling opportunity to offer energy storage products to owners of existing renewable energy assets and portfolios. As a result, we expect this transaction will enhance Fluence’s recurring revenue capture, adding visibility to future cash flow in the years to come.”
“Nispera accelerates our plan to grow our existing digital capabilities,” said Fluence Chief Digital Officer Seyed Madaeni. “As we build a comprehensive digital product suite for customers to better understand, control, dispatch, optimize, and maintain their renewable energy and storage assets, Nispera’s use of machine learning and AI will be highly complementary to the advanced applications already being developed at Fluence. Nispera’s cutting edge technology will also support the broader Fluence ecosystem of energy storage products, services, and digital applications.”
Today, Nispera’s AI and machine learning-enabled software collects and analyzes data from wind, solar, and hydro assets and other external sources in more than 25 countries. It uses the data to monitor actual and expected energy production, identify areas of underperformance, detect anomalies with AI-based predictive analytics, and automate reporting to customers, improving asset and portfolio uptime and increasing revenue capture. Nispera’s customers will continue to receive the same best-in-class 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.
Transaction Terms
Closing of the transaction is expected in Fluence’s fiscal third quarter, subject to customary closing conditions. Following the closing of the transaction, Nispera will maintain its leadership team operating under the Fluence brand name from its headquarters in Zurich, Switzerland.
The transaction includes an all-cash buyout provision 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 that vests over three years for retention purposes.
About Fluence
Fluence (Nasdaq: FLNC) is a global market leader in energy storage products and services, and digital applications for renewables and storage. With a presence in 30 global markets, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled digital applications for managing and optimizing renewables and storage from any provider. The company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids. For more information, please visit fluenceenergy.com.
