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Fluence, a Siemens and AES company, has announced that it has entered into a definitive agreement with the Qatar Investment Authority (QIA) pursuant to which QIA will commit to invest US$ 125 million in Fluence through a private placement transaction.
Fluence is a global energy storage solutions provider and the company intends to use the net proceeds from the private placement to further accelerate development of its product offerings, particularly digital products, and deployment of existing products in more markets globally. AES and Siemens will remain major shareholders, each maintaining an approximately 44 percent stake following the completion of the transaction.
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