• Fluence, a Nasdaq-listed company offering long-duration energy storage solutions and AI-enabled energy storage optimization software, reported its Q2 2022 results. The company reported revenue of USD 343 million, up 349.2% YoY. This was driven by increased prices on new contracts and the rollout of the new raw material index (RMI)-based pricing. 

• The adjusted EBITDA loss for the quarter amounted to USD 53 million, an increase of 247.6% YoY. This was due to increases in R&D costs (+159.4% YoY), sales and marketing expenses (+119.5% YoY), and general and administrative expenses (+304.9% YoY).

• Fluence’s revenue is on track with the full-year 2022 guidance of USD 1.1 billion–1.3 billion.

Key operational highlights since the last quarter:

<ul><li>Fluence acquired Nispera, a Swiss AI-based data analytics provider of renewable energy assets, to expand its digital management systems. The acquisition scaled up Fluence’s digital portfolio to 15 gigawatts of energy.</ul> 

<ul><li>The company partnered with Google to deploy a carbon-free energy backup system at its data center in Saint-Ghislain, Belgium.</ul> 

<ul><li>Fluence collaborated with cQuantio, a provider of energy analytics, to provide digital applications for energy storage and power generation.</ul>