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Fluence Announces Acquisition of Advanced Microgrid Solutions

Fluence Announces Acquisition of Advanced Microgrid Solutions
Fluence Announces Acquisition of Advanced Microgrid Solutions

Fluence, an energy storage technology solution company announced the acquisition of Advanced Microgrid Solutions (AMS) as a part of imitative aiming to help its utility, developer and industrial and commercial consumers optimize their renewable assets and energy storage.

The software and technology platform of AMS utilizes portfolio optimization, advanced price forecasting, artificial intelligence, and market bidding to make sure that energy storage systems along with other flexible generation assets are responding favorably to power market price signals.

Brett Galura, chief technology officer at Fluence claimed that storage is the first real digital asset that one can put on the electric network. It means the smarter the company becomes with digital, the better job they can do in powering the electric network.

AMS is currently active in Australia’s National Electricity Market and California Independent System Operator market, helping the acquisition expand its reach.

AMS’s CEO and Fluence’s chief digital officer, Seyed Madaeni, stated that with the rapidly growing market, the importance of scale increases for the company. Fluence is a Siemens and AES company and AMS being the new Fluence Digital business unit, can leverage its global sales reach and make its software available across the globe.

AMS’s philosophy that resonates with Fluence is technology agnosticism. Na matter who the manufacturer is, the company does its best to monetize the asset, added Madaeni.

Galura stated that both the companies will collaborate to deliver data-driven insights to customers that maximize the performance and value of generation and storage assets to help in making the whole grid smarter. While Fluence’s technology can be utilized to decrease the balance of system costs and AMS’s AI-enabled software can support in maximizing the return on investment of energy storage

Madaeni further stated that storage and flexible generation assets are key elements of a sustainable, modern grid. The more the company can benefit from the assets, the faster it can transform. The smartness of the asset and grid go hand in hand.

Source: https://pv-magazine-usa.com/2020/10/15/fluence-acquires-advanced-microgrid-solutions-in-bid-to-help-customers-monetize-storage-renewable-assets/

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Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.