The AES Corp., based in Arlington, has joined forces with Munich-based Siemens AG to form a global energy storage technology and services company.
The joint venture company, which will operate under the name of Fluence, will draw on AES’ 10 years of experience in deploying energy storage in seven countries and Siemens’ energy technology leadership and sales presence in more than 160 countries.
The companies said in a news release that Fluence will help customers navigate the fragmented but rapidly growing energy storage sector.
Siemens and AES will have joint control of the company, with each holding a 50 percent stake. Fluence’s headquarters will be located in the Washington, D.C., area with additional offices in Erlangen, Germany, and other cities worldwide. The transaction is expected to close in the fourth quarter.
