Cordelio Power and Fluence Partner to Deploy 1 GWh of Domestically Manufactured Battery Storage Systems Starting in 2026

ARLINGTON, Va., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Cordelio Power, an independent power producer that develops, owns, and manages power facilities across the United States and Canada and Fluence Energy, Inc. ("Fluence") (NASDAQ:FLNC), a leading global provider of intelligent energy storage solutions, services, and optimization software for power assets, today announced an agreement under which Fluence will supply 1 GWh of battery storage systems across three projects starting in 2026. These U.S. projects will utilize domestically manufactured batteries, modules, software, and supporting systems. The collaboration between Fluence and Cordelio Power will help advance U.S.-manufactured energy storage technology and energy security. The projects are expected to contribute significantly to the local economies, creating jobs and fostering economic growth while reducing the cost of electricity and helping ensure a reliable power system.

"Partnering with Cordelio Power on these projects marks another step forward in strengthening America's energy resilience," said John Zahurancik, Fluence President, Americas. "Grid-connected energy storage was created in the U.S. to increase reliability and lower the cost of all forms of power. By expanding the use of U.S.-manufactured content in these systems, we are supporting a stronger supply chain necessary to move toward even greater energy independence."

Cordelio Power will expand its growing portfolio through this collaboration. The three projects will play a crucial role in enhancing grid stability and providing reliable power capacity.

"We are pleased to welcome Fluence as a major battery energy storage equipment provider for Cordelio Power," said Emma Burke, Cordelio's Director of Procurement. "This collaboration provides strong support for the projects we expect to build over the next three years."

Fluence, a major player in the energy storage industry, is building a resilient and diverse supply chain to help meet the rising demand for large-scale, high-performance battery storage systems. These projects will continue to drive a reduction in the cost of energy and support an all-of-the-above approach to power generation. Fluence continues to increase the use of domestic facilities in Utah, Arizona, and South Carolina that supply key battery storage system components. Expanding U.S. production of energy storage reduces risk in a market that has faced major supply chain disruptions due to factors such as extreme weather events, trade barriers, and shifting geopolitical landscapes. As energy storage becomes increasingly vital for maintaining a stable power grid, the need for reliable, high-quality, and low-risk systems has never been greater to support leading developers and utilities.

About Fluence

Fluence Energy, Inc. (NASDAQ:FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. The Company's solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed, and under management across nearly 50 markets, the Company is transforming the way we power our world for a more sustainable future.

For more information, visit our website, or follow us on LinkedIn or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog.

About Cordelio Power

Cordelio Power is an independent renewable power producer that develops, owns, and manages renewable power facilities across the United States and Canada. Cordelio strives to work with all of our stakeholders in an efficient, safe, and environmentally responsible manner. With over 1,400 MW of operating assets under management, Cordelio also oversees a growth pipeline of over 22,000 MW of wind, energy storage and solar projects. Cordelio is wholly owned by CPP Investments.

Forward-Looking Statements

The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the anticipated operational performance of the three projects and potential impact to local communities and economies, expected timing of the three projects, and future performance of Fluence's supply chain and related strategy. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as "may," "possible," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "commits," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, effect of tariffs and uncertainty around U.S. and foreign trade policy on the Company, new policies, regulations, and other executive actions from the current U.S. political administration, general economic conditions, unforeseen circumstances outside of Fluence's control which may cause the projects or the supply chain to not perform as anticipated, and other factors set forth under Item 1A."Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024, filed with the Securities and Exchange Commission ("SEC") on November 29, 2024, and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

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