Fluence Energy, Inc. ("Fluence") (NASDAQ: FLNC), a leading global provider of energy storage products and services, and optimization software for renewables and storage, today (Sept 12) announced that the company has received a TM-2 Certificate of Approval (COA) in New York City for its 6th generation energy storage products. With the COA, Fluence is one of the few energy storage providers to fulfill strict safety requirements set by the Fire Department of New York (FDNY). As a key requirement to receive the approval, Fluence had to prove the systems are designed to effectively mitigate and limit thermal runaway events through fire and gas detection, explosion mitigation, battery management systems, and more.
"As one of the few providers approved to deliver energy storage systems in New York City, we are excited to partner with customers and safely provide storage projects that will help speed the state's energy transition," said Fluence President, Americas, John Zahurancik. "Fluence has been at the forefront of incorporating safety features into every level of our energy storage products. These features help prevent and limit the impact of safety incidents."
New York maintains some of the world's strictest rules on fire safety for energy storage systems. The FDNY upholds its own set of requirements for outdoor stationary energy storage systems in addition to industry certification and testing standards, such as UL9540, UL9540A, and NFPA 68.
In 2022, Fluence successfully completed a large-scale fire test for its Gridstack energy storage product that surpassed the industry's UL9540A safety testing requirements. Fluence's large-scale fire test extended beyond the performance standards of UL9540A by initiating an extreme fire event in a Fluence Cube and demonstrating that a thermal runaway event would not propagate to neighboring Cubes. The results show that, in a real-world application, an extreme fire event could be contained to a single Cube, limiting the hazard and enabling the energy storage system to be rapidly restored to operation while the damaged Cube was replaced.
"We complete large-scale fire tests that go beyond the industry's standards to demonstrate the safety of our energy storage products under the most extreme fire events. Our team also offers extensive operator and first responder safety training as part of our commitment to leading the industry in safety and serving as a trusted partner for our customers and local stakeholders," said Zahurancik. "A major benefit for our customers is avoiding costly delays in permitting linked to unanswered safety questions."
Fluence's team has honed the company's safety approach through more than 15 years of experience designing and deploying energy storage systems for customers globally, including the world's first utility-scale storage system deployed in 2008. Within the Americas, the company has more than 3.7 GW of storage deployed or contracted. This fleet of storage projects has delivered over one million operating hours and discharged more than 1,200 GWh of energy with a strong safety record. Globally, Fluence has more than 7 GW of storage deployed or contracted across more than 33 markets.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimization software for renewables and storage. With a presence in over 47 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled SaaS products for managing and optimizing renewables and storage from any provider. The Company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.
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Forward-Looking Statements
The statements described herein 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 safety of our energy storage products and anticipated performance of our energy storage products in the face of thermal runaway events. 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," "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, unexpected actions by individuals in the operation of our energy storage products, aggravation of certain factors in a thermal runaway event that cause unanticipated consequences, 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, 2022, filed with the Securities and Exchange Commission ("SEC") on December 14, 2022, as updated by Part II, Item 1A. in our Quarterly Reports on Form 10-Q, 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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Shayla Ebsen, Director of Communications
Email: media.na@fluenceenergy.com
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Lexington May, Vice President Finance & Investor Relations
Email: investorrelations@fluenceenergy.com
Phone: +1 (713) 909-5629
