Fluence adding AI-driven software to Energy Storage & Renewable applications with $30M Nispera deal

April 11, 2022
Nispera's software products are intended to help customers monitor, analyze and forecast performance levels of renewable energy assets. The Swiss company’s utility-scale AI platform has about 8 GW of wind and solar under management

Energy Storage joint venture Fluence is tacking on artificial intelligence and machine learning capabilities with its latest acquisition.

Fluence is buying software-as-a-service provider Nispera in a $30 million all-cash transaction. Fluence itself was formed initially as a joint venture with Siemens and AES and now is a publicly traded company.

Nispera is a Zurich-based AI and machine learning technology firm targeting the renewable energy sector. Its software products are intended to help customers monitor, analyze and forecast performance levels of renewable energy assets.

The Swiss company’s utility-scale AI platform has about 8 GW of wind and solar under management.

“Nispera accelerates our plan to grow our existing digital capabilities,” said Fluence Chief Digital Officer Seyed Madaeni. “As we build a comprehensive digital product suite for customers to better understand, control, dispatch, optimize, and maintain their renewable energy and storage assets, Nispera’s use of machine learning and AI will be highly complementary to the advanced applications already being developed at Fluence. Nispera’s cutting edge technology will also support the broader Fluence ecosystem of energy storage products, services, and digital applications.”

Related stories

Siemens, AES file to take Fluence joint venture public

Madeira Utility contracting for Battery Storage plant

Subscribe to EnergyTech's free, tri-weekly newsletter for more Insights into the Mission Critical Energy Transition

In acquiring and combining with Nispera, Fluence plans to merge its applications to offer customers a “manage app.” The Virginia-based firm, in addition to its Fluence IQ digital application line, offers battery energy storage capacity and integration systems to utility and non-utility customers.

It is contracted to bring grid stabilizing solutions to balance wind and solar for TECO in Taiwan. Fluence also recently announced a contract to deliver a 50-MWh energy storage system in Australia.

The deal is expected to close sometime in the third quarter. In addition to the $30 million buyout to existing private investors, Fluence is going to issue restricted stock to Nispera’s management team.

The stock allocation will be vested over three years for retention purposes, according to the report. The leadership team will operate in Zurich under the Fluence brand name.

-- -- -- 

(Rod Walton, senior editor for EnergyTech, is a 14-year veteran of covering the energy industry both as a newspaper and trade journalist. He can be reached at [email protected]).

Follow us on Twitter @EnergyTechNews_