Arlington-based energy storage provider Fluence announced last week that the Qatar Investment Authority (QIA) will invest $125 million in the company.
Fluence is a joint venture of Arlington-based energy company AES Corp. and industrial manufacturing giant Siemens. The company will use the investment to develop digital products and deploy existing products to additional global markets. AES and Siemens will continue as major shareholders, each with approximately a 44% stake in the company.
“We see energy storage as the linchpin of a decarbonized grid and adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage,” Fluence CEO Manuel Perez Dubuc said in a statement.
