More than 4.5 million homes and businesses were left without power, some for several days. The storms triggered the worst energy infrastructure failure in Texas state history, leading to shortages of water, food, and heat. Roughly, 1GW powers around 725,000 homes, so that’s around 3.6 million homes’ worth of power.In February 2021, the state of Texas suffered a major power crisis, which came about during three severe winter storms sweeping across the United States on February 10–11, 13–17, and 15–20. Together, AMS and Fluence cover nearly 5GW of existing or awarded assets around the world. The acquisition follows a yearlong partnership between the two companies. This can increase the internal rate of return for energy storage from around 10% (using manual trading) to as much as 25-30%. The impact of the combined companies will provide owners with the ability to reduce the payback period of their energy storage assets from more than six years (using manual trading) to as little as three years. These innovations will drive the transformation of global electric power systems to ensure The combination of Fluence’s integrated hardware, software, and digital technology with AMS’ AI software will optimize renewable energy and energy storage assets, deliver more value for asset owners, improve reliability and flexibility for grid operators, and help lower carbon emissions. Renewable energy and energy storage are the solution. Our century-old power system is stressed. The two companies will help utilities, developers, and commercial and industrial customers optimize energy storage and flexible assets to improve grid reliability and efficiency, deliver additional revenue, and support the global transition to more sustainable and resilient power systems. AMS and Fluence will combine Fluence’s experience operating batteries in the field with AMS’ ability to optimize market participation. Wind, solar, and energy storage can create a more resilient and reliable grid, but they need to be equipped with the right software.ĪMS’ tech (pictured above) uses AI, advanced price forecasting, portfolio optimization, and market bidding to ensure energy storage and flexible generation assets are responding optimally to price signals sent by the market. Energy storage tech solutions company Fluence, a Siemens and AES company based in Arlington, Virginia, today announced that it has acquired San Francisco-based Advanced Microgrid Solutions (AMS), a provider of AI-powered software for utility-scale storage and generation assets.įluence’s acquisition will maximize the value of energy storage and renewables and accelerate grid decarbonization.
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