Arlington-Based Fluence Energy Files $855.6M IPO

The energy storage company proposed selling 31 million shares of common stock ranging from $21 to $24 apiece.

Written by Charli Renken
Published on Oct. 21, 2021
Arlington-Based Fluence Energy Files $855.6M IPO
Fluence Energy Files IPO, Aims for $4B Valuation
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Fluence Energy Inc., an energy storage company focused on sustainability, will soon go public.

According to a SEC report filed by the company on Tuesday, Fluence plans to sell 31 million shares of Class A common stock. An additional 4.56 million shares will also be put aside for underwriters. The price of the shares will range from $21 to $24, and the company expects to raise a maximum of $855.6 million. According to Reuters, this would bring the company’s valuation to nearly $4 billion. 

While Fluence has yet to set a date for its IPO, it hopes to trade on the Nasdaq Global Market and has applied to do so under the symbol “FLNC.” The company expects to retain somewhere between $650.9 million and $750 million in net proceeds, depending on the underwriters purchasing additional shares. These funds will then be put toward repaying debts. 

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Fluence provides comprehensive energy storage services, including developing software that allows batteries to hold more energy and take pressure off the electric grid. Its mission is to create a more sustainable energy market. Fluence’s AI-backed IQ Digital Platform maximizes the value of renewables and storage by optimizing wind, solar and energy from any provider.

The past year has been a big one for Fluence. In addition to filing for its IPO, Fluence hit unicorn status — reaching a valuation of more than $1 million — after raising $125 million from the Qatar Investment Authority in private equity in December of 2020. Last October, the company also acquired Advanced Microgrid Solutions, a leading provider of AI-enabled optimized bidding software, for an undisclosed amount.

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