Fluence and Münch Energie Are Building a Hybrid Storage Plant Enabling Smart Integration of Solar PV in Germany

11. 7 MW/34 MWh battery-based energy storage system co-located with a solar farm, has been awarded a contract under the Innovation Tender. Once completed, the project will produce enough energy to supply 5000 households with renewable, low-cost energy for an entire day.

ERLANGEN, Germany, July 12, 2022 (GLOBE NEWSWIRE) — Fluence Energy , Inc. (“Fluence”) (NASDAQ: FLNC), a global market leader in energy storage products, services, and digital applications for renewables and storage, will supply a combined 11. 7 MW/34 MWh battery-based energy storage system to Münch Energie, one of the largest decentralised energy suppliers and developers of photovoltaic power plants in Germany.

The project, scheduled for completion in April 2023, will co-locate Fluence’s Gridstack energy storage product with a 34 MW solar plant in in Merseburg, in eastern Germany. Once completed, the project will be directly connected to the electricity grid via a specially built transformer station, enabling Münch Energie to participate in the secondary reserve market (aFFR). “Fluence and Münch Energie are committed to accelerating the energy transition, utilising smart energy storage to increase Germany’s share of renewables, reducing the country’s dependency on natural gas-based generation, and ensuring affordable electricity for German energy users,” commented Brian Perusse, VP sales and market development EMEA at Fluence.

“Renewable generation and battery-based energy storage are both critical in achieving Fluence’s mission to create a more sustainable future by transforming the way we power our world. We are proud to be working together with Münch Energie on the development of this project – the first one for Fluence to be deployed under the German Innovation Tender,” added Perusse. In May this year, the project was awarded a contract in the Innovation Tender run by the German Federal Network Agency (Bundesnetzagentur).

The tender is open to projects which combine solar generation and at least one other eligible technology per site that will share a grid connection point. The winning bidders are awarded the 20-year contracts with a fixed market premium price for the renewable energy they produce. By 2028, the market regulator plans to award contracts of up to 4 GWh to the developers of distributed energy storage systems under the Innovation Tenders.

“Münch Energie has decades of experience in developing solar plants with megawatt capacity measured in triple-digits. This, combined with our successful track record in constructing substations and grid connections, makes us perfectly positioned to partner with Fluence, a leading global technology company with a strong European footprint to deliver solar + storage projects in Germany,” commented Benjamin Voth, Project Manager. “The German electricity grid is in full transformation, and it is now in our hands to position ourselves solidly for the requirements of tomorrow.

To drive the further development of solar + storage projects in the country, Münch Energie and Fluence are planning more projects with triple-digit megawatt-hour capacity,” said Mario Münch, founder and CEO of Münch Energie. In May, the European Commission published the REPowerEU Plan. The package of new policies is aimed at driving the construction of renewable generation projects.

The European Commission proposed to increase the target for the energy generated from renewable sources to 45 per cent by 2030, up from 40 per cent previously planned and called for the installation of over 320 GW of solar photovoltaic generation by 2025, over twice today’s level, and approximately 600 GW by 2030. “By combining intermittent solar generation with battery-based energy storage, the German electricity grid will be significantly more resilient. Fast-acting energy storage will be charged in the daytime during the periods of high generation and dispatched during the peak demand, usually in the evening.

This way, we will not only contribute to increasing the share of renewable energy in the grid mix, but we will also supply the low-cost electricity at the times when the prices increase due to higher demand,” commented Benedikt Schwinger, project manager at Münch Energie. For the accelerated deployment of renewable energy sources to be successful, Germany and the whole of Europe need rapid roll out of proven technologies which increase grid flexibility and enable safe and efficient integration of renewable generation into electricity systems, delivering security of supply, affordability, and sustainability. To this end, battery-based energy storage is a quickly deployed, cost-effective, and low-emission solution with the potential to become a backbone of modern, resilient, and decarbonised energy systems.

It enhances network stability, eases congestion on transmission lines, and reduces renewable curtailment. About Münch Energie Münch Energie is one of the largest decentralized energy suppliers in Germany and is committed to supplying entire regions with affordable, sustainable and secure energy. With around 20 years of experience, Münch Energie offers businesses, municipalities and consumers reliable, end-to-end energy concepts, thereby increasing the independence and future viability of these regions.

Each year, Münch Energie realizes major photovoltaic projects with double to triple-digit megawatt capacity. These concepts integrate local agriculture, industry and infrastructure, all of which also benefit directly from the power plants. Sustainable energy projects thus not only secure an economically and ecologically valuable supply of energy; their decentralized structure also ensures that any added value that is created remains in the region.

True to our vision of “preserving the earth together”, the sustainable management of energy and the (global) environment is more than just a business model for Münch Energie; it is a fundamental attitude held throughout the entire company. Learn more about Münch Energie at www. muench-energie.

de or follow us on LinkedIn. About Fluence Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and digital applications for renewables and storage.

With a presence in 30 global markets, 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 digital applications for managing and optimizing renewables and storage from any provider. Fluence is transforming the way we power our world by helping customers create more resilient and sustainable electric grids. For more information, visit Fluence’s website , or follow us on LinkedIn or Twitter .

Forward-Looking Statement The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements, including, without limitation, expected timing for the project to be fully operational and anticipated benefits and impacts of the project, including on the German energy transition. 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 significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Fluence’s control and are difficult to predict.

Factors that may cause such differences in expected results include but are not limited to the following: delays with the deployment of the project, including those caused by disruptions in the supply chain and extreme weather, delays with connecting the project to the grid and making it fully operational, and the potential implementation of a revised or new regulatory framework by German or European Union regulators affecting the project deployment and/or impact. Fluence cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect Fluence is set forth under the “Risk Factors” section in its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, and available on the SEC’s website at www.

sec. gov. Except as otherwise required by applicable law, Fluence disclaims any duty to update any forward-looking statements contained in this press release, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

Should underlying assumptions prove incorrect, actual results and projections could differentiate materially from those expressed in any forward-looking statements. Media Contact Fluence: Joanna Spirodek, Regional Marketing Manager, EMEA Email: joanna. spirodek@fleunceenergy.

com Phone: 0049 17286 62155 A photo accompanying this announcement is available at https://www. globenewswire. com/NewsRoom/AttachmentNg/ef29395f-ae2f-46f7-8d9e-86ed87ca1951.