20.12.2023 22:25:07 - dpa-AFX: GNW-Adhoc: Fluence Stands by its Work on the Diablo Plant, and Will Vigorously Pursue the Payments it is Owed for its Work and Dispute the Allegations in the Counterclaim Filed by the Operator of the Plant
ARLINGTON, Va., Dec. 20, 2023 (GLOBE NEWSWIRE) -- Fluence Energy, Inc.
("Fluence") (NASDAQ: FLNC), a leading global provider of energy storage products
and services, and optimization software for renewables and storage, became aware
of an article published today by Energy Storage News reporting that Fluence is
the defendant in a counterclaim relating to its contract with Diablo Energy
Storage, LLC. This information was disclosed in our recent Annual Report on Form
10-K for the fiscal year ended September 30, 2023 filed on November 29, 2023
with the Securities and Exchange Commission (the "SEC").
The article only focuses on the counterclaim which was filed in reaction to
Fluence's original claim against Diablo Energy Storage, LLC ("Diablo"), even
mentioning the law firm which filed it. Fluence's original claim was for
Diablo's failure to comply with the terms of their contract, including payment
of the remaining balance owed to Fluence and for other related damages. Instead
of discussing Fluence's position, set forth in its complaint, the article
focused on the counterclaim.
Fluence is pleased with the work it accomplished on the Diablo Plant, which is
the subject of the complaint, and it wants and expects to be paid for its work.
Fluence believes the counterclaim is without merit, and Fluence will vigorously
pursue its affirmative claims as well as defend against the claims by the
defendant Diablo Energy Storage, LLC.
Additional details are available in Fluence's Annual Report on Form 10-K for the
fiscal year ended September 30, 2023 filed on November 29, 2023 with the
Securities and Exchange Commission and available on the company's website
(https://ir.fluenceenergy.com/node/8816/html). There have been no material
developments in the litigation since the filing of the 10-K.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage
products and services, and optimization software for renewables and storage.
With a presence in 47 markets globally, 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 SaaS products for managing and optimizing
renewables and storage from any provider. The Company is transforming the way we
power our world by helping customers create more resilient and sustainable
electric grids.
For more information, visit our website (https://fluenceenergy.com/), or follow
us on LinkedIn (https://www.linkedin.com/company/fluenceenergy/) or Twitter
(https://twitter.com/fluenceenergy). To stay up to date on the latest industry
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(https://info.fluenceenergy.com/full-potential-blog-subscribe).
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and in other filings we make with the SEC from time to time. New risks and
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Media Contact
Shayla Ebsen, Director of Communications
Email: media.na@fluenceenergy.com (mailto:media.na@fluenceenergy.com)
(mailto:media.na@fluenceenergy.com)Phone: +1 (605) 645-7486
Analyst Contact
Lexington May, Vice President Finance & Investor Relations
Email: investorrelations@fluenceenergy.com
(mailto:investorrelations@fluenceenergy.com)
Phone: +1 (713) 909-5629
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