* The battery-based energy storage system is expected to increase grid

    stability by providing additional flexibility and support lower electricity
    prices through participation in energy trading.
  * This will be the fifth project Fluence is delivering for MW Storage, with
    previous projects in Finland, Germany, and Switzerland.

AMSTERDAM, June 27, 2024 (GLOBE NEWSWIRE) -- MW Storage AG
(https://www.mwstorage.ch/en/) (MW Storage), a Swiss investment fund experienced
in financing, developing, and operating energy storage systems, has selected
Fluence Energy B.V. (Fluence), a subsidiary of Fluence Energy, Inc. (NASDAQ:
FLNC) to deliver their third battery-based energy storage project in Finland.
The 20 MW / 20 MWh project will be located in the south of the country, close to
Mäntsälä in Uusimaa.
Finland is planning to achieve carbon neutrality by 2035. At the same time,
Finland's annual electricity demand is expected to increase by 20% from the
current level to 100 TWh in 2030. The corresponding ramp up of renewable
generation will require the flexibility best provided by energy storage. To
better integrate intermittent renewable generation, energy storage provides
flexibility and fast-responding ancillary services critical for grid stability.
In the next two years, 300 MW of grid-scale storage is expected to be connected
to the Finnish grid, according to LCP Delta (https://www.energy-
storage.news/sweden-and-finland-surge-ahead-of-norway-for-bess-deployments/).
Wilfried Karl, CEO at MW Storage, commented: "Our latest project in Finland
builds on our experience of deploying and operating several of our earlier
energy storage projects in Europe, with the focus on delivering maximum value to
society, network operators and investors. Quality, safety, and technological
advancement are our priority. For those reasons, we decided to partner with
Fluence once again to together deliver a solution to the challenges of the
energy transition in Finland."
Brian Perusse, VP of Sales and Market Development EMEA, commented: "MW Storage
has always been one of the frontrunners in the deployment of the latest storage
technology. We are pleased to be again selected as their partner in the
delivery, operation, and servicing of high-quality energy storage systems. With
over five years of experience operating energy storage assets in Finland, and
more than 16 years globally, Fluence is perfectly positioned to ensure long-term
performance, safety and quick delivery of storage systems."
The project marks Fluence's fifth joint project with MW Storage after the
announcement of the Wunsiedel megaproject (https://ir.fluenceenergy.com/news-
releases/news-release-details/mw-storage-and-fluence-partner-deliver-their-
largest-joint) in February in Germany and earlier collaborations in Switzerland
and Finland. In the Nordic markets, Fluence has deployed or contracted seven
projects to date, making it the key player in the region's energy storage
success story.
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 Energy, Inc. provides an
ecosystem of offerings to drive the clean energy transition, including modular,
scalable energy storage products, comprehensive service offerings, and AI-
enabled optimization software 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://www.globenewswire.com/Tracker?data=yPB7f0gTl4NTN0t7SDJT0Ay6EUqTSE7bbgV6
wICSMpeQ3vUTteFZrwu7mOyKWDA9Nr-39XdmhozgzT41PLc9f-vq2EdVes279GoW5PIX-
WJso7cfAzZa894LzcsthwvtiqPxFroO0bkd67htddvcO353IaRPMKmYuh1o5-
Ap079x0PeetYTfEiFrAGNVsOD8_4uundt98w_Tu--ZvJ8BY8LE-MMvp4Q-mUlGdfFIM7Ze50Kf0VqeNB
7qCvd42jIm2KUOmgfLnmMxSiME8cT1u1-Jq-0OSW5dlO_pD-M2Xm1cr18REtVBZd-RNDG3WJySnTEUzN
stFH4QEpEMv2lEPN0ngVeOaYjxYq3sJ7aZG5GXWNPPT-PG3qh6mx2CGi90DmmW_Z2PCK0DnycfKpMx4t
9DCiBVRYpT4YzuBwRgswI=), or follow us on LinkedIn
(https://www.globenewswire.com/Tracker?data=LSaXh27z3s9C5yWQQ0eQaSToZrPjMH2u53et
Yze5KGHevCnNRKHfKAEyGCCu6sSzdDfvlYvmevNj3F8YDtqGqY-
6rtGe5ibywwQ9X86OAtq9UBOJQF2F4M60ln0DA1mNVtOa8PY-eJ9Pl4RIRAV0zK4TCM3-
p2bJ698nkGK7bpgRtKglaZgtlXFmv9BxamJhljvt7-
T4HEHiAyQolLU4a2F04zJnBGJIsxJvbQ09O3qVtp7JOGbeDEqkbWKcio9ZF4kzJ2dNvjUdAII4hIuddR
aR81Q7l4Rhv1JDu03j3NWOIIsyUBigCo511LZCtSbphhaLNJrWomwIwaPcAg2nKLc8Ywz0PUxqW0Jv0J
fmv63-OotOBNkfYL93tzTvNP0rCsLXM6h7jVpRTnbvMR35lSmR2zFRcHb2Bz8UvJ-
a7m8Ym3YMtpmKfSvh6lFH1HWM) or Twitter
(https://www.globenewswire.com/Tracker?data=XN5KNeDWoRTcuJwkRUN3eqCf3tRewgO2MSuB
VH2QiJg0HmanVcil2pT40G_JPrZl_VDX3Mg4caC1V7opf5NFAymEzxvqE86syA8B_m3q9EIYPOVJ2SmU
6_PuiBzjilAsHALCut7_YgsGapV88iAUrmAqVu6Vv3zfF3P4Jjk0FQgXuqzXTQ0xiSMVyT21Z_z_U3cw
zeQMum3nE9o0b37giml7V-
OHpJ1HxVh3kxRhjshmfk0zBPU0cevcFPuXyRnH7s2jeJuusCv_oSY5MHu8udn3aPb6FJDQ2QDHVVgpek
Z8e_Qh2MQIzxKSoEh0GK68K6U5-
Jzo9hUNBw8AdUiNuvySSlhWxTUPwOIaOOsq0VXDOmplw1e_x3YfLVfCux4Q-
foUmKz4IvQjGIA_DvFZHpE2AZr4fAJjnj_h2QESAyU=). To stay up to date on the latest
industry insights, sign up for Fluence's Full Potential Blog
(https://www.globenewswire.com/Tracker?data=Eoq4ijIWzg6u4PmWxQphfa7Gg93_Ovz0XiLD
gxP8QNvJZ6IMU0pMisM5c3IBuSxKHyQZZ8e--N8nBM7F9bH6t-IjebxGho6N-I2bsvBNTa5wIij-KTK6
DT5xaX5NGoEbGtHxOeHqqFhRUyfAkr-lqgKdPxF6pH-Yse4hTKxc0mLUMdpNeBaZ7Wa_C-eDyzHxjxsv
EBR7Jw21EMq8kiOiuZ4ytwPt1PL605-bClU4ZG2L7aYFGoPPiRaRIh1novxFZqpft3wBjPefK-rrKdOI
9Ao86e4Ds6TCNuXnSPXUVAclv2WkGDpb0P3fPqK7kSBW7G72OOftAErwr4GuF74w2xmuuEmBT99EIDSW
uxlhJX_Z4Dps2Pvz9x8kQ0faTHan5_ZOaitb9cFRt16hlbs9Fk9-LSkRVVeKtzXqzVuBWPOlOQT73yIG
7YzGuQJhXeU-rJGKKZv__1qzXhiavOwJ-lPMkNCBO2A_hOkUDM2O_2453xaFJr8Jt9a1OipztpCdDt5m
SHQAGE_oCUdtquddnteX-MJWoNZ15HeUF63aw0Ekod26ZEfwH7Ivw-zKA9z7rczXolMaz5mE2WNK8ajl
gBUywdvZwkEXwPo9M9QqzSBhBWMg45GAb4UbO8G1JCzlosx5pzxGLuMQ5KIwXl49Mg==).
Media contacts:
Fluence
Joanna Spirodek, Senior Regional Marketing Manager, EMEA
Joanna.spirodek@fluenceenergy.com (mailto:Joanna.spirodek@fluenceenergy.com)
+49 172 8662155
Cautionary Statement Regarding Forward-Looking Statements
The statements described herein that are not historical facts are forward- looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the
anticipated outcome and operational performance and efficiency of the storage system. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as "may," "possible," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
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 a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward- looking statements, which include, but are not limited to, unforeseen circumstances outside of Fluence's control which may cause the project to not perform as anticipated, impacts to the project from geopolitical instability, extreme weather or changes in applicable regulations and policies in Germany or the European Union, failure to achieve the anticipated benefits and operational performance of the project, and other factors set forth under Part I, Item 1A
"Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, Quarterly Reports on Form 10-Q, and in other filings we make
with the U.S. Securities and Exchange Commission from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any
forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
Â