What Happened?
Shares of electricity storage and software provider Fluence (NASDAQ:FLNC) jumped 6.4% in the afternoon session after it was selected by AMPYR Australia to construct a major battery energy storage project.
The energy storage technology company announced it will build the 300 MW / 600 MWh Wellington Stage 1 Battery Energy Storage System (BESS) in New South Wales, Australia. The deal also includes a 20-year service and maintenance contract. This project marks AMPYR's first grid-scale battery system in Australia and is a significant step in the country's transition to renewable energy. The system, scheduled to be operational in 2026, will use Fluence's full suite of technology, including its Gridstack™ storage product and AI-powered Mosaic bidding software to optimize performance and profitability. For Fluence, this partnership reinforces its leadership in the growing Australian energy storage market and is expected to contribute to a strong increase in order volume for the second half of fiscal year 2025.
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What Is The Market Telling Us
Fluence Energy’s shares are extremely volatile and have had 64 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Fluence Energy is down 49.9% since the beginning of the year, and at $8.49 per share, it is trading 63.9% below its 52-week high of $23.50 from November 2024. Investors who bought $1,000 worth of Fluence Energy’s shares at the IPO in October 2021 would now be looking at an investment worth $242.
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