October 19, 2021

Clean energy storage firm Fluence targets $4 billion valuation in U.S. IPO

Reuters

Renewable energy storage firm Fluence Energy Inc said on Tuesday it is aiming to fetch a nearly $4 billion valuation in its U.S. initial public offering, as investor interest in such technologies soars alongside growing calls to limit climate change.

The company, a joint venture between Germany’s Siemens AG (SIEGn.DE) and U.S.-based AES Corp (AES.N), says it is looking to offer 31 million shares priced between $21 and $24 apiece. At the top end of that range, the IPO would fetch $744 million in proceeds.

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