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AES, Siemens create energy storage joint venture

Published 07/11/2017, 08:01 AM
© Reuters.  AES, Siemens create energy storage joint venture
AES
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SIEGY
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  • AES Corp. (NYSE:AES) and Siemens (OTCPK:SIEGY) say they are forming a 50-50 joint venture company to sell their lithium-ion battery technologies.
  • AES subsidiary AES Energy Storage and Siemens’ battery-based energy storage solutions group will be merged into a new entity called Fluence, which will operate independently of its two owners.
  • Siemens technology focuses more on projects for individual companies and enterprises, such as universities and hospitals, while AES targets larger arrays that are incorporated into a region's electrical grid.
  • Now read: 'Safer' Dividend Utilities Find Minas Tops For Net Gains In July


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