Fluence Energy, Inc. Announces Closing of New $400 Million Asset-Backed Lending Facility
November 27 2023 - 7:30AM
Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a
leading global provider of energy storage products and services and
optimization software for renewables and storage, today announced
that it has entered into a new four-year $400 million Asset Backed
Lending (“ABL”) credit facility maturing in November 2027.
The ABL is secured by the Company’s eligible inventory and other
assets and replaces the Company’s existing $200 million Revolving
Credit Facility (“RCF”), which was terminated today.
The transition from the RCF to the larger ABL facility will
improve Fluence’s ability to manage working capital, significantly
enhancing the Company’s already strong liquidity position. The ABL
facility provides a more flexible solution to enhance control over
inventory-related financing.
“We expect the enhanced liquidity to be utilized to finance our
growth plan as we continue to scale globally,” said Fluence
President and Chief Executive Officer Julian Nebreda. “Our team
expects to continue to build upon our market leading position in
utility-scale energy storage solutions in the U.S. and worldwide,
while establishing a strong foundation for annual recurring
revenues from the services and digital business through our
hardware solutions.”
Barclays is serving as Administrative Agent, Joint Lead
Arranger, and Joint Bookrunner. J.P. Morgan is serving as Joint
Lead Arranger and Joint Lead Bookrunner.
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 over 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. Fluence is
transforming the way we power our world by helping customers create
more resilient and sustainable electric grids.
For more information, visit our website, or follow us on
LinkedIn or Twitter. To stay up to date on the latest industry
insights, sign up for Fluence's Full Potential Blog.
Cautionary Note
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
expected benefits of the ABL facility, the Company’s current growth
plan. 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, 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, 2022, filed with
the Securities and Exchange Commission (“SEC”) on December 14,
2022, as updated by Part II, Item 1A. in our Quarterly Reports on
Form 10-Q, and in other filings we make with the SEC 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.
Media Contact
Shayla Ebsen, Director of Communications
Email: media.na@fluenceenergy.com
Phone: +1 (605) 645-7486
Analyst Contact
Lexington May, Vice President, Finance & Investor Relations
Email: investorrelations@fluenceenergy.com
Phone: +1 (713) 909-5629
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