Fluence Energy responds to “misleading” short seller report

Fluence Energy issued a statement in response to a report published by a short-seller. The company believes that the report is an attempt by a self-interested short-seller to profit at the expense of Fluence’s shareholders by manipulating Fluence’s stock price. Highlights of the statement include: “The company believes it is important to set the record straight regarding three blatant misrepresentations:…The short-seller’s report references pending litigation between Fluence and Siemens Energy…this is a small, ordinary course commercial dispute arising from a single project. Fluence brought the action to collect approximately $2M in unpaid amounts due, and Siemens Energy responded with counterclaims of approximately $9M…the case is progressing in the ordinary course. Siemens AG and its German retirement fund are investors in Fluence. Siemens AG has a minority ownership interest in Siemens Energy – it is not the same company and there is no legal case between Siemens AG and Fluence. We believe the litigation with Siemens Energy has no effect on our strong relationship with Siemens AG. The short-seller’s report wrongly implies AES is moving away from Fluence as a supplier. In fact, Fluence continues to be AES’ preferred Battery Energy Storage Systems technology provider…”