Energy storage leader Fluence is seeing strong demand from the power hungry utility sector and will become profitable this year, CEO Julian Nebreda told CNBC in an interview Friday.
Nebreda said Fluence is preparing for "hypergrowth" as wind and solar play a growing role in the U.S. power grid.
Fluence is the energy storage leader in the U.S., he said.
The $25.6 million loss the company reported was 31% lower than its loss in the year-ago period.
Founded in 2018 by Siemens and AES, Fluence went public in October 2021 at $28 a share, quickly touching $35 on its first day of trading.
Persons:
Fluence, Julian Nebreda, Nebreda
Organizations:
Fluence, Siemens, AES Company, AES Alamitos Battery Energy Storage, Energy, CNBC, AES, Government
Locations:
Long Beach , California, U.S, Friday's, Qatar