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Fluence and AGL sign deal to deliver the 500 MW / 2000 MWh Tomago Battery Energy Storage System in Australia

1. Fluence Energy secures a major deal with AGL for a 500 MW project. 2. Tomago BESS is Fluence's largest project, enhancing their position in Australia. 3. This project marks Fluence's 5 GWh capacity achievement in Australia. 4. The deal includes ongoing service and maintenance, ensuring future revenue. 5. AGL continues partnership to advance renewable energy storage in Australia.

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Why Very Bullish?

This significant project enhances Fluence's reputation, showcasing growth potential in the renewable sector. A similar past success increased stock value significantly for comparable companies.

How important is it?

The scope and scale of the project imply a strong likelihood of positive market response and potential for increased future contracts, making the announcement timely and relevant.

Why Long Term?

The completion and success of this project could create a trend that bolsters Fluence's long-term contracts and revenue streams, paralleling prior large-scale installations that promoted sustained market presence.

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MELBOURNE, Australia, July 31, 2025 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. ("Fluence") (NASDAQ: FLNC), a global market leader delivering intelligent energy storage, services, and asset optimization software, today announced that Fluence has been selected by AGL to deliver the 500 MW / 2000 MWh Tomago Battery Energy Storage System (BESS) in Newcastle, New South Wales, Australia. The deal is Fluence’s largest project transaction globally, one of the largest energy storage transactions by MWh in the Australian National Energy Market (NEM) to date, and marks 5 GWh of projects by Fluence in Australia. The Tomago BESS will be the third grid-scale battery storage system Fluence will deliver for AGL, having completed the 50 MWh Broken Hill BESS and currently constructing the 1000 MWh Liddell BESS. The Tomago BESS project will use Fluence’s Gridstack Pro™, a utility-scale energy storage product with optimized design and flexibility and will provide grid-forming capability to improve grid reliability. AGL has contracted Fluence to construct the project and provide ongoing service and maintenance. “We are honored to be selected by AGL and partner with them on the Tomago BESS project. This project strongly demonstrates our ongoing commitment to support AGL in their ambitious plan to deploy large-scale battery storage systems for a renewable energy future across Australia. Australia remains one of the most important storage markets globally, experiencing significant growth as the country accelerates its transition to renewable energy sources,” said Jan Teichmann, SVP & President, APAC. “Our team takes great pride in continuing our partnership with AGL to meet the challenges of Australia’s energy transition. The Tomago BESS is a testament to the strength of Fluence’s full scope project deployment expertise in Australia and the products we offer to this market,” said Jason Beer, General Manager, Fluence Australia. “We are pleased to continue our partnership with Fluence as the battery energy storage provider for the Tomago Battery. This project builds on the work we have done together for AGL’s Broken Hill and Liddell batteries,” said AGL Chief Operating Officer, Markus Brokhof. Fluence has a strong track record in Australia, with four storage systems currently in operation, another two expected to enter into operation in the next few months, and several BESS projects currently under construction. About FluenceFluence Energy, Inc. (Nasdaq: FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. The Company's solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed, and under management across nearly 50 markets, the Company is transforming the way we power our world for a more sustainable future. For more information, visit our website, or follow us on LinkedIn or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog. Cautionary Statement Regarding Forward-Looking Statements The statements contained in this press release 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 the anticipated operational performance of the Tomago BESS project, including output and capacity, expected impact of this project on the Australian power grid, timeline of the Tomago BESS project, and other beliefs, assumptions, prospects, plans, and objectives of management. 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," "commits", "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, severe weather events impacting the project, changes to the regulatory environment in Australia, general economic conditions, the potential for political, social, or economic unrest, terrorism, hostilities or war, unforeseen circumstances outside of Fluence’s control which may cause the energy storage systems to not perform as anticipated, and such factors set forth under Item 1A."Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024, filed with the Securities and Exchange Commission ("SEC") on November 29, 2024, 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 Chaanah Crichton, Head of Marketing, APAC Email: Chaanah.crichton@fluenceenergy.com   Phone: +61426584943 Analyst Contact Lexington May, Vice President of Investor Relations and Sustainability Email: investorrelations@fluenceenergy.com Phone: +1 (713) 909-5629 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8e4608ca-f135-4fd0-992e-30ea36d8517b Fluence and AGL sign deal to deliver the 500 MW / 2000 MWh Tomago Battery Energy Storage System in A... The deal is Fluence’s largest ever project transaction globally and one of the largest energy storag...

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