Varco Energy chooses Fluence to deliver battery energy storage project providing critical grid flexibility in Great Britain

• The project will increase energy security and enable greater integration of renewables by participating in the capacity market and providing fast-acting flexibility services.
  
• The energy storage system will have enough capacity to power approximately 37,000 British homes for the period of 2.4h
  

LONDON, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Varco Energy (Varco), a pioneering UK-based battery-based energy storage asset owner and operator, has chosen Fluence Energy UK Ltd. (Fluence), a subsidiary of Fluence Energy, Inc. (NASDAQ: FLNC) to deliver one of its first battery-based energy storage systems in the United Kingdom. The 57 MW / 137.5 MWh project, named Sizing John, will be deployed at a substation in Rainhill, south of St Helens. It will support National Grid Energy System Operator (NGESO) in balancing the power grid as more intermittent renewables come online, by providing a suite of fast-acting flexibility services. The project will also trade on wholesale power markets to help load shift excess renewable energy into periods of peak demand, as well as support energy security through participating in the capacity market.

The Sizing John project comes at a highly relevant time for the UK, not only in supporting the government’s move towards net zero, but by providing much needed new-build investment into a storage sector that is integral to managing the supply and demand flow of renewable energy. The project has pre-designed significant expansion capabilities to match a potential higher connection capacity expected in 2026, which would further help NGESO balance one of the most congested parts of the UK power grid, known as the ‘Mersey Ring’.

Varco, an Adaptogen Capital funded BESS operating company, is on a mission to drive the energy transition to a net-zero future by building flexible energy storage. By helping to integrate renewable energy generation and balance the grid, Varco aims to make sustainable energy accessible and affordable for all consumers.

James Mills, Director, Varco Energy, said: “Battery-based energy storage is critically needed infrastructure to help balance the intermittent nature of renewable energy generation and break the UK’s reliance on fossil fuels. We are therefore delighted to be partnering with Fluence, an industry leader in safety standards, experience in the market, and speed and quality of deployments, for one of our first projects. At Varco we are committed to investing in assets that will accelerate renewable integration, sustain a resilient grid and drive consumer value in the UK. This project is one of the first of many as Varco seeks to deliver on its ambitions.”

Brian Perusse, Managing Director of Fluence Energy UK Ltd., commented: “Fluence is pleased to partner with Varco Energy to deliver a project that will provide additional flexibility to the grid network, a critical aspect of increasing the grid’s resilience as we work towards transforming the way we power our world. Sizing John is our first project in the British market with a duration of 2.4h, as we are committed to providing tailor-made solutions and applications our customers and markets need. For Fluence, Sizing John will be another project contracted or deployed in the UK and Ireland, with a current total company portfolio in those markets exceeding 1,4 GWh.”

About Varco Energy

Varco Energy is based in the UK and backed by the Adaptogen Capital Battery Storage Fund. Varco is committed to driving the energy transition to a net-zero future by building flexible energy storage in the UK. Varco currently has 114MWs of BESS projects under construction to keep moving the UK towards a renewable future.

About Adaptogen Capital

Adaptogen Capital is a specialist battery storage investment firm backed by some of the earliest investors in the UK storage industry. We were founded to provide insightful expertise to our investors and help them navigate the energy transition as sustainably and profitably as possible. Capital comes from a broad range of family office and institutional investors, with significant investment from our founding directors.

About Fluence

Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimisation 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. The company 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.

Media contacts:

Varco Energy
Georgina Whittle, Partner, Camarco
Georgina.whittle@camarco.co.uk
+44 (0)7835 770 967

Tom Huddart, Partner, Camarco
Tom.huddart@camarco.co.uk
+44 (0)7967 521 573

Fluence
Joanna Spirodek, Regional Marketing Manager, EMEA
Joanna.spirodek@fluenceenergy.com
+49 172 8662155

Forward-Looking Statements

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