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Clean energy storage firm Fluence targets $4 billion valuation in U.S. IPO

Clean energy storage firm Fluence targets $4 billion valuation in U.S. IPO

(Reuters) -Renewable energy storage firm Fluence Energy Inc said on Tuesday it is aiming to fetch a nearly $4 billion valuation in its U.S. initial public offering, as investor interest in such technologies soars alongside growing calls to limit climate change.

The company, a joint venture between Germany’s Siemens AG and U.S.-based AES Corp, says it is looking to offer 31 million shares priced between $21 and $24 apiece. At the top end of that range, the IPO would fetch $744 million in proceeds.

Arlington, Virginia-based Fluence serves major utilities, developers, as well as commercial and industrial businesses, promising increased efficiency through its digital platform designed for renewables.

Global investors and lawmakers have begun pushing for more sustainable and environmentally friendly ways of doing business amid heightened climate change concerns.

Tapping into this demand, other green energy-focused companies such as Bill Gates-backed Heliogen Inc and Goldman Sachs-backed…

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