(Reuters) -Fluence Energy Inc aims to raise up to $744 million in its initial public offering in the United States, the energy storage technology company backed by Germany’s Siemens AG said on Tuesday.
The company says it is looking to offer 31 million shares priced between $21 and $24 apiece.
Fluence’s listing plan comes at a time when global investors and lawmakers are pushing for more sustainable and environmentally friendly ways of doing business amid heightened climate change concerns.
Fluence was created in January 2018 through a joint venture that brought together AES Corp’s Energy Storage division and Siemens’ battery-based energy storage solutions group.
J.P. Morgan, Morgan Stanley, Barclays and BofA Securities are the lead bookrunners for the IPO.
(Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)
