Today we announced that Fluence received all required approvals and is now fully operational. Fluence combines the people and capabilities of AES and Siemens’ energy storage teams into one organization. We designed the new company from the ground up to deliver on the promise of energy storage by improving power systems, reducing costs, and creating a more sustainable future. Backed by our joint owners, Siemens and The AES Corporation, the Fluence team will continue to partner with our customers on all of their energy storage technology and services needs.
We are also scaling up our offerings to better serve our customers and to extend our reach to more applications and more markets. In addition to Advancion and Siestorage, we now have a third technology platform specifically designed to optimize photovoltaic solar generation called SunFlex Energy Storage. With SunFlex, solar generators can eliminate solar variability, increase solar generation by up to 50 percent and expand the delivery of solar energy into the night. Fluence will also now offer a comprehensive suite of financing options to our customers. In partnership with Siemens Financial Services, we can structure everything from small-scale leases to large-scale project finance packages that fulfill an important component of new project development.
We are excited to be able to share this news with you and look forward to continuing our work together as Fluence!