today’s are I’d a analysts Lex. Thank warm like who on our employees, to you, participating and call. investors, extend to welcome
first, to the demand of our earnings will a macro continue we on provide X Slide on summary, presentation. energy an and I update strong and experience services. performance In our begin Let’s products Today, storage for environment.
well addition, to security growing In energy and positioned on is Europe’s independency. strive to capitalize Fluence for
Digital a call in Later record our Seyed quarter Chief Officer, we Nispera. on for provide Madaeni more Fluence achieved and Digital acquire Second, the this acquisition. color will
fifth, majeure raw we Third, contracts. or have new RMI is on At in we progress that on further Gen X prices against objective performance. our and customer pricing the have in cost headwinds Financial encountering force Dennis Later production material also progress in the material Chief for we technology, to strategic Officer need base made successfully some contracts making which price us. volatility. to rollout our diversifying battery QX battery raise rolling financial in out new And we same raw call, improvements. will Fourth, time, protect Fehr, key still been in this resulted suppliers, index our tackle our a but had are address
I year the XXXX earlier. discuss be guidance as will low-end of revenue to result he now our fiscal As the mentioned we range at headwinds, expect the of it
quarter we Turning are XXX strong to contracted storage megawatts We’ve of excellent had the across to quarter the business. during secular demand Slide of and order X, intake we second energy they an experiencing. illustrated continue
during the utility materials attachment were remain IQ we the energy that will that to of year a illustrating a to contracted to this that contract. demand the XXXX. XXX storage Fluence to follow-on contracts We an of contracts contracts these equipment. pleased customers fiscal year, cost Many reflect in half new in be services contract and companies after know and second unwavering. below anticipate for business, been revenue storage quarter, have customers this I’m delivered We tend working raw in megawatts second several of In rate months XX%. quarter we our services contracts with executed our record new in terms signed of sign increases similar QX our service XX% experience during with batteries closely target in with of
gigawatt of quarter, contract. the management. have added new or During we And of contracted we X.X deployed March gigawatts as digital XX, under X.X assets
gigawatts, is our does include business Fluence I’d of leading our associated management Fluence to X.X acquisition. our contract X also opens first in to with up Importantly, pumped Fluence related a like comments we the few solar additional U.S. new for new this not representing probe significant asset Department’s out point Nispera like gigawatts plan. added same under class hydro also IQ this convention make a growth The application. I that quarter, the would for which into Commerce the IQ, [ph] and dumping. and for a opportunities to head
are during actions that Greenfield it know of backlog, to asset. panels. commercially event this first clarify are me and overall not revenue that seen our store us probe. to could have our start currently an fiscal solar energy plus our to this probe. impact from intake not relating to order approximately to the piece for We complete any of Although, connected We result responsible projects. let installation on was not too these procuring this still available, product storage to this solar what pipeline is regards to XX% the beneficial In it product we the year, on U.S. half the speculate that for early In customers is
XX% as least respect could at timing. and this to However, with impact we pipeline, much acknowledge to could product as of our XX% change
diversified company geographies with offerings is a and global Fluence sectors. across However,
yet increased reflected to from Europe that product For in not see is example, demand we expect our pipeline.
and will an this especially Their use increased and gas. oil growing on events our which to need their paramount. exacerbated excited for renewables, X, becomes Turning for need energy Europe more European Europe, of have And storage. geopolitical are we independency energy foreign one will solutions the Slide address key dependency to continue the business security natural many be recent countries situation require of in reduce in on to the to
early in March, to Commission renewables gigawatts doubling gigawatts a the launched nearly initiative transition that the fact, of for from will REPowerEU asset by renewable accelerate until approximately XXXX. In XX calling annually to XX European additions the
As create you can imagine, and this in increase asset more additional issues, reliability necessitating generation grid storage. renewable thus, will stability energy
our We Europe increased have from energy from in already interest seen storage. customers
very the its enabling energy in to is well on capitalize security to and need, this Europe, achieve market Europe goals. As positioned emerging leader Fluence independency
strategy. in that like production we locations the to the pleased regional on an Slide the to of protecting would against soaring update logistics progress advancing you addition of manufacturing Through the planned U.S. this logistic be to will X, our to there and agreement X interruptions end turning calendar contract I in manufacturing contract Now based expect for have we made we ourselves I an signed costs. year. toward we have and initiate facility. U.S. am report Europe, And
starting on And facility on in you our are look update next XXXX. track forward European-based We year calendar our early call. for providing with to an
in joint announced first quarter recall venture you ReNew on strategic a we India. our on may with Power call, As
accordingly. weeks have expect in finalized and up to in ramping coming We India, will the the agreement operations begin
Belgium them megawatt we Ghislain. successfully power Google report with for I’m free-battery the in for pleased project datacenter backup X.XX deployed to to emission in a Additionally, St. that provide C&I April,
with to this Google XXXX. project, to become proud by We are for carbon-free as partner first-of-its-kind they strive
approximately for solutions. sub-segment While overall power at the backup sub-segment, other represents requirements a backup major our This increased current development segment this power fossil backup seeing as small emission the of Fluence for of C&I opportunity worldwide. organizations represents commercial demand XX replace [ph] significant portion with we’re increasingly mix, the a systems fuel free-battery datacenter gigawatts
mitigate to we of I their the like to update that would provide X, actions headwinds have some taking the brief been impact. are Slide that facing a Turning we and on to
us in areas. First, supply disruptions couple have chain of a affected
the has earlier front, capacity still of shipping on The by see new is mitigating shipping battery and we On of possible. have to that been are affected. another better we ports price impacts congestions. contracts, how these shipping area global and stabilize, challenges seen where we rates sales visibility some shipping providing But supply transportation
batteries XX XXXX provide of have XXXX, for needs. enough adequate supply also secure our our As hours contractually you recall, suppliers may we gigawatt from
comes in to meet in to allows recently zero-COVID battery the cells policy. their industry. of our majority force majeure declared contractual current our which China China, contracts, ability world’s force affecting we ship This others able will significant enforce majeure in the our Under not suppliers’ declaration whom customers for be declare several and to us of force However, Therefore, supply to timelines. again battery to have battery majeure from lockdowns suppliers’ timely and on the manner. suppliers to are the lockdowns one produce a
possible We contracts. expect the related protect charges under to this timing from us affected
our how know manufacturers both will long not last, current closely we do China the are with situation battery we and While elsewhere. in working
As our percentage and manufacturers in batteries part number expect of the this XXXX. non-China been our suppliers. we supply pleased Chinese have we diversifying regionalization of represent about to report working battery to as supply by by grow strategy, to as reduce to that regionally, of we exposure well our XXXX already our XX% I’m made in
supplier reduced by overall our increasing of number We also concentration suppliers. battery have the
the items will Dennis compounding good one associated on progress previously on quarter results that reducing our reflect as of second address Second, with the COVID-XX. effect shortly, were
impact as this progress the year. of we second expect this continue through We reducing to half
as noted seen materials. protect cost volatility to Third, earlier, new pricing I of we contracts for to against in been the moving the we RMI-based have raw have
in and creative seen a engage all we far, have acceptance So optimal by partners solutions finding our to for broad parties.
have in on product commissioning field. our and Finally, made X we progress Gen installing the
of our products with have past our X X and on previous we the rollout delays additional months. costs discussed we experienced associated the Gen call, over As
learned the our from and team were with why crews. suppliers which we components That unforeseen supplier The this costs. installations. the delays, of is sub-standard for operate more and particularly and some our the large inverter training time, working lessons of and is reasons designed, Faulty ensure one of control components have for as have new During quality at to risk delays documented reduce or conducted our suppliers team. a we will family battery
now Slide As Gen our schedule. we that fully installation you caught X can to up on see I’m on pleased report are X,
Nispera of as mega installed Furthermore, about a includes Desert with of energy We megawatts. elements, power with such millisecond of or have now a acquisition the both turn installations feature XXX High and This generation, time. call X XX of [ph] product are the ability that many accomplishments storage IQ. and Diablo several what provide first-of-its-kind and year, to the systems guarantees geothermal on beginning to I such to push showcase impact over innovate These first in site first will more our combined successfully Fluence its these boundaries response and the XXX as possible. the the since the California. amazing color Gen is bit co-located on Seyed
