AMRC up 45% today AH and it gave us insights on Data Centres and Behind the meter
They validate our insight on Batteries
AMRC up 44%. Woah. A grid company. An industrial grid company moved 44% after earnings. What !!!
Ameresco is the on-site power integrator and it printed a record $1.8B of awards. $1.2B of that is data centers. Five projects, more than 1GW of behind-the-meter power, with hyperscalers and neoclouds in the deals!!
And buried in the project description is an important insight for $FLNC holders: every single one of those power stacks ships with a battery in it. Recips, turbines, fuel cells — and BESS, glued together as a microgrid!
Here is the direct quote from today’s call
“The solutions we are providing include a combination of reciprocating engines, gas turbines, fuel cells, battery energy storage systems, and integrated microgrids, designed to deliver the reliability required by today’s most demanding data center customers.”
They are clearly saying that there will be a combination of power behind the meter for a lot of reasons. Here is a quote again to understand why Batteries are important
“One is for the resiliency for when you're doing maintenance or upsets. The other side of that is really just to stabilize the load shift from the varying, especially with the AI load profile. It would be combination.”
And then lastly the important question is how long duration are their Data centre customers going for Batteries.
It’s 2 hours.
There was a lot of FUD that FLNC will not be able to service Data centre demands as they are not long duration.
Risks: $FLNC runs 11–13% gross margins with ASPs down 50% in two years — volume must keep outrunning price. And this market punishes timing slips: Vertiv grew 24%, raised guidance, missed revenue by 3% — and fell 17%