Melbourne, New York 13 March 2020
Fluence Corporation Limited (ASX: FLC) is pleased to announce that it has entered into a new strategic market segment and new province with an Aspiral TM sale to Beijing China Railway Science New Technology Co. Ltd. for a project involving the Chinese Railway System in Inner Mongolia.
Utilizing Fluence’s proprietary MABR technology, this Smart Products Solution consists of an Aspiral™ L3 unit to treat an initial 35m 3/day of highly concentrated wastewater. The wastewater is unusually high in nitrogen, similar to Fluence’s Hubei highway Systems project s and, once treated, will meet standards equivalent to China ’s Class 1A effluent requirement . Fluence’s MABR technology has demonstrated its ability to comply with the required effluent standards in previous extreme cold temperatures, while maintaining treatment fidelity.
Fluence Receives First Bulk Follow-On AspiralTM Order from Kaitian in China
Melbourne, New York 30 December 2019
Fluence Corporation Limited (ASX: FLC) is pleased to announce that it has secured a follow-on AspiralTM order from Aerospace Kaitian Environmental Technology Co., Ltd (“Kaitian”) with a value of more than US$3 million. Shipments are expected to begin immediately and will extend into early 2020.
This first bulk order from Kaitian for a total of 15 wastewater treatment plants is comprised of 27 Aspiral™ L3 units and 18 Aspiral™ L4 units, which will collectively serve over a dozen towns and rural townships in Anhui Province in China. This order follows the Memorandum of Understanding (“MoU”) signed with Kaitian in August of 2019 to satisfy the expected capacity needs of 40,000 m3 /day or more through the end of 2021. Subsequent to the successful installation of the Xeilingang project in Huoqiu County for Kaitian, this particular volume order will deliver a combined capacity of 8,100 m3/day of Class 1A effluent.
Fluence Achieves Financial Close for Ivory Coast Project
Melbourne, New York 8 January 2020
Fluence Corporation Limited (ASX: FLC) is pleased to announce that Financial Close on the €165 million (US$182 million) Ivory Coast water treatment plant (Project) has been achieved with the execution of the financing agreement by the Ministry of Finance of Ivory Coast (the Customer) and the Israeli Discount Bank (IDB). IDB was supported with export credit insurance from the Israeli Export Credit Agency ASHRA.
Following Financial Close, and upon meeting any outstanding conditions precedent, Fluence will start construction to fully erect and commission the 150,000 m3/day surface?water treatment plant over the next 24 months.
Having achieved Financial Close on the Project, Fluence Managing Director & CEO Henry Charrabé said: “We are very pleased to have reached this immensely important milestone for Fluence. The continued focus and cooperation with the teams from the Ministry of Finance and Ministry of Hydraulique in Ivory Coast, as well as with ASHRA and IDB, have allowed us to meet this objective. With planning work on the Project now largely completed, we can fully focus on moving towards construction commencement of this important turnkey water treatment plant.”
Achievement of Financial Close allows Fluence to immediately recognize no less than US$20 million (€18 million) of revenue for work that has already largely been completed. The delay in signing of the financing agreements may result in a short?term deferral of revenue that was expected to be recognized in 2019. However, there is a possibility that such revenue may still be able to be recognized, which would support Fluence’s ability to achieve an EBITDA positive quarter in Q4 2019.
Fluence achieves positive EBITDA in Q1; and expects to be cash flow positive in Q2
Quarterly Activities Report for Quarter Ended 31 March 2020 (Q1 2020)
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[Disclosure: I have held FLC shares in the past, but do not currently hold any. I'm interested again however - it sounds like they may be at an inflection point - moving into being a profitable company at last]
Business Update for Quarter Ended 31 December 2019 (Q4 2019)
FLC has a suite of decentralised waste water treatment and desalination technologies and is slowly winning global recognition.
FLC has successfully cracked the difficult Chinese market. The company also has significant projects in the Ivory Coast and Argentina.
The US is also looking at improving wastewater management and clean water technologies with legislative change.
I believe the snowball is tettering at the top of the hill and FLC may have identified managable solutions for global decentralised clean water technology.
Thus far FLC technology is proving to be reliable, effective and inexpensive to maintain!
Do your own research but the demand is coming! Can FLC successfully fill this demand and become profitable? Time will tell!
My money says yes, but please do your own due diligence!