Good news on the sales front today from Fluence... as a long-term RL holder (underwater), looking forward to more of these!  More competition starting to appear in this space and FLC has been unable to take advantage of being in early, hopefully they can ride the next wave.

Fluence Secures US$8.5M MABR Order in Cambodia

• Largest MABR plant to date will treat wastewater for 160,000 people

• Due to commence operation in H1 2022

• Third MABR plant in Cambodia

• X-WATER to be Fluence’s exclusive partner in Cambodia

  Fluence Corporation (ASX:FLC) is pleased to announce that it has won an US $8.5M contract from the Cambodian Government’s Ministry of Land Management, Urban Planning and Construction, to build a third SUBRE plant using MABR technology in Sihanoukville, Cambodia. The SUBRE plant will consist of 90 three-tier MABR stacks, each consisting of three MABR spirals in a tower configuration, treating wastewater for a population of 160,000. Fluence will again team with engineering partner X-WATER, following successful collaborations on the first two SUBRE plants now operating successfully in Sihanoukville. These initial plants are the first biological treatment plants of any kind in Cambodia.

Q2 2021 Summary

• Strong Revenue Growth – Revenue of $27.2M up 49% over Q1 2021 and 169% over Q2 2020. China revenues for Q2 2021 up 48% on Q2 2020. SPS revenues of $7.8M in Q2 2021.

• Continued strong adoption of MABR Smart Products Solutions – 15 MABR plants sold in Q2 2021 and 34 year to date, bringing the total sold worldwide to 281.

• Backlog1 Strong - $175M contracted backlog of which SPS backlog is $18.7M, showing strong SPS momentum

• Cost Out Improvement - Continued operating efficiency gains ? operating expenses down 7% for 1H 2021 versus 1H 2020.

• EBITDA positive in Q2 2021

• Cash Flow Positive – Operating cash flow positive of $13.0M.

• Net Cash Position - cash balance of $23.7M, as well as $38.4M in short and long-term liquid investments.

Q2 2021 Commentary

Reflecting on Q2 2021 and the outlook for the remainder of FY 2021, Fluence Chairman and Chief Executive Officer Richard Irving, said:

“COVID-19 related travel quarantines slowed down face?to?face meetings, plant commissioning and new orders. Despite these factors, we are very pleased with this quarter’s results and our quarter?on?quarter and year?on?year growth. We remain on track to deliver guidance for the year. With 281 MABR plants sold we are the clear leader globally with this technology which we believe provides the most cost-efficient and energy-efficient way to achieve high quality wastewater treatment. We see continued evidence that countries are setting and enforcing much higher standards of wastewater treatment for which our MABR is an ideal solution. We also see a continued trend towards decentralized treatment, for which our AspiralTM and NiroboxTM solutions are a perfect fit due to their neighbourhood-friendly, automated, low maintenance operation. Meanwhile we continue to execute the Ivory Coast Project which remains on target for completion in early 2023.”