Fluence to deliver a Wastewater treatment Plant to Yiyang City Government

Water Treatment solution company, Fluence Corporation Ltd (ASX: FLC) made an announcement on 13 December 2018 stating that it has executed a contract with partner Kaitian Environmental to deliver an Aspiral™ Smart Packaged wastewater treatment plant to the Yiyang City Government. Following this news, the share price of the company decreased by 2.778 percent as on 13 December 2018. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

The water treatment plant will have four Smart Packaged Aspiral™ L4 units which will treat 800 m3 per day of wastewater to Class 1A standards. As per the company’s announcement, this is the largest capacity Aspiral™ plant so far deployed in Hunan Province, and this plant will be commissioned as early as January 2019.

The company’s Aspiral™ wastewater treatment technology has been endorsed by the Yiyang City Government and as per Fluence’s Managing Director & CEO Mr. Henry Charrabé, this endorsement is a key milestone for the company’s growth in China. Further, this endorsement will also open the door for other provincial governments to adopt Aspiral™ as the standard solution for rural wastewater treatment.

Recently, the company secured the rights for designing, building and operating a seawater desalination plant in central Peru which will deliver a minimum of 1.1 million cubic meters of industrial-grade water per year for the WPA customer. The plant will be operational by the end of the seconds quarter of FY 2019.

The company has also secured a US$50mn non-recourse debt facility for project financing of Build, Own, Operate & Transfer (BOOT) projects which is going to enhance the company’s ability to close project finance contracts rapidly.  As per Fluence’s CFO, Mr. Francesco Fragoso, securing this facility was a major step forward for the company. Now the company can easily access the funding to do projects that utilize the company’s proven expertise in project execution.

Fluence is having over 300 highly trained water professionals around the globe, and the company is operating in more than 70 countries. Recently, the company completed its Share Purchase Plan (SPP), which raised $3.3 million from 393 Eligible Shareholders. The total amount raised through SPP will be used to support the company’s business growth in China, and it will also help the equity component of potential Build Own and Operate projects.

In the September quarter of 2018, the company earned a revenue of US$29.0 million which was 28% higher than Q2 2018. Further, the company reported EBITDA of US$0.5 million in the September quarter. As at 30 September 2018, the net cash used in operating activities was $12.911 million, net cash used in investing activities was $2.885 million and net cash used in financing activities $ 0.574 million. At the end of September quarter, Fluence was having cash and cash equivalents of $23.14 million.

Meanwhile, the share price of Fluence decreased by 13.25% in the last six months as on 12 December 2018. FLC’s shares traded at $0.350 with a market capitalization of circa $192.74 million as on 13 December 2018.


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