Fluence Corporation Limited – Won First NIROBOX Recurring Revenue Desal Project

Fluence Corporation Limited (ASX:FLC) has secured a contract for the operation of the company’s first seawater desalination plant in the Bahamas and that will be starting within six months. According to the release, the contract with Rav Bahamas Limited is for the supply and installation of three smart packaged Fluence NIROBOX SW units at their Resorts World property which is located at North Bimini, Bahamas. Further, the NIROBOX units are already manufactured and will treat three million litres per day i.e., 800,000 gallons per day of seawater from a well intake and it will provide potable water for drinking, irrigation, and operations for the resort that includes the newly built Hilton hotel, the local homeowner’s association serving over 300 homes and condominiums, and the municipality of North Bimini. This is the first Build, Own, Operate & Transfer (BOOT) contract of the company in the Bahamas with the objective of rising recurring revenues for the company. Moreover, it will also provide the further opportunity to expand its operational wings into the hotels and resorts sector which has a tremendous opportunity because of several factors such as high reliability, lower energy consumption, low maintenance and small footprint. With this announcement, FLC’s stock climbed up 1.28 per cent with intra-day traded volume of around 487,736 before market close. It traded at $ 0.395 with the market-cap of circa $161.95 Mn as of July 16, 2018, 3:30 PM AEST.

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