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On December 20, 2018, Fluence Corporation (ASX:FLC) has made an announcement related to the contracts which the company has entered with regards to the partnership agreement with ITEST. As per the press release which was issued, the company had secured two contracts and, as a result of which, it would be supplying Aspiral⢠Smart Packaged wastewater treatment plants. Following the initial contracts which have been discussed, the company would be supplying Aspiral⢠Smart Packaged wastewater treatment plants to the thirteen sites. As per the press release, there are expectations that there would be 35 Aspiral⢠units which would be put to use so that varied capacity requirements can be seen with regards to individual sites. Out of the total 35 Aspiral⢠units which have been discussed, five would be of S1 models while thirty would be of L4 models. The company had also stated that it would be S1 typeâs first sale.
In the month of October 2018, the company had made an announcement regarding the partnership with ITEST. ITEST has plans to apply Aspiral⢠wastewater treatment solutions with regards to the Highway Service Centres which are located in the Hubei Province. Let us see what the management of the company has to say. The top management of the company reflected favorable views with regards to the orders. As per the management, the orders which the company has managed to secure happens to be a strong start.
Recently, the company had also made an announcement that it had managed to wrap up its share purchase plan which also witnessed the help from the shareholders. As a result of the share purchase plan, the company had raised $3.3 million. This capital has garnered the capital from 393 eligible shareholders. In the press release, the company had also stated the areas in which it plans to deploy this capital. The amount which has been garnered as a result of latest share placement as well as the share purchase plan amounting to $36.5 million are supportive to the FLCâs growth plans as it would be used for working capital purposes so that the growth prospects in the business with regards to China can be financed and it would be utilized for the businessâ general working capital. These funds would also be used for equity part with respect to Build Own and Operate projects. The top management of the company had stated favorable views with regards to support which has been extended by the shareholders (retail). Earlier, the company had released its quarterly report which covers data for the cash flows. In the September 2018 quarter, Fluence Corporationâs net cash which got used in the operating activities was US$12.9 million.
We will now see how FLCâs stock has performed in the past few months. The stock price is currently trading at A$0.335 per share with the market capitalization of around $177 million. Over the past six months, Fluence Corporation has delivered the return of -29.03%. However, in the previous three months, the stock posted -19.51% return.
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