Category: Investment, Water
MELBOURNE, Australia & NEW YORK - October 12, 2018 (www.waternewswire.com) Fluence Corporation Limited (ASX: FLC) is pleased to announce that it has signed today an exclusive partnership agreement with ITEST in central China, to supply Aspiral™ Smart Packaged wastewater treatment plants along the highway system under their scope.
ITEST is responsible for the engineering consultancy and supervision of the highway system in central China, including management of its wastewater treatment requirements. In July 2018, Fluence announced a sale to ITEST of an Aspiral™ 200 m3/day Smart Packaged wastewater treatment plant for a highway service area in China. This unit was shipped, delivered and installed within 6 weeks.
As a result of the successful execution of this project, ITEST will now promote and implement Aspiral™ for the wastewater treatment needs of other highway systems.
In accordance with the China Highway Construction Standards, every 50 km of highway require a service area, which has an estimated treatment capacity of 200-600 m3/day of influent flow of wastewater. The agreement anticipates that an estimated 80 Smart Packaged wastewater treatment plants comprised of Aspiral™ units will be needed in the coming 18 months.
Pursuant to the agreement, for ITEST to maintain the exclusivity, it needs to promote and implement a minimum volume of 66,000 m3/day to be delivered over the next three years with annual minimum targets. This volume, which is anticipated to be placed in accordance with the terms of this agreement, is equivalent to an estimated US$45 million. The first implementation under this partnership is expected to be booked and delivered before year-end. For so long as ITEST meets those minimum volumes, it will be granted exclusivity for the sale of Aspiral units to service highways in central China.
Fluence Managing Director and CEO Henry Charrabé added: "As our strategy in China starts to ramp up and deliver as we anticipated, we are pleased to be working with a confident and forward-thinking partner such as ITEST. This first large volume commitment to order Aspiral™ is further evidence that our systems are an ideal technology for the stringent requirements of Chinese rural wastewater treatment, and we will continue to target this market with this and other partners across the country, for various applications."
About Fluence Corporation Limited (ASX: FLC)
Fluence has experience operating in over 70 countries worldwide and employs more than 300 highly trained water professionals around the globe. The Company provides local, sustainable treatment and reuse solutions, while empowering businesses and communities worldwide to make the most of their water resources.
Fluence offers an integrated range of services across the complete water cycle, from early stage evaluation, through design and delivery to ongoing support and optimization of water related assets. With established operations in North America, South America, the Middle East and Europe, Fluence is also expanding into China’s rural wastewater treatment market.
Global consultancy Frost and Sullivan awarded Fluence Corporation "2018 Global Decentralized Water and Wastewater Treatment Company of the Year", noting in their award dissertation:
"While typical decentralized water treatment systems are relatively expensive, complicated, and inefficient, Fluence Corporation leverages innovative and smart technology solutions backed by decades of industrial know-how to excel in water and wastewater treatment solutions. Fluence’s excellence becomes apparent through its success, as the company continues to expand its existing offerings as well as partnerships with other prominent companies in the industry. With its easy to use, sustainable, smart and cost-effective solutions as well as a remarkable year of growth, innovation, and leadership, Fluence Corporation earns Frost & Sullivan’s 2018 Global Company of the Year Award in the decentralized water and wastewater treatment industry."
Further information can be found at https://www.fluencecorp.com/.
Fluence Corporation Limited
Henry Charrabé (USA)
Managing Director & CEO
P: +1 212 572 3766
Richard Irving (USA)
P: +1 408 382 9790
Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
P: +61 409 524 442
P: +61 400 009 774
P: +61 403 789 096
Investors & media (USA):
The Blueshirt Group
Gary Dvorchak, CFA
P: +1 323 240 5796 (US) or
+86 138 1079 1480 (China)
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