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Fluence Corporation (ASX:FLC) has won a US$12 million contract to supply an ultrapure water treatment system for a combined-cycle power plant in Saudi Arabia, with the development expected to run to 2027.
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Australian investors clearly liked the $12M deal – the company’s share price has since barrelled as much as +17% higher through Tuesday trade, even managing to defy what has been a rough red day for much of the wider bourse.
In the deal, Fluence agreed to deliver the solution to Technicas Reunidas, which will be overseeing the construction of the power plant over the next few years.
Work on the project is expected to begin immediately, the water treatment company confirmed today, with most of the system to be completed in 2026. Commissioning and start-up are being targeted for sometime early 2027.
“We’re excited for this opportunity to support our client in providing our solutions for an industrial, ultra-pure application for the power industry,” company managing director Tom Pokorsky told the market.
The contract reflects just how quickly the company is expanding in the Middle East, as well as its commitments to sharing reliable water treatments with clients.
“Consistent with our One Fluence global strategy, we will be leveraging the combined strength of our Municipal Water and Wastewater team in the Middle East and our Industrial Water and Reuse team in Argentina to ensure seamless project execution and delivery of a high-quality equipment solution,” he said.
Up to lunchtime, FLC shares have been selling at 11c each.
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