Fluence’s MABR plant. Source: FLC.
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Fluence Corporation (FLC) lands its first operation and maintenance (O&M) contract in China, covering eight MABR wastewater treatment plants in Panjin City
  • The contract has an annual value of US$1 million (A$1.41 million)and is renewable in one-year increments
  • CEO and Managing Director Tom Pokorsky believes that Fluence was the “obvious and most reliable choice” for the operation and maintenance support
  • Fluence’s strategy is to steadily grow its recurring revenues by selling water and wastewater treatment as a service and securing ongoing parts and service revenues
  • FLC shares last traded at 23.5 cents on May 2

Fluence Corporation (FLC) landed its first operation and maintenance (O&M) contract in China, covering eight MABR wastewater treatment plants in Panjin City, Liaoning province.

The contract is renewable in one-year increments and has an annual value of US$1 million (A$1.41 million).

CEO and Managing Director Tom Pokorsky believes that Fluence was the “obvious and most reliable choice” for the operation and maintenance support.

“These initial plants represent less than 5 [per cent] of MABR capacity sold to date, so there is plenty of room for us to further grow this recurring revenue business both in China and for the substantial MABR capacity we have sold elsewhere.

“Nirobox plants are also perfect candidates for O&M services.”

Fluence’s strategy is to steadily grow its recurring revenues by selling water and wastewater treatment as a service rather than selling plants, and securing ongoing parts and service revenues including O&M contracts both on its existing and new plants.

The NIROBOX SW plant is a modular, high-output, membrane-based and efficient seawater desalination solution that offers pretreatment, reverse osmosis, and post treatment in a single, self-contained 40-foot shipping container.

The company will ensure the plants continue to meet China’s Class 1A wastewater treatment standard.

FLC shares last traded at 23.5 cents on May 2.

FLC by the numbers
More From The Market Online
The Market Online Video

Market Close: Autumn’s ASX200 record breaking start

The ASX200 has closed the first day of Autumn at a new record 7745.6 points -…
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.

Week 9 Wrap-up: ASX hits 2 new ATHs on US inflation + the headlines that mattered

What a week. As US markets continue to go crazy after the American earnings season (read: NVIDIA), the ASX has done the same. 
OBM

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…