Fluence offers decentralized, cost-effective, quick-to-deploy water and wastewater treatment solutions to clients worldwide, bringing leading-edge treatment technology to companies and communities.New York, July 17, 2017 AEST (ABN Newswire) - Emefcy Group Limited (ASX:EMC) (OTCMKTS:EMFGF) ("Emefcy") and RWL Water LLC have completed their definitive merger agreement effective July 14, 2017 to form Fluence Corporation Limited ("Fluence") (ASX:FLC), bringing together breakthrough technologies and proven delivery platforms to optimize treatment solutions for the water cycle for the 21st century. Fluence's products will address all segments of the water value chain, from desalination to wastewater treatment and waste-to-energy, making it the world's most comprehensive distributed water services firm.
Fluence provides local and sustainable treatment and reuse solutions, empowering businesses and communities worldwide to make the most of their water resources. Fluence offers compelling economic advantages with fully functional turnkey solutions that bring together proprietary technology with acceleration of deployment and commissioning of new plants, an important benefit for the establishment of rural wastewater treatment facilities in China and other parts of the developing world.
"The combination of complementary decentralized and packaged water and wastewater treatment solutions is paving the way for Fluence to emerge as the leading global provider of innovative water and wastewater solutions serving municipal, industrial and commercial markets," said Henry Charrabe, Chief Executive Officer of Fluence. "In pairing RWL Water's proven execution capabilities and standardized solutions with Emefcy's breakthrough technologies, Fluence operates at the forefront of the movement that is solving the world's most pressing water challenges."
RWL Water is recognized as one of the fastest growing water solutions companies in the world, with more than 7,000 references and customers in more than 70 countries around the world. Fluence will continue to serve and support all existing RWL Water and Emefcy customers while bringing Emefcy's breakthrough wastewater treatment technology to new clients across the globe and working with channel partners and integrators.
"The distributed treatment model grants rural and remote communities in developing regions the access to clean water and sanitation they deserve, at a price they can afford, while also offering a compelling model to the developed world," stated Richard Irving, Executive Chairman of Fluence. "The merger will substantially accelerate Emefcy's deployment in China and other key markets while making significant operational and distribution gains. Integrating Emefcy and RWL Water products and systems will contribute to continued revenue growth, improving gross margins and expanding recurring revenue streams."
Fluence employs over 300 experienced and dedicated water professionals. Headquartered in New York, operating and regional entities are located around the globe, including the United States, China, Australia, Mexico, Argentina, Brazil, Italy, France, Israel and Dubai.
Management and Governance
Henry Charrabe, President and Chief Executive Officer of RWL Water, and Philippe Laval, Chief Operating Officer of RWL Water, are appointed CEO and COO of Fluence, respectively. Eytan Levy, co-Founder and CEO of Emefcy, and Ronen Schechter, co-Founder of Emefcy, are appointed as President - Products & Innovation and Chief Technology Officer of Fluence, respectively. Bob Wowk, currently CFO of RWL Water, is appointed Chief Financial Officer of Fluence. Ross Kennedy is continuing as Company Secretary.
The Fluence board consists of seven directors. The current five members of Emefcy Group Limited - Richard Irving, Eytan Levy, Ross Haghighat, Peter Marks and Robert Wale - remain on the combined company Board. Mr. Charrabe joins the Board as Managing Director, as does Dr. Rengarajan Ramesh, former CTO of GE Water and a current RWL Water Board member.
Any forward-looking statements in this announcement are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management.
About Fluence Corporation
Formed in 2017 following the consolidation of independent water treatment solution providers Emefcy and RWL Water, Fluence Corporation was established with the vision of becoming the leading global provider of fast-to-deploy decentralized and packaged water and wastewater treatment solutions. With over 300 highly-trained water professionals with experience operating in 70 countries, Fluence provides local and 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 core operations in North America, South America, the Middle East and Europe, one of Fluence's main current focuses is expanding into the vast Chinese market for rural wastewater treatment. For more information, please visit: http://www.fluencecorp.com
About Fluence Corporation Ltd
Fluence Corporation’s (ASX:FLC) (OTCMKTS:EMFGF) vision is to become a leading global provider of fast-to-deploy decentralised and packaged water and wastewater treatment solutions, already an estimated A$17 billion market in 2016, excluding the China rural market opportunity. 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 core operations in North America, South America, the Middle East and Europe, one of Fluence’s main focuses is expanding into the vast market in China for rural wastewater treatment.
For more information please visit our website: http://www.fluencecorp.com
Fluence Corporation Ltd