Audited Financial Report 31 December 2017
Melbourne, April 3, 2018 AEST (ABN Newswire) - The directors present their report for the consolidated entity consisting of Fluence Corporation Limited (
ASX:FLC) (EMFGF:OTCMKTS) (formerly Emefcy Group Limited) and the entities it controlled at the end of, or during, the year ended 31 December 2017. Throughout the report, the consolidated entity is referred to as the Group.
Multiple milestones achieved in 2017
During 2017, Emefcy Group Limited successfully undertook the acquisition of the RWL Water Group, with all acquisition-related integration activities completed to form Fluence Corporation Limited. This has enabled Fluence to expand the global reach and market opportunities for its key products: desalination, wastewater treatment and wastewater-to energy.
Notable successes include:
- Innovation drove new market opportunities, including the first SUBRE product contract awarded to upgrade a centralised wastewater treatment plant in Israel. SUBRE enables compliance with tighter nitrogen discharge rules without using hazardous chemicals, while also increasing plant capacity and increase target markets;
- The Group's Chinese subsidiary was incorporated and its manufacturing facility in Jiangsu Province is now operating. First production of MABR Modules was achieved in September 2017;
- Progress in China with the signing of a framework agreement with partner Jiangsu Jinzi Environmental Science and Technology Company. The agreement contemplates the delivery of six Containerized Smart Packaged wastewater treatment plants based on Fluence's MABR technology (C-MABR);
- Exclusive memorandum of understanding (MOU) signed with an African nation to design and construct an advanced water treatment plant;
- EUR1.5 million contract signed with VINCI Construction Grands Projects (France) to supply three NIROBOX(TM) containerized seawater desalination units for the island of Mayotte;
- US Virgin Islands MABR installation received approval from the US Environmental Protection Agency;
- US$1.7 million contract executed with Irotop S.A., a leading Ecuadorian fish processing company, to purify wastewater from its tuna and sardine processing and packing plants;
- Agreement executed with Stanford University to deploy, test for compliance with USA environmental regulations and measure the performance of Fluence's MABR wastewater treatment technology at Stanford's Codiga Resource Recovery Center. The MABR demonstration unit was commissioned in Q1 2018; and
- Awarded the "2018 Global Decentralized Water & Wastewater Treatment Company of the Year" by Frost and Sullivan who noted the key benefits of Fluence's modular, decentralised systems, such as lower operating cost, easier maintenance, and lower capital outlays.
To view the full report, please visit:
http://abnnewswire.net/lnk/20550A1F
About Fluence Corporation Ltd
Fluence Corporation (ASX:FLC) (OTCMKTS:EMFGF) is a leader in the decentralized water, wastewater and reuse treatment markets, with its Smart Products Solutions, including Aspiral, NIROBOX, NIROFLEX and SUBRE. 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, as well as Build Own Operate Transfer (BOOT) and other recurring revenue solutions. With established operations in North America, South America, the Middle East, Europe and China, Fluence has experience operating in over 70 countries worldwide and enables businesses and communities worldwide to maximize their water resources.
Further information can be found at https://www.fluencecorp.com/
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