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Fluence Corporation (FLC)

Business description

Fluence is a global supplier of water and wastewater treatment solutions. Its decentralised products provide municipal customers with ‘plug and play’ solutions that are both quicker to deploy and substantially cheaper than traditional alternatives.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2016A 0.8 (8.8) (9.1) (4.27) N/A N/A
2017A 33.2 (23.6) (21.7) (7.00) N/A N/A
2018E 107.3 (13.4) (12.3) (2.52) N/A N/A
2019E 154.0 (2.0) (4.2) (0.77) N/A N/A

Last updated on 21/11/2018

Investment summary

Fluence has signed an agreement with an undisclosed US-based finance company for a $50m non-recourse debt facility specifically to fund the upfront build costs of custom projects. This pre-packaged source of funding accelerates its ability to secure and deliver these projects. On top of $23m net equity proceeds raised last month, it provides an additional source of financing for its expected growth.

Last updated on 30/11/2018

Industry outlook

Fluence’s ‘plug and play’ solutions can cost-effectively boost the performance of existing centralised treatment plants and address unserved, greenfield rural populations. Aspiral and SUBRE are based on a proprietary technology (MABR) that offers both superior treatment and lower energy costs. We see rising government spending on rural wastewater treatment in China as a particularly large opportunity.

Last updated on 29/11/2018

Key management

Henry Charrabe, CEO
Richard Irving, Executive Chairman

Company address

Level 3, 62 Lygon Street, Carlton
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