– Non-recourse facility for project finance around the world
– Will support pipeline of recurring revenue projects
MELBOURNE, Australia & NEW YORK: Fluence Corporation Limited (ASX: FLC) is pleased to announce that it has secured a US $50.0 million non-recourse debt facility for project financing of Build, Own, Operate & Transfer (BOOT) projects. The facility is provided by a leading US-based sustainable infrastructure investment firm with extensive experience in financing infrastructure and renewable energy projects. Fluence will have access to this facility on a project-by-project basis for 3 years for BOOT projects around the globe. The facility enhances Fluence’s ability to close project finance contracts rapidly, which will further increase Fluence’s commitment to building a pipeline of recurring revenue projects. Most notably, this single facility may be deployed across projects in different geographies, thus substantially streamlining one of the time-consuming steps in project development.
Commenting on the new debt facility, Fluence CFO Francesco Fragasso said: “This is a major step forward for Fluence, which will now have readily available access to the funding needed to undertake projects that utilize our proven expertise in project execution, particularly for our fleet of smart packaged systems. The recurring revenue from these projects will further strengthen our balance sheet, reduce our cash investments, and allow us to continue to focus on the growth strategy for our products and solutions. Lastly, this facility provides a path to realizing our often-stated goal to drive growth for recurring revenues.”
About Fluence Corporation Limited (ASX: FLC)
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 established operations in North America, South America, the Middle East and Europe, Fluence is also expanding into China’s rural wastewater treatment market.
Global consultancy Frost and Sullivan awarded Fluence Corporation “2018 Global Decentralized Water and Wastewater Treatment Company of the Year”, noting in their award dissertation:
“While typical decentralized water treatment systems are relatively expensive, complicated, and inefficient, Fluence Corporation leverages innovative and smart technology solutions backed by decades of industrial know-how to excel in water and wastewater treatment solutions. Fluence’s excellence becomes apparent through its success, as the company continues to expand its existing offerings as well as partnerships with other prominent companies in the industry. With its easy to use, sustainable, smart and cost-effective solutions as well as a remarkable year of growth, innovation, and leadership, Fluence Corporation earns Frost & Sullivan’s 2018 Global Company of the Year Award in the decentralized water and wastewater treatment industry.”