Fluence Secures US$50 Million BOOT Project Financing Facility
November 27 2018 - 5:51PM
Business Wire
- Non-recourse facility for project finance
around the world
- Will support pipeline of recurring revenue
projects
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.”
-ENDS-
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.”
Further information can be found at
https://www.fluencecorp.com/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181127005899/en/
Corporate:Henry CharrabéManaging Director & CEOE:
hcharrabe@fluencecorp.comP: +1-212-572-3766
Richard Irving (USA)Executive ChairmanE:
rirving@fluencecorp.comP: +1-408-382-9790
Ross Kennedy (Australia)Company Secretary & Advisor to the
BoardE: rkennedy@fluencecorp.comP: +61 409 524 442
Investors (Australia):Ronn BechlerMarket EyeE:
ronn.bechler@marketeye.com.auP: +61 400 009 774
Media (Australia):Tristan EverettMarket EyeE:
tristan.everett@marketeye.com.auP: +61 403 789 096
Investors & media (USA):Gary Dvorchak, CFAThe
Blueshirt GroupE: gary@blueshirtgroup.comP: +1-323-240-5796 (US)
or+86 138 1079 1480 (China)
Fluence (ASX:FLC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Fluence (ASX:FLC)
Historical Stock Chart
From Sep 2023 to Sep 2024