San Quintin Project Commences Construction
September 30 2018 - 7:05PM
Business Wire
Fluence Corporation Limited (ASX: FLC) is pleased to announce
that construction has commenced on the desalination plant in San
Quintin, Baja California, Mexico.
This project, as previously disclosed, is designed to supply 5.8
million gallons/day (approximately 22,000 m3/day) of potable water
to the San Quintin region. Fluence will recognise revenue over the
20-month expected term of the project, starting in the third
quarter of 2018, as well as an estimated US$10 million of recurring
billings for 30 years after the plant begins operating.
This milestone project for customer Comisión Estatal del Agua De
Baja California (CEA), the State Water Commission of Baja
California, is the first non-recourse project funding arranged by
Fluence. Fluence will build and operate the seawater desalination
plant through a Special Purpose Vehicle (SPV) owned by Fluence and
its local partners. The SPV will produce water for the San Quintin
area for the next 30 years, after which ownership and operation of
the plant will be transferred to CEA.
Fluence Managing Director & CEO Henry Charrabé said: “We are
pleased to reach this important milestone and commence construction
on the San Quintin Project. This project showcases the exceptional
project execution abilities of Fluence’s expert team. Reaching
commencement now allows Fluence to start recognising significant
revenue linked to the project, for which we have already incurred
engineering and management costs. We look forward to delivering
urgently needed fresh water to the San Quintin region by 2021.”
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/.
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version on businesswire.com: https://www.businesswire.com/news/home/20180930005041/en/
Corporate:Fluence Corporation LimitedHenry Charrabé, +1
212-572-3766Managing Director &
CEOhcharrabe@fluencecorp.comorRichard Irving (USA), +1
408-382-9790Executive Chairmanrirving@fluencecorp.comorRoss Kennedy
(Australia), +61 409 524 442Company Secretary & Advisor to the
Boardrkennedy@fluencecorp.comorInvestors (Australia):Market
EyeRonn Bechler, +61 400 009
774ronn.bechler@marketeye.com.auorMedia (Australia):Market
EyeTristan Everett, +61 403 789
096tristan.everett@marketeye.com.auorInvestors & media
(USA):The Blueshirt GroupGary Dvorchak, CFA, +1 323 240 5796
(US)+86 138 1079 1480 (China)gary@blueshirtgroup.com
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