SQ and IC were legacy deals from RWL days ... I think they knew the risks involved and based on Nirobox's lack of traction to date, the merger was a no-brainer for RWL...
It is very obvious that post-merger, Fluence as a group has given China 110% focus and capital investment .. they wouldn't have achieved what they have thus far in China without doing so... the big leaps forwards are yet to come, but the groundwork is already proving to be successful and yielding multi-year partnerships.
You can also see how they have segregated their business lines and revenue streams... SPS revenue is front and centre and their clear path forward.. the revenue mix is clearly skewed to SPS revenue in future years.. that is a reflection of where their capital is being invested at the moment.
Having said that, they can't let go of their legacy business as it will still yield a profit.. but more importantly it will raise Fluence's global profile and awareness, which can only help SPS sales.
I haven't invested in FLC for a 12 or 24 month period.. this company has the potential to be a blue-chip on the ASX in the 2020's ... clean/usable water is only going to become more valuable as time goes by, that I am certain of.
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