The annual report is quite a good read content wise except for...

The annual report is quite a good read content wise except for the $16m net loss part.

I think this will be coming into action in focus with the 3 amigos in full trottle.

Page 5 of AR, something new and not announced is Iowa. Hopefully it is a pilot plant that will lead to bigger sales.

“North America and the CaribbeanNorth America is by far the single largest water treatment market in the world. With the allocation of billions of dollars in new government funding, this market is expected to grow faster than ever. North America has typically been an underserved market for Fluence. In 2022, we added significant sales and technical support staff to develop the market in North America and the Caribbean. The Company also added more independent sales representatives who typically cover the municipal market. Fluence has increased our pipeline for municipal MABR systems, waste to energy projects for the meat packing industry, industrial water pretreatment for the food and beverage industry as well as multiple BOO projects for MABR and desalination in the Caribbean.

In the second half of 2022, the Company started gaining traction as we secured a MABR BOO project for a resort in Jamaica, multiple wastewater treatment plants for disaster relief from FEMA as well as an MABR project in Iowa. We expect significant growth in this area in 2023.”