Ann: Appendix 4C - Quarterly, page-29

After contacting their IR people for months and requesting some sort of update for us shareholders, even an email newsletter, and not once receiving a reply, guess what I see in my inbox this morning?

inFluence Newsletter - November 4, 2024

Not a lot new, but maybe they realise they actually need to keep us shareholders happy with some information (because the SP certainly isn't doing the job).

Fluence Corporation Newsletter

Our team has been hard at work, and we’re excited to fill you in on what we’ve accomplished over the past few months. Take a look at what we’ve been up to and stay tuned for more in the coming months. We just released our Q3 results. Here are a few highlights. Year-to-date, revenue reached $30.3M and we are poised to close the year with an even stronger H2. We continue to discuss terms with the Ivory Coast government for an Operations and Maintenance contract on the new water treatment plant and we are well-positioned to close in the near future. Recurring revenue increased by 13% to $29.1M, while new orders grew to $40.5M, with notable growth of 21% in key sectors (Municipal Water and Wastewater, Industrial Water and Reuse, and Industrial Wastewater and Biogas). Gross margins improved to 31.8%, a 5.5% rise from last year, and backlog stands at $101.8M, with $70.2M expected to be recognized within 12 months. Operational savings include SG&A and R&D cuts, totaling $3.1M (20%) and $0.7M (12%), respectively. Read more on our site. Fluence Advances Industrial Wastewater and Biogas Growth Initiative in the USA Fluence has recently closed two critical contracts in the USA demonstrating the increasing success of its growth initiative in this rapidly expanding industrial market. One contract was for a Tipton extended aeration and filtration treatment plant for a global insulation manufacturer in New York. The other contract was for an industrial wastewater pre-treatment facility for a large grocery chain in the United States that included a secondary wastewater treatment process at one of the company's dairy production facilities. New Contract with Itest Shiwu North Installation-2 in China The Itest-Shiwu North Installation project, situated along the Wuhan to Chongqing Highway at the Hanchuan to Tianman section, is designed to manage a total capacity of 230 m³/d. The Aspiral™ project includes two Aspiral™ Micro units at Ganyi Toll Gate and Tianman East Toll Gate, one Aspiral™ R50 PLUS unit at Mawan Toll Station, and two Aspiral™ L4 units at Tianman East Service Station. New Contract with Itest Wusong Highway Xianhong Section in China The Itest-Wusong Highway Xianhong Section project is designed to handle a substantial wastewater flow with a capacity of 245 m³/h. The Aspiral™ project includes: two Aspiral™ Micro units in Huangjiakuo, Xiliuhe, and Yanglinwei Toll Gates, one Aspiral™ R30 PLUS unit at Pengchang Toll Station, and two Aspiral™ R100 units at both the Xiliuhe North Service Station and South Station. Five Aspiral™Micro Pro Units Sold to Lishui, Zhejiang Province Fluence has won a project to deliver five Aspiral™ Micro Pro wastewater treatment units to Jingning County, Lishui City, Zhejiang Province, with a total capacity of 100 m³/d. Since its launch in 2023, 55 Aspiral™ Micro units have been sold in China, addressing the high demand for 10-20 m³/d systems in rural areas like Nantong, Lishui, and Tonglu. Variation Order in Egypt Suez Steel in Egypt has placed a variation order for modifications. The project, based in El Suez, Egypt, involves adjustments to the production line with a capacity of 9,600 m³/d. Specifically, the modifications will focus on the product line (720 mm) and the feed line (800 mm). Plant Rehabilition in Egypt Taba for Tourism Development has commissioned Fluence to complete a project to rehabilitate an existing treatment plant. The facility has a capacity of 1,200 m³/d and is located in South Sinai, Egypt. New Contract in Saudia Arabia MIDAD Oilfield Services, based in Saudi Arabia, has purchased an Aspiral™ U30 with a capacity of 30 m³/d. Notably, this is the fourth package ordered for the end user, Saudi Aramco. This project and growing relationships with our partners in Saudi Arabia further demonstrate the advancement of Fluence’s growth initiative in Saudi Arabia. 25,000 m³/d Upgrade for Handan Wastewater Treatment Plant in China Complete Fluence has completed a significant upgrade at the Handan Wastewater Treatment Plant, raising its treated effluent quality to the stringent Class IV surface water standard. The plant, with a 25,000 m³/d capacity, expandable to 50,000 m³/d, now includes Fluence’s Membrane Aerated Biofilm Reactor (MABR) technology. This innovation enhances nitrogen removal while reducing energy consumption, underscoring Fluence’s commitment to sustainable, high-quality wastewater treatment in the Handan region. This is the second 25,000 m³/d upgrade plant Fluence has in Heibei province, China Successful Project Completion in Brazil We successfully launched a 770 g/h ozone generation system for Femsa in Itabirito, Brazil. This system is part of the tertiary treatment process for reusing wastewater in their service area. Aspiral™ M1 for JV Arab Contractors Started Commissioning JV Arab Contractors in Tanzania had purchased an Aspiral™ M1 with a capacity of 130 m³/d. The project is set to begin commissioning this month, marking an important milestone in its development. Water Treatment Plant for Elsewedy Electric PSP Started Commissioning The slow filtration water treatment plant with a capacity of 154.1 m³/d, sold to Elsewedy Electric PSP in Tanzania, is set to begin commissioning this month. Advanced Water Reuse System Delivered to Baoding Reclaimed Water Treatment Plant in Taiwan Fluence has delivered a Niroflex BWRO UF/RO system with a capacity of 40,000 m³/d to Taobei Baoding Reclaimed Water in Taiwan. This project is the largest BWRO (brackish water reverse osmosis) project for Fluence, reclaiming treated effluent from municipal sewage wastewater for beneficial industrial use. This project is part of Fluence’s growing strategic initiative to penetrate the rapidly growing semiconductor and data center market that is an excellent fit for Fluence’s advanced technology solutions. First Phase Complete for Shexian Wastewater Treatment Plant Upgrade We’re excited to announce the successful completion of the first phase of the 25,000 m³/d installation using MABR technology at the Shexian Jingyuan Wastewater Treatment Plant in Hebei Province This project is one of our largest capacity and standard upgrades in China, enhancing the plant's efficiency and elevating effluent quality to Surface Water Class IV. Through innovative MABR technology, we’ve optimized treatment without needing to expand the facility, ensuring top-notch results in line with China’s water quality initiatives. Fluence Visits Pilot Flying J Truck Stop in New Mexico Members of our Fluence team recently visited an Aspiral™ M1+ installation for a Pilot Flying J truck stop in Albuquerque, New Mexico. The unit treats 10,000 GPD of highly concentrated influent for safe discharge. The customer opted for the containerized MABR solution for its high nutrient removal and cost effective set up in the face of harsh desert weather conditions, which experiences cold nights and strong winds. Following this successful installation, the customer has placed orders for additional units at nearby locations. Fluence Attends WEFTEC in New Orleans on October 6-9 The annual WEFTEC conference and tradeshow, the largest water conference in North America, was a huge success. Our team welcomed visitors to our booth, presented, made good connections, and enjoyed the southern hospitality. Fluence Attends Aquatech Mexico The Fluence team recently attended the Aquatech Mexico Show. Ivory Coast Update This month, Rick Cisterna, Chief Commercial Officer at Fluence Corporation, visited the Ivory Coast and met with several top government officials, including the Minister of Hydraulics. The Minister reaffirmed the Government’s long standing and ongoing relationship with Fluence to collaborate on future advanced treatment projects, including an operations and maintenance contract for the 150,000 m³/d water treatment plant.