Media update, page-818

Refer to @Dungiven post:

"In addition, Emefcy has selected a number of other senior advisors who bring strong existing relationships with a number of state-owned enterprises, local and provincial governments, and significant experience in managing public-private partnerships. All of these advisors have extensive experience building commercial relationships, negotiating with government and the water sector, and have prior senior leadership experience with a Fortune 20 company, offering industrial products including wastewater treatment systems. Together they understand how central government mandates are deployed to provincial governments as well as public-private partnership structures for infrastructure projects including water treatment."

I would say he is one of many advisors in China, and he is probably the most influential one with extensive experiences as well as good relationship with SOEs/governments. Doing business in China is quite different to the western countries, the Fluence/Emefcy team were fully aware of this and that was why hired them before they enter the Chinese markets and now they have a local Chinese team with both engineering and sales employees. Now it comes to the decision how they chose the Chinese partnerships, I believe they have carefully chosen the right partner when entering the Chinese markets, from my understanding they chose Wuxi Guolian as the partner because they could provide their own water quality certification in a shorter timeframe, and they choose small to mid size less established players, like Snorichen Jinzi and QSY, because a win-win situation could be created for both sides, rather than partnering with big companies like Origin Water, Beijing Enterprise Water Group, where the deals would be one side and increasing risks of MABR technology getting copied as they have better capability to do so. CGGC is big in water engineering and construction but still relatively new in wastewater treatment space, they have just created their subsidiary CGGC water operation group last year, so things might not move as fast as we think of. The key requirement for Chinese partners to buy MASS C-MABR units, is Chinese partners needs to win big PPP contract first before they can buy in big numbers,