Hi EB, I agree with you. If Ron really wants to turn FLC into a $500m a year company, (see his interview here : https://www.wateronline.com/doc/a-billion-reasons-to-invest-in-water-0001), then Henry must be careful not to stress the balance sheet with excess debt. Best to be just an equipment and service provider as you said.
In meantime, a short article on desalination dated 8th March 2019.
https://www.bloomberg.com/news/articles/2019-03-07/why-making-seawater-drinkable-doesn-t-thrill-everyone-quicktake
"Governments and companies spend as much as $14 billion a year to make ocean and brackish water drinkable." I think the momentum is hard to stop, especially since the cost of desalination has been coming down. Countries on the African continent can now afford it.
Media Update, page-537
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