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Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

Fluence has signed an agreement with an undisclosed US-based finance company for a $50m non-recourse debt facility specifically to fund the upfront build costs of custom projects. This pre-packaged source of funding accelerates its ability to secure and deliver these projects. On top of $23m net equity proceeds raised last month, it provides an additional source of financing for its expected growth.

Fluence has signed an agreement with an undisclosed US-based finance company for a $50m non-recourse debt facility specifically to fund the upfront build costs of custom projects. This pre-packaged source of funding accelerates its ability to secure and deliver these projects. On top of $23m net equity proceeds raised last month, it provides an additional source of financing for its expected growth.

Fluence Corporation  - Debt facility in place for custom projects

Q3 saw Fluence delivering on expectations. It signed its first multiproduct Aspiral deal in China ($45m), reported in-line revenue (up 140% y-o-y) and held FY18 gross profit guidance. An equity offer raising c $23m (net) should address any funding concerns. Capital raising aside, our forecasts are unchanged; the company still has to deliver a strong Q4, but following the China deal, confidence in the long-term story should be growing.

Q3 saw Fluence delivering on expectations. It signed its first multiproduct Aspiral deal in China ($45m), reported in-line revenue (up 140% y-o-y) and held FY18 gross profit guidance. An equity offer raising c $23m (net) should address any funding concerns. Capital raising aside, our forecasts are unchanged; the company still has to deliver a strong Q4, but following the China deal, confidence in the long-term story should be growing.

Fluence Corporation  - Delivering on expectations

Fluence has secured a deal for its Aspiral product in China that should generate at least US$45m in revenue over the next three years. This deal is significant as, aside from the financial benefit, it demonstrates the size of the opportunity for Aspiral in China. Greater investor confidence in Fluence’s prospects here could drive a sharp re-rating of the shares, in our view. We make no changes to numbers now but will review estimates after the Q3 trading statement.

Fluence has secured a deal for its Aspiral product in China that should generate at least US$45m in revenue over the next three years. This deal is significant as, aside from the financial benefit, it demonstrates the size of the opportunity for Aspiral in China. Greater investor confidence in Fluence’s prospects here could drive a sharp re-rating of the shares, in our view. We make no changes to numbers now but will review estimates after the Q3 trading statement.

Fluence Corporation  - China Contract catalyst?

Australia

Fluence Corporation Limited provides water treatment systems. The Company offers filters pre-treatment, energy-recovery devices, clean-in-place systems, packaged plants, and aeration equipment, as well as project financing services. Fluence serves small communities, schools, malls, resorts, hotels, golf courses, construction sites, and commercial centers worldwide.

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Fluence Corp (FLC AU)

Fluence Corporation - Debt facility in place for custom projects

Fluence has signed an agreement with an undisclosed US-based finance company for a $50m non-recourse debt facility specifically to fund the upfront...

Edison Investment Research

Fluence Corporation - Delivering on expectations

Q3 saw Fluence delivering on expectations. It signed its first multiproduct Aspiral deal in China ($45m), reported in-line revenue (up 140% y-o-y)...

Edison Investment Research

Fluence Corporation - China Contract catalyst?

Fluence has secured a deal for its Aspiral product in China that should generate at least US$45m in revenue over the next three years. This deal is...

Edison Investment Research

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