In morning trade the Fluence Corporation Ltd (ASX: FLC) share price is racing higher.
At the time of writing the decentralised water, wastewater, and reuse treatment company’s shares are up 7.5% to 42 cents.
Why is the Fluence share price racing higher?
Investors have been buying Fluence’s shares this morning following the release of an announcement relating to its Aspiral product.
According to the announcement, Fluence has secured a follow-on Aspiral order from Aerospace Kaitian Environmental Technology Co with a value of more than US$3 million.
Shipments are expected to begin immediately and will extend into early 2020.
This first bulk order from Kaitian for a total of 15 wastewater treatment plants comprises 27 Aspiral L3 units and 18 Aspiral L4 units. Collectively, these will serve over a dozen towns and rural townships in the Anhui Province in China.
This order follows the memorandum of understanding signed with Kaitian in August to satisfy its expected capacity needs through to the end of 2021.
What is Aspiral?
Fluence’s Aspiral solution aims to remove a range of obstacles that have long stood in the way of small and medium-scale wastewater treatment worldwide.
Its high capacity, easy portability, agile scalability, and low energy requirements make high-quality wastewater treatment attainable in more places than ever before.
Fluence managing director and CEO, Henry Charrabé, was very pleased with the order.
He said: “Earlier this year, our partners at Kaitian were able to witness firsthand the efficient deployment and commissioning of a Fluence Aspiral project and the high-quality wastewater treatment of our MABR systems.”
“Repeat bulk orders from partners like Kaitian are a testament to the trust Fluence has gained in China and the efficacy of our Aspiral products, including quick construction, deployment and commissioning, as well as reliable ongoing performance and simple operations and maintenance. We are very pleased with the strong relationship we have been able to build with Kaitian and look forward to working on additional orders.”
The post Why the Fluence share price is racing higher on Monday appeared first on Motley Fool Australia.
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