Fluence Corp Ltd has secured a US$50 million non-recourse debt facility for project financing of build, own, operate & transfer (BOOT) projects from a US-based sustainable infrastructure investment firm.
The water treatment solution provider will have access to this facility on a project-by-project basis for three years for BOOT projects worldwide.
“This is a major step forward for Fluence, which will now have readily available access to the funding needed to undertake projects that utilize our proven expertise in project execution, particularly for our fleet of smart packaged systems,” said Fluence CFO Francesco Fragasso. “The recurring revenue from these projects will further strengthen our balance sheet, reduce our cash investments, and allow us to continue to focus on the growth strategy for our products and solutions. Lastly, this facility provides a path to realizing our often-stated goal to drive growth for recurring revenues.”
Fluence, which was formed last year with the merger of Emefcy Group Ltd and RWL Water LLC, recently raised A$33.1 million in a share placement.