Tech: Fluence gets a €165m loan to build a water treatment plant in Africa

While many of the ASX’s water treament small caps are targeting China, Fluence Corporation (ASX:FLC) is also targeting Africa — specifically Cote d’Ivoire, among other markets.

Cote d’Ivoire has a population almost the same size as Australia, 24 million, and has faced water problems for years, particularly in rural areas.

This morning Fluence announced the securing of a €165m ($268m) loan to build a water treatment plant in the West African country.

Fluence’s plant will take 24 months to build and when complete will process 150,000 cubic metres per day (150 million litres).

Shares climbed 6 per cent this morning and are 33 per cent higher than a year ago.

Fluence’s signature solution is biofilms – which are micro-organisms able to break down undesirable compounds.

It is also building a desalination plant in Brazil, which according to the company will be the largest in the nation. Additionally, it is currently fulfilling orders for its products in China.

CEO Henry Charrabe told shareholders this was “an immensely important milestone”, noting that planning was complete and construction could begin soon.

In other ASX tech news today:

Buddy Technologies (ASX:BUD) launched a new range of smart lights at the Consumer Electronics Show in Las Vegas. It anticipates some of these becoming available to consumers from northern spring 2020.

The LIFX Filament White smart light (Pic: Buddy Technologies)

Wealth management platform Powerwrap (ASX:PWL) is teaming up with Melbourne-based Wattle Partners. Powerwrap will provide Wattle’s clients with platform administration and reporting services.