Fluence secures funds ahead of potential US listing
Published August 10th, 2017
Just months after RWL Water listed on the Australian Stock Exchange by merging with Emefcy, the decentralised water solutions provider – renamed Fluence Corporation – this week secured a further US$11 million of equity funding.
The lead investor is understood to be a large US institutional client with past investment experience in the water technology sector.
“This shifts the share register towards North America, which was one of our goals, and I would say almost half [of our share capital] is now North America,” commented Fluence’s CEO Henry Charrabé.
With a market capitalisation in excess of A$300 million, Fluence is already a candidate for inclusion in the ASX300 index, and Charrabé indicated that a US listing could be on the cards further down the line.
“As we continue to grow, that is hopefully something that we would look into in a couple of years’ time, as a dual listing,” he told GWI.