The Fluence Corporation (ASX: FLC) share price is up today after it shared 3 pieces of positive news.

Fluence announced it has received 2 separate orders from large state-owned enterprises in China and a US$2.4 million contract to supply 3 NIROBOX water treatment units in Taiwan. All up, the orders are worth US$4.6 million, with the supplier of wastewater and reuse treatment products predicting follow-on business.

At the time of writing, the Fluence share price is up by 11.9%, trading at 23.5 cents.

Let's take a closer look at Fluence's announcements.

What's driving the Fluence share price today?

First volume order from Three Gorges

Fluence has received its first volume contract for the Yangtze River Great Protection Program, managed by China Three Gorges Group Corporation, worth a total of US$2.2 million.

The order consists of 29 of Fluence's Aspiral MABR wastewater treatment products, to be implemented in 14 townships in the Hunan province.

China Rail Order

Fluence has also been awarded another contract by Beijing China Railway Science New Technology Co Ltd, a subsidiary of China Academy of Railway Sciences Cooperation Limited, known as China Rail.

This is the first wastewater reuse project in China for the company. It's worth US$28,000 and includes 2 Aspiral Micro wastewater treatment units. The Aspiral Micro units were chosen for their ability to treat wastewater to irrigation quality.

The company states that wastewater reuse is a key part of China's current five-year plan.  

NIROBOX order in Taiwan

Finally, the company announced it has received a US$2.4 million contract to supply 3 NIROBOX units to drought-stricken Taiwan.

The contract is expected to begin in May. Fluence's units will be placed to convert seawater into drinking water for 30,000 people in central Taiwan.

According to the company, it was awarded the contract because it was able to provide a proven product with a quick turnaround.

Fluence stated its partner, ADE Corporation, facilitated the order from Taiwan's Water Resources Agency.

What did management have to say?

Fluence CEO Richard Irving welcomed the news, saying:

Reuse is a major strategic target for Fluence given MABR's competitiveness in meeting the required standards to reuse treated wastewater. Importantly, China's latest five-year plan (2020-2025) for the first time specifies wastewater reuse targets ranging from 25%–35% in water-stressed regions which is anticipated to require significant deployment of new and upgraded treatment.

Based on China Ministry of Housing Data, this represents a US$4 billion market opportunity over the next 4 years assuming new or upgraded treatment is needed to achieve these targets.

Mr Irving went on to discuss the order for Taiwan, saying the company was pleased to continue working with long-term partner ADE Corporation to secure the order.

We anticipate that local drought conditions, combined with increased demand for smart, automated, decentralized solutions, will lead to further business in Taiwan and the region.

Fluence share price snapshot

Today's news comes at a perfect time for the Fluence share price, which is having a poor year on the ASX. While it is up by 6.82% year to date, it's down 24.19% over the last 12 months.

Fluence has a market capitalisation of around $131 million, with approximately 624 million shares outstanding.

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The Fluence Corporation Ltd (ASX: FLC) share price is up 10% in late afternoon trading. That puts the company in the enviable position of being among the biggest gains posted on the All Ordinaries Index (ASX: XAO) today, with the All Ords down 1.8%.

The share price surge comes following today's update on the company's Ivory Coast water treatment project. And it will come as welcome news to shareholders who've watched the share price slide for much of the year.

With today's gains, the Fluence share price is down 50% year-to-date. That compares to a 10% loss for the All Ords.

What does Fluence do?

Fluence is involved in the decentralised water, wastewater and reuse treatment markets. Its smart products solutions include Aspira, NIROBO and SUBRE. The company's range of services range from early stage evaluation to design and delivery through to ongoing support and optimisation of water related assets. Fluence operates in 70 countries, with established operations in North America, South America, the Middle East, Europe and China. It aims to help businesses and communities make the most of their water resources.

Why did the Fluence share price leap higher?

Fluence announced that the Israel Discount Bank had confirmed the final conditions precedent for the 165 million euro (AU$275 million) Ivory Coast water treatment plant. The Ivory Coast finance facility will now begin funding contractual payments to Fluence for the plant.

Fluence plans to start construction immediately. The surface water treatment plant will be capable of treating 150,000 cubic metres of water daily. It will treat contaminated water from Lagune Aghein, the biggest freshwater reserve in Ivory Coast, helping to supply fresh water to Abidjan, the nation's most populous city.

Commenting on the news, Fluence CEO Henry Charrabe said:

Despite challenging logistics and COVID-19 related delays, we are very pleased to have been able to meet this key milestone to progress the Ivory Coast Project and to officially commence construction. This is an immensely important project for the people of Ivory Coast, and we look forward to now fully mobilising.

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The Fluence Corporation Ltd (ASX: FLC) share price soared 20% higher today after announcing a positive operating cash flow for the quarter ended June (Q2 2020).

The company's mission is to provide breakthrough water-treatment technologies. It does this by developing water, wastewater and reuse solutions that are efficient and unique. 

Cash flow update

The company's positive cash flow was in line with its previous guidance which helped boost the Fluence share price today. Furthermore, Fluence's cash balance at the end of Q2 was approximately US$20 million. This was up from US$16.9 million at the end of Q1 2020.  

When commenting about the update, Managing Director and CEO, Henry Charrabe said: "Streamlining our operations and focusing on timely collections from customers enabled us to turn our operating cash flow positive. Despite global challenges and the economic slowdown, the company is now in a stronger cash position…"

A further update about its financial and operating performance will be provided at the end of this month.

About Fluence Corporation

With headquarters in New York and a global staff consisting of 300 water specialists, Fluence Corporation is a leader in the decentralised water, wastewater and reuse treatment markets. The group was created in 2017 after a series of mergers and acquisitions. It now has an international presence in over 70 countries. This includes in North and South America, the Middle East, Europe and China. 

As per an announcement on 19 June, the company's key, Ivory Coast Project has been impacted by administrative delays resulting from the coronavirus pandemic. Positively, however, Fluence expects the delay to be resolved fairly quickly. 

Henry Charrabe said in the June update, "This water treatment plant is a key infrastructure project for the Ivory Coast Government, and all parties are working hard so that the people in Abidjan will be able to access clean drinking water…"

Fluence also announced its earnings before interest, tax, depreciation and amortisation (EBITDA) turned positive in Q1 2020 and is expected to remain positive for FY20. 

The Fluence share price is currently trading at 24 cents with a market cap of approximately $146.84 million. The group's share price has, however, fallen more than 55% in the past 12 months. 

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The Fluence Corporation Ltd (ASX: FLC) share price was one of the best performers on the All Ordinaries Index (ASX: XAO) on Friday.

Even when the market was sinking lower, the water technology company's shares were pushing higher.

They eventually finished the day almost 17% higher at 35 cents.

Why did the Fluence share price storm higher?

Investors were buying Fluence's shares on Friday after it announced that it has entered into a new strategic market segment and new province.

According to the release, this was achieved with the sale of its Aspiral product to Beijing China Railway Science New Technology Co for a project involving the Chinese Railway System in Inner Mongolia.

The release explains that its Aspiral L3 unit will treat an initial 35m3/day of highly concentrated wastewater. This wastewater is unusually high in nitrogen, similar to Fluence's Hubei highway Systems projects. However, once treated it will meet standards equivalent to China's Class 1A effluent requirement.

The company notes that Fluence's membrane aerated biofilm reactor (MABR) technology has demonstrated its ability to comply with the required effluent standards in previous extreme cold temperatures, while maintaining treatment fidelity.

Fluence's CEO, Henry Charrabé, was pleased with the agreement.

He said: "This initial contract is strategically important to Fluence and is anticipated to rapidly prove MABR's effectiveness in this new application, similarly to the experience with three existing volume partners in China. As we have seen in the past, once our MABR technology has proven itself to a new partner via an initial order, and Fluence is able to significantly contribute to the economic value proposition, meaningful bulk commitments often follow."

"By adding this reference in the severe cold weather climate of Inner Mongolia, the third largest province in China, we are confident that Aspiral will become the ideal solution for the distributed network of the China railway throughout the People's Republic," he added.

The company will ship this order from its factory in Changzhou, which has not been impacted by any material delays in its supply chain.

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The S&P/ASX 200 index (ASX: XJO) has followed the lead of U.S. markets and is trading notably lower again on Friday. At the time of writing the benchmark index is down 6.7% to 4,947 points.

Four shares that have managed to avoid the selloff today are listed below. Here's why they are pushing higher:

The Cynata Therapeutics Ltd (ASX: CYP) share price is up over 3% to 77.5 cents. Earlier this week the biotech company advised that its the current Phase 2 trial plans remain on track and it currently has no logistic or supply chain issues arising from the COVID-19 outbreak. Cynata also revealed that it is in discussions with international pharmaceutical companies about the potential of its Cymerus MSCs to be a useful adjunct in the management of patients with serious and ongoing issues associated with the COVID-19 infection.

The Fluence Corporation Ltd (ASX: FLC) share price has jumped 6.5% to 32 cents. This morning the water treatment company announced that it has entered into a new strategic market segment and new province. This follows the sale of its Aspiral product to Beijing China Railway Science New Technology Co for a project involving the Chinese Railway System in Inner Mongolia.

The Food Revolution Group Ltd (ASX: FOD) share price has stormed 6.5% higher to 8.1 cents. This morning the food and handwash company announced that it has delivered its first batch of hand sanitiser to the market. Food Revolution advised that it has prioritised delivery of hand sanitiser products to hospitals, school colleges and pharmacies, but has received strong demand from the major supermarket chains.

The Fortescue Metals Group Limited (ASX: FMG) share price is up 3.5% to $9.11. Overnight iron ore prices avoided the market selloff and remained steady. This appears to be down to hopes that a massive Chinese stimulus package will support demand and high prices for the steel making ingredient in 2020.

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The Fluence Corporation Ltd (ASX: FLC) share price is trading lower this morning despite the company announcing its first SUBRE sale in Cambodia.

Fluence is a provider of decentralised water, wastewater treatment and reuse solutions for both municipal and industrial applications globally.

What did Fluence announce?

This morning, Fluence announced to the market it had secured a major US$7 million sale through its local partner Xwater Technology. The sale is in relation to Fluence's SUBRE membrane aerated biofilm reactor (MABR) and was made to the Kingdom of Cambodia's Sihanoukville Port for the Ministry of Land Management, Urban Planning and Construction.

Fluence commented that this will be the first biological sewage wastewater treatment system to be installed by the Ministry in Cambodia. It further noted that the MABR order, which consists of 66 SUBRE towers, is expected to be delivered by June this year.

The company stated that this Smart Products Solution consists of three SUBRE greenfield projects for newly built decentralised wastewater treatment plants. Treated wastewater from the solution will meet the necessary standards equivalent to China's Class 1B effluent standard.

According to Fluence, a key benefit of the MABR technology is that it produces reliable and consistent high effluent quality. Additionally, the discharged water can be put directly into the sea without requiring further treatment.

Fluence stated that rapid expansion of the population of Sihanoukville, limited available land for wastewater plants, and the expedited timeframe for delivery were all key considerations that led to the selection of Fluence's SUBRE solution.

Largest order so far outside china

This MABR sale will be Fluence's largest order of this system outside of China to date. Moving forward, the company will continue to focus on deploying its Smart Products Solutions into markets.

Fluence supplies MABR modules globally from its manufacturing facility in Changzhou, Jiangsu Province in China. The company noted that production recently resumed in this facility following the extended Spring holidays.

Commenting on this order, Fluence Managing Director and CEO Henry Charrabé said:

"This order further solidifies Fluence's position as a global leader in MABR and after the successful implementation of these solutions in Sihanoukville Port, will provide an excellent local reference for future biological wastewater treatment needs in Cambodia."

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