Emefcy/RWL Water to merge and form Fluence
Israeli wastewater treatment company Emefcy will merge with US company RWL Water to create a joint company called Fluence...
MELBOURNE, Australia – Israeli wastewater treatment company Emefcy will merge with US company RWL Water to create a joint company called Fluence.
Subject to shareholders’ approval, the merge would see the more established RWL – with 7000 installations across 70 countries – team up with industry newcomer Emefcy to deliver its proprietary Membrane Aerated Biofilm Reactor (MABR) technology.
The companies intend to go after the “distributed treatment model”, to provide turnkey wastewater services quickly for communities in remote or developing regions – a market they said is a “multi-billion” one.
Emefcy has seen recent traction with its MABR-based offerings – starting in its home nation of Israel, before establishing two projects in Ethiopia (read article).
At the end of last year the company announced it had partnered with construction and engineering company China Gezhouba Group Investment Holding to start a 20 m3/day demonstration project – its first in Asia (read article).
On a combined basis, the two groups would have achieved revenues of US$62 million (A$83 million) in 2016.
Anticipated sales are in excess of US$90 million (A$120 million) for calendar 2017, 71% of which have already been achieved or are in backlog.
Upon closing of the transaction, Fluence stock would remain listed on the Australia Stock Exchange.
Richard Irving, executive chairman of Emefcy, said: “Subject to completion, we expect this merger to create a clear leader in the global distributed water and wastewater treatment industry, one of the fastest growing sectors of the water market globally.”
Henry Charrabé, CEO of RWL Water, added: “Capabilities of the merged group would cover the full water cycle, from desalination to wastewater treatment to wastewater-to-energy and reuse.”