Preliminary Final Report
Melbourne, Feb 28, 2017 AEST (ABN Newswire) - The Directors of Emefcy Group Ltd (
ASX:EMC) (EMFGF:OTCMKTS) present their report, together with the financial statements for the financial year ended 31 December 2016, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Emefcy Group Limited (referred to hereafter as the 'company' or 'parent entity'); Emefcy Limited based in Israel; and Emefcy Hong Kong Limited, a wholly owned, Hong Kong based subsidiary incorporated on 18 July 2016.
In 2016, the Company successfully transitioned from technology development to global commercialisation of its innovative and patented Membrane Aerated Biofilm Reactor ("MABR") wastewater treatment technology.
Regional sales capabilities have been established on four continents:
- Middle East (Israel);
- Americas (US Virgin Islands, and a demonstration facility with Stanford University's Codiga Resource Recovery Center);
- Africa (Ethiopia); and
- Asia (China).
Of all these markets, China offers the greatest near term growth opportunities. In February 2016, the Chinese Central Government released the 13th Five Year Plan. This Plan includes Central Government funding to increase the proportion of remote Chinese villages with wastewater treatment from 10% to 70%. The Company has entered into four strategic partnership agreements in China to date.
Principal Activities
The Group's principal activities in the course of the financial year were:
- The research, development and commercialisation of innovative wastewater treatment systems incorporating Membrane Aerated Biofilm Reactor ("MABR") based wastewater treatment technology for use in decentralised settings;
- Implementing the multi-faceted China strategy;
- Implementing the US strategy based on an initial Recycle as a Service ("RaaS") development phase and appointment of regional manufacturer representatives;
- Developing the larger scale SUBRE product ready for field testing; and
- Progressing the Electrogenic Bio Reactor ("EBR") technology for potential use in certain industrial waste applications.
Aside from the global commercialisation of the MABR based wastewater treatment technologies and the commencement of activities to establish global manufacturing facilities in China, there were no other significant changes in the nature of the Company's principal activities during the financial year.
To view the full report, please visit:
http://abnnewswire.net/lnk/YTWIT785
About Fluence Corporation Ltd
Fluence Corporation (ASX:FLC) (OTCMKTS:EMFGF) is a leader in the decentralized water, wastewater and reuse treatment markets, with its Smart Products Solutions, including Aspiral, NIROBOX, NIROFLEX and SUBRE. Fluence offers an integrated range of services across the complete water cycle, from early stage evaluation, through design and delivery to ongoing support and optimization of water related assets, as well as Build Own Operate Transfer (BOOT) and other recurring revenue solutions. With established operations in North America, South America, the Middle East, Europe and China, Fluence has experience operating in over 70 countries worldwide and enables businesses and communities worldwide to maximize their water resources.
Further information can be found at https://www.fluencecorp.com/
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