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Why Fluence Corporation Ltd shares stormed 7% higher

Much to the relief of its long-suffering shareholders, the Fluence Corporation Ltd (ASX: FLC) share price is heading in the right direction at long last.

At the time of writing, the company formerly known as Emefcy Group Ltd has seen its shares rise 7% to 69 cents.

This has reduced its year-to-date decline to approximately 25%.

Why are its shares higher today?

This morning the water treatment solutions provider advised that it has been awarded a €1.5 million contract by France-based VINCI Construction Grands Projets to supply three Nirobox smart packaged seawater desalination units to the island of Mayotte.

As well as this positive news being a catalyst to taking the share price higher, investors may be getting excited due to management’s positive outlook for Nirobox in the future.

According to the release, the global decentralized water purification market value is expected to increase from US$2.7 billion in 2016 to US$4.4 billion in 2021. Management has explained that Nirobox has been designed in such a way to capture a large part of this market.

Time will tell whether it does.

Why Elon Musk’s “secret weapon” was the most shorted share in Australia...

On 9 March, the visionary Tesla co-founder and CEO made a bold $63,000,000 to save a large swath of Australia. But in the process, he accidentally revealed the small Melbourne-based company that allows him to consistently make the impossible possible. At one point, this little understood company was actually the single most heavily shorted share in all of the ASX. Yet oddly enough, nine out of 10 analysts call it a screaming BUY! And that includes Motley Fool Australia.

We just isolated this company as Elon Musk’s “secret weapon”, and think it’s dynamic run (up more than double after initially floating shares just two and a half years ago!) is only getting started. For the full story on this company, as well as how to get invested alongside us today, simply click here!

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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