One of the best performers on the market on Thursday was the Fluence Corporation Ltd (ASX: FLC) share price.
The shares of the wastewater treatment solutions company, previously known as Emefcy Group Ltd, finished the day over 8% higher at 60 cents.
Why did its shares jump higher?
This morning the company announced that it has signed a framework agreement to deliver six Smart Packaged wastewater treatment plants based on its MABR technology with partner Jiangsu Jinzi Environmental Science and Technology Company.
According to the release, the plants are expected to be delivered, installed, and become operational during 2018 in China’s Guizhou province.
All being well, this could be the first of many more multi-million dollar orders from China thanks to favourable government regulations.
The Chinese Government’s 13th five-year plan targets improved water quality nationwide by 2030, and mandates that local city officials improve sewage capacity and treatment, from currently 10% of treated rural wastewater to 70% treated rural wastewater.
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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.