Waste material such as liquid industrial refuse or sewage that is discharged into the environment

Merriam-Webster Online Dictionary
effluent (adjective)
flowing out - emanating outgoing an effluent river
effluent (noun)
something that flows out as
a) an outflowing branch of a main stream or lake
b) waste material (as smoke, liquid industrial refuse, or sewage) discharged into the environment especially when serving as a pollutant
effluent (Wikipedia)
Wastewater discharge

Effluent is an outflowing of water or gas to a natural body of water, from a structure such as a wastewater treatment plant, sewer pipe, or industrial outfall. Effluent, in engineering, is the stream exiting a chemical reactor.

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