H2O Innovation Ord Shs HEOFF

Industrials

H2O Innovation Inc. is a Canada-based water solutions company, which is focused on providing technologies and services to its customers. The Company designs and provides custom-built, and integrated water treatment solutions based on membrane filtration technology for municipal, energy and natural resources end-users. The Company’s segments include Water Technologies & Services (WTS), Specialty Products (SP), and Operation & Maintenance (O&M). WTS segment designs and builds custom water, wastewater, and water reuse systems. It is engaged in applying membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers. SP segment manufacture and supply a complete line of specialty chemicals, consumables, and engineered products for the global water treatment industry. O&M provides contract operations and associated services for water and wastewater treatment systems.

OTCQX:HEOFF - Post by User

H2O Innovation Ord Shs

Bullboard Posts

Post by Robr15on Oct 30, 2018 10:37am

62 Views

Post# 28894070

more news

Quebec City, October 30, 2018 – (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce that Utility Partners, LLC (“UP”), its business line providing operation and maintenance services (“O&M”) in the United States, recently renewed two (2) operation and maintenance contracts and expanded the scope of work of another project. These contracts, valued at $14.2 M, bring the Corporation’s O&M business backlog to $102.5 M and the consolidated backlog (including Projects) at $153.0 M.

First, Utility Partners renewed a municipal operation and maintenance contract in the State of Mississippi for a 6 and a half-year (6.5) period. For that same project, the UP team expanded the scope of their responsibilities by adding to its contract the supply of all consumables and electricity. “The drinking water treatment plant operated by UP is using reverse osmosis (RO) technology. Now that we are in charge of supplying all consumables, we should be able to improve the OPEX by working closely with our sister company PWT, who is a leader in specialty chemicals for reverse osmosis plants. Our team will also use the deep membrane system expertise available within the H2O group to lower the energy consumption associated with the RO high-pressure pumps”, stated Bill Douglass, Vice-President of the Operation & Maintenance business line of H2O Innovation and Managing Director of Utility Partners.

The second contract scope expansion is for a customer located in New Mexico. For the last two years, Utility Partners operated the wastewater treatment plant of this client. They now added the O&M of the water treatment plant which should double the revenues associated with this contract. The expertise and dedication of the operating staff allowed to build trust with the client, who ultimately decided to give UP more responsibilities.

The last renewal agreement is with Utility Partners’ very first client, a municipality located in Georgia. This contract renewal for an additional five (5) years is a testament to the outstanding quality of services delivered by the local UP team. The award of this contract allows Utility Partners to preserve its renewal record of 100% since the acquisition by H2O Innovation.

“We are very pleased with these three O&M contracts. It shows that we can offer added value to our customers through the expertise of each business line. Once again, the collaboration taking place between our three business pillars provide us with an incredible competitive advantage”, added Frdric Dugr, CEO & President of H2O Innovation.