Globe & Mail 11:04 AM EDT, 05/10/2021 (MT Newswires) -- H2O Innovation Inc. (HEO.V) has recently won two new projects and renewed four Operation & Maintenance (O&M) contracts in North America. These contracts, with a total value of $3.3 million bring the O&M backlog to $63.5 million. (H2O clarifies that it had previously announced its backlog was $77.3 million, due to a rate conversion error).
The first awarded project involves the operation, maintenance, and management of the water treatment systems of a Municipal Utility District (MUD) in the State of Texas. These types of contracts do not have an expiry date and are usually referred to as evergreen contracts. The second project is for the operation and maintenance of an effluent treatment facility at a large agri-food processing plant, located in Calgary, Alberta. This project is now the corporation's largest membrane bioreactor (MBR) it operates in North America, treating over 4,000 m3/day (1.0 MGD) of high strength industrial effluent.
"We are very excited to see continued growth for the O&M business pillar, especially into the industrial sector in Western Canada. The contract renewals show a commitment to the H2O Innovation Playbook concept that we win by creating value and delighting our customers. We have great relationship with our customers which is shown in our industry leading contract renewal rates. In Western Canada, we started with our first O&M contract in the region only three years ago, and we are now operating more than 15 facilities", stated Gregory Madden, Chief Strategy Officer of H2O Innovation.
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