H2O Innovation Ord Shs V.HEO

Another renewal and expansion

[profitprophet1]

QUEBEC CITY, April 04, 2022 (GLOBE NEWSWIRE) -- (TSX: HEO) H2O Innovation Inc. (H2O Innovation or the Corporation) is proud to announce that it has recently renewed the contract with its largest operation and maintenance (O&M) customer, the City of Gulfport, Mississippi. This renewal, valued at $13.9 M/year, includes a scope expansion for solid waste collection and fleet management as well as annual consumer price index (CPI) adjustments. The expanded four-year contract, valued at $55.5 M, brings the Corporations O&M backlog to $131.0 M. The City also has the option to extend the contract up to four additional renewal periods of two years each, potentially lengthening the total contract term to 12 years. We are thrilled to continue our relationship with this very important client who has been working with us since 2011. The continued success of this project reflects the hard work and dedication of our employees who live our company values and strive every day to deliver award winning services to our customers, said Frdric Dugr, President and Chief Executive Officer of H2O Innovation. The City of Gulfport has seen exceptional results from H2O Innovation since 2011. We are excited to not only continue our partnership but also expand the scope of high-quality service to our citizens in the near future, added Billy Hewes, Mayor of the City of Gulfport.