All amounts are in Canadian dollars unless otherwise stated.
QUEBEC CITY, May 25, 2022 (GLOBE NEWSWIRE) -- (TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce that its Water Technologies & Services (WTS) business line has recently been awarded three new water and wastewater treatment projects. These new contracts, with a total value of $7.9 M, bring the WTS backlog to $40.4 M.
The first project awarded to the Corporation involves the replacement of a municipal drinking water system that uses ultrafiltration (UF) in the city of Georgetown, Texas. The pilot project was successfully completed last winter, which positioned H2O Innovation to obtain the contract for the 3.6 MGD (13,627 m3/d) system thereafter. The initial system, which had been supplied by another manufacturer, lacked the flexibility that the city required in terms of membrane module replacement. H2O Innovation’s open-platform FiberFlexTM technology secured the Corporation the opportunity to carry out the project.
The second project is a double-pass reverse osmosis (RO) system to supply boiler make-up water to an industrial customer located in Wisconsin. The Corporation won this contract due to its ability to deliver the installation within a very tight schedule.
Finally, the last project awarded to H2O Innovation consists of a membrane bioreactor (MBR) system with a capacity of 276,000 GPD (1,045 m3/d) for an industrial client in Texas.
“These projects demonstrate our focus on the objectives outlined in our Strategic Plan, as we grow with a great diversification of high-quality municipal and industrial projects. They allow the WTS team to employ our engineering expertise and our unique designs, such as the FiberFlexTM flexible approach, and to deliver complete solutions to our customers for all kinds of applications (wastewater, water reuse, etc.). The team has really transformed over the past few years, which has led to these recent successes,” stated Gregory Madden, Chief Strategy Officer of H2O Innovation.
Prospective disclosures
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results, performance and achievements and the estimate of amounts that cannot yet be determined. Those forward-looking statements, based on the current expectations of management, involve a number of risks and uncertainties, known and unknown, which may result in actual and future results, performance, and achievements of the Corporation to be materially different than the said forward-looking statements, such as the Corporation’s ability to execute, complete or deliver these projects, in a timely manner and without additional costs, mostly due to the challenges resulting from the global supply chain and the Covid-19 pandemic. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 27, 2021 available on SEDAR (www.sedar.com).
About H2O Innovation
Innovation is in our name, and it is what drives the organization. H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers. The Corporation’s activities rely on three pillars: i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers, ii) Specialty Products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and engineered products for the global water treatment industry, and iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems. Through innovation, we strive to simplify water. For more information, visit www.h2oinnovation.com.
Source:
H2O Innovation Inc.
www.h2oinnovation.com
Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com
