H2O Innovation Secures Over $3 Million in Contracts
March 19 2008 - 8:30AM
Marketwired
QUEBEC CITY, QUEBEC H2O Innovation (2000) Inc. (H2O)(TSX
VENTURE: HEO)(Alternext:MNEMO:ALHEO) is pleased to announce the
signing of four new contracts for the municipal and industrial
markets in Canada and the United States. These new contracts add
slightly more than $3 million to the firm's backlog, which
currently totals $14.2M.
Industrial market
H2O's Alberta division, Sigma Environmental, has been awarded a
contract by Primewest Energy Inc. to supply components and provide
specialized on site services for the installation of a water
treatment system. "The industrial market is currently experiencing
significant growth in Western Canada. That is the main reason we
acquired Sigma Environmental Solutions Inc. in December 2007. H2O's
positioning strategy for this sector opens the door to many
potential projects," explains H2O President and COO Frederic
Dugre.
High demand for drinking water production systems, wastewater
purification systems, and process water treatment units for the
mining, oil, and gas sector has led H2O to diversify its customer
base and turn its attention to this industrial market. H2O plans to
improve its profit margins by increasing its commercial activities
in this sector.
Municipal market
H2O's U.S. subsidiary, Membrane Systems Inc. (MSI) has been
awarded two new contracts for the design and manufacture of
drinking water production units. The first system installed in the
Gila River Indian Community (GRIC) in Arizona will consist of three
reverse osmosis units able to produce initially 5 million gallons
of drinking water per day (MGD) with a potential capacity of up to
10 MGD.
MSI has also received a notice of award for the Mainland Water
Treatment RO Expansion Project for Currituck County, North
Carolina. The system initially designed and supplied by MSI in 2005
will be enhanced with two reverse osmosis units producing 1.5 MGD
in order to meet increased demand for drinking water.
In addition, Indian and Northern Affairs Canada (INAC) has
selected H2O to replace the outdated water treatment facilities of
the Little Grand Rapids and Pauingassi native communities, both in
Manitoba.
About H2O
H2O mission is to develop, manufacture and market innovative,
environment-friendly products intended for drinking water
production, wastewater treatment and industrial processes.
The TSX Venture Exchange and the Alternext Exchange assume no
responsibility for the relevance or accuracy of this press
release.
Contacts: H2O Innovation (2000) Inc. Guy Goulet President and
CEO 450-294-227-1150 ggoulet@h2oinnovation.com H2O Innovation
(2000) Inc. Frederic Dugre President and COO 418-688-0170
fdugre@h2oinnovation.com H2O Innovation (2000) Inc. Stephen
Gauthier CFO 418-688-0170 sgauthier@h2oinnovation.com
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