H2O Innovation Wins CAN$ 4.1M New Contracts and Increases Sales Backlog to CAN$ 19.8M
June 19 2008 - 8:30AM
Marketwired
QUEBEC CITY, QUEBEC Inc. ("H2O")(TSX VENTURE:
HEO)(ALTERNEXT:MNEMO:ALHEO) is pleased to announce the signing of
five new contracts in the USA and Canada. The contracts total CAN$
4.1 million, bringing the firm's backlog to CAN$ 19.8 million
compared to CAN$ 10.1 million as of June 26 last year.
Contracts in Canada:
Two of the contracts were awarded in the province of Quebec,
Canada. The first one came through a competitive bidding process
with the state electricity agency, Hydro-Quebec. It is for a
filtration system that removes turbidity from raw water and
provides process water used in one of their power plants located in
Quebec. It is worth mentioning that two years ago, H2O provided and
commissioned similar water process systems for another power plant
facility belonging to Hydro-Quebec.
The second contract is to equip a mining workers camp with two
mobile units: one for the production of drinking water and the
other for wastewater treatment. This contract is a good example of
H2O Innovation's integrated capabilities in answering to its
clients needs with a wide variety of water treatment. Moreover, it
clearly shows that our diversification strategy is starting to
bring significant results. This strategy was initiated last year
and intended to target other growing markets such as energy, mining
and oil & gas, beyond municipal market.
Contracts in the USA:
The three other contracts were awarded to H2O's American
subsidiary, Membrane Systems Inc. ("MSI"). One of the systems to be
designed and furnished for the City of San Diego through RBF
Consulting Engineers of California is a good size demonstration
unit for treating ground water under the influence of surface
water.
The project in Richmond, near San Francisco, will be a water
reclamation project treating tertiary treated domestic wastewater.
MSI furnished system will be used to recycle four (4) million
gallons per day ("MGD") of wastewater using very effective low
pressure filtration and reverse osmosis membrane technologies.
The third contract is an industrial high pressure reverse
osmosis system that minimizes concentrate going to the waste
stream. The treatment system is designed for a peak flow rate of
200,000 gallons per day. Through the years, H2O has built an
impressive list of references in recycle water (or reclamation)
applications - one of the fastest growing applications in the
United States due to water depletion of the underground water
reserves.
H2O Innovation's COO, Frederic Dugre, is pleased to see that the
synergies expected through the various acquisitions are finally
paying off. "It is now clear that our extended experience in the
water sector and our "knowledge to share" approach with customers
and consultants are permitting us to rapidly develop other market
segments, bringing added value and savings to customers in niche
applications. Our success in winning these contracts validates the
strategy in place and shows that integration is taking place in all
of our subsidiaries. Consequently, real leverage commercially as
well as operationally starts to happen. We believe our CAN$ 19.8M
backlog is now a great pride and challenge for the entire
organization. It shall permit us to generate positive cash flow and
become a significant pure-water player in this fast growing
industry."
About H2O
H2O is pursuing its market development in the water treatment
sector with a complete portfolio of membrane technologies and
biological processes. H2O's mission is to develop, produce and
market state-of-the-art, environmental friendly products dedicated
to the production of drinking water and the treatment of wastewater
and industrial processed water.
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 Chairman of the
Board and CEO 450-227-1150 ggoulet@h2oinnovation.com H2O Innovation
(2000) Inc. Frederic Dugre President and COO 418-688-0170
fdugre@h2oinnovation.com
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