HEO H2O Innovation Inc

H2O Innovation (2000) Inc. ("H2O") (TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) has
announced changes to its board of directors, the appointment of new company
officers, and the granting of 532,000 stock options.


As part of organizational restructuring following the recent acquisition of
Itasca Systems Inc. ("Itasca") announced July 3, and considering the fact that
the company is facing major challenges to ensuring its profitability, its
growth, and the successful completion of the contracts in its order books, as
well as the objective to put together its knowledge and know-how with its recent
acquisitions, co-founder Frederic Dugre will now fill the position of president
and CEO of H2O. Guy Goulet will remain Chairman of the Board and will act as
liaison between members of the board of directors, the company's officers, its
major shareholders, and the Alternext stock exchange in Paris and will play a
greater role in business development. With his knowledge and extensive corporate
and financing experience, Guy Goulet directly contributed to the development of
projects undertaken by H2O, a company he co-founded in 2000. Among other things,
he has been the driving force behind several financing initiatives that have
ensured the company's long-term success.


With his expertise in finance and marketing of "cleantech" technologies, and his
understanding of the water treatment industry, Frederic Dugre-a trained
mechanical engineer-has made major contributions to the growth of H2O through
his involvement in the company's many acquisitions since its founding.


Furthermore, with the acquisition of Itasca, Richard Alan Hoel, the company's
former majority shareholder, and James Peterson, its former President, will now
act as member of the board of directors and COO, respectively, in order to
integrate their expertise into the company's operations and expand the skill set
of the board and the management.


Richard Alan Hoel holds a J.D. in Law from Harvard Law School and a BA in
Economics from Hamline University in Minnesota. He was a founding partner of the
Winthrop & Weinstine law firm, established in 1979. He is an experienced
businessman who has devoted the majority of his career to buying, restructuring,
and selling a variety of companies. He has worked with banks and bank holding
companies throughout the Ninth Federal Reserve District. As part of this
process, he has been involved in the tax, securities and regulatory issues
associated with acquisitions, divestitures and restructurings.


James Peterson holds a MBA from University of St-Thomas as well as a BA in
Chemistry and Natural Science Distributive from Gustavus Adolphus College in
Minnesota. He headed Itasca as president starting in 2003. He also filled a
variety of management positions in a number of industries including Scherping
Systems (General Manager), Ecolab, Inc. - Agrifoods Division (Vice President,
Sales and Service), and H.B. Fuller Company (Divisional Sales Manager).


In addition, Annie Lemieux has been nominated Chief Financial Officer and
Stephen Gauthier Senior Vice-president Corporate Finance & Investor Relations.


Annie Lemieux has a degree in Business Management from Laval University and
became a certified accountant in 1992. She has over 10 years' experience with
publicly-traded companies and private manufacturing companies, where she held a
variety of finance management positions. "With her expertise and know-how, Annie
Lemieux will assist us in our growth and in change management," explains H2O
president and CEO Frederic Dugre. As part of her new role as Chief Financial
Officer, Annie Lemieux will be mainly dealing with financial statements and all
other publicly available financial information.


Stephen Gauthier holds a BA in Business Administration from Ecole des Hautes
Etudes Commerciales de Montreal and has over 20 years' finance experience as an
analyst, negotiator, and investment advisor with Financiere Banque Nationale and
as Executive Director and Portfolio Manager with Magna Vista (a division of
AGF). He also worked for nearly 10 years for the Canadian division of Pictet &
Cie as Senior Vice-president and Chief of Investments.


As part of this organizational restructuring, the company announces the granting
of a total of 532,000 stock options to its directors and certain key employees,
in accordance with the terms and conditions of its new stock options plan. The
grant is effective as of July 17, 2008. Each stock option gives the holder the
right to acquire one common share for the price of CA$ 0.90 before July 17,
2013.


About H2O

H2O's mission is to develop, manufacture and market innovative,
environment-friendly, products intended for drinking water production,
wastewater treatment and industrial processes.

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