H2O Innovation Secures Over CAN$1.9 Million in Contracts
August 26 2008 - 8:40AM
Marketwired
H2O Innovation ("H2O") (TSX VENTURE: HEO)(ALTERNEXT:MNEMO:ALHEO) is
proud to announce the signing of five new contracts. These new
projects total CAN$1.9 million, bringing the firm's backlog to
CAN$21 million.
Wastewater Technology Inc. ("WTI"), a US subsidiary of H2O, has
been awarded a contract by the luxurious Primland Resort located in
Virginia's Blue Ridge Mountains (U.S.A.). WTI will build a
wastewater treatment plant using Bio-BraneTM patented technology to
treat 90,000 gallons per day of sewage effluent which will be used
for irrigation of the golf course and landscaping. With the
submerged microfiltration membranes used in the Bio-BraneTM
process, suspended solids and other contaminants in the wastewater
will be reduced to acceptable levels for water reuse. The project
should start immediately for completion in the third quarter of
2009.
"Nowadays, new permits delivered by state agencies for ground or
surface water intakes are very limited in North America considering
the existence of viable water recycling technologies. Under such
circumstances, the Bio-BraneTM becomes a strong asset in H2O's
product portfolio considering its low energy consumption and
ability to produce high quality effluent," explains Don Ricketts,
President of WTI.
It is worth mentioning that this contract was secured subsequent
to the acquisition of WTI announced in April 2008. This project
confirms H2O's dominant position in the advanced wastewater
treatment industry using membrane bioreactors.
H2O's latest acquisition, Itasca Systems Inc. ("Itasca"), has
been awarded a contract by Olmsted County Waste to Energy, a
company based in Rochester, Minnesota (U.S.A.). Itasca will provide
the energy production facility a complete water treatment plant
including a double pass reverse osmosis system, activated carbon
filters, a decarbonator tower, and demineralizers. "This contract
in the energy sector secures H2O's strategy to diversify its market
beyond the municipal sector. With the recent acquisition of Itasca,
H2O now has access to an impressive reference list of industrial
projects. Such contracts accelerate revenue recognition due to
their shorter delivery schedules and execution time compared to
municipal projects," explains James Peterson, newly appointed Chief
Operating Officer for H2O.
The third contract of importance was awarded by the municipality
of St-Adolphe-d'Howard in the province of Quebec (Canada).
Following the recommendation of its consulting engineering firm,
LBHA, the municipal council has released an order for a packaged
nanofiltration treatment system including all pre-treatments. This
contract award was the result of a competitive bidding process in
which engineers analyzed both the technical and financial aspects
of the five proposals received. It is worth mentioning that this
plant will be using H2O's proprietary technology:
NanH2Ofiltration.
Lastly, H2O Innovation was awarded two other contracts for the
design and manufacture of containerized treatment units. The first
one will be used to treat an industrial effluent in Oceanside,
California (U.S.A.), and the second will be used to produce
drinking water for a workers camp in Northern Quebec (Canada).
About H2O
H2O's mission is to design, develop, produce, and integrate
state-of-the-art, environmentally friendly solutions for drinking
water production, wastewater and industrial processed water
treatment, and water recycling.
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. Frederic Dugre President
and CEO 418-688-0170 fdugre@h2oinnovation.com H2O Innovation (2000)
Inc. Stephen Gauthier Senior Vice President, Corporate Finance
& Investor Relations 418-688-0170
sgauthier@h2oinnovation.com
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