HEO H2O Innovation Inc

H2O Innovation (2000) Inc. ("H2O Innovation" or the "Company") (TSX
VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) announces that it has been instructed to
defer to an unspecified date the execution of the contract it has received at
end of October 2008 from Petro-Canada Oil Sands Inc. ("PCOSI") on behalf of Fort
Hills Energy L.P.


The Company has received written notice on November 21, 2008 to hold off further
the execution of the contract. This notice is an outcome of Petro-Canada's
announcement on November 17, 2008 to delay until 2009 the final investment
decision related to the mining portion of the Fort Hills project. The contract
will remain in the Company's sales backlog as the mining portion of the Fort
Hills project has been put on hold and has not been cancelled. This postponement
will not impact the Company's current operations of fiscal 2008-2009 which
follow their course according to the Company's budget prepared at the beginning
of the fiscal year.


About H2O Innovation

H2O Innovation's mission is to design, develop, produce and integrate
state-of-the-art, environmental friendly products dedicated to the production of
drinking water, the treatment of wastewater and industrial processed water, and
the reclamation of water.


Prospective disclosures

This press release may contain prospective disclosures representing current
expectations of H2O Innovation and are subject to certain risks and
uncertainties. For details of these risks and uncertainties please refer to the
Company's Annual Information Form dated September 26, 2008 available on SEDAR
(www.sedar.com). H2O Innovation rejects any obligation to revise or update the
prospective disclosures contained in this press release.

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