H2O Innovation Receives Coveted "Technology Green 15(TM) Award" at the 2009 Deloitte Technology Fast 50(TM) Awards
October 01 2009 - 8:00AM
Marketwired
H2O Innovation Inc. ("H2O Innovation" or the "Company") (TSX
VENTURE: HEO) (ALTERNEXT: MNEMO:ALHEO) is a winner of the
prestigious Deloitte Technology Green 15(TM) Award, an award
created in 2007 to showcase 15 Canadian companies that are leading
the way to create major breakthroughs in the field of green
technology.
"We are very proud to have been awarded the Deloitte Technology
Green 15(TM) Award. With over 400 systems installed, H2O Innovation
is establishing itself as a key player in the North American water
treatment industry-moreover using state-of-the-art clean
technologies. This award recognizes both our success and our
growth. Coupled to the significant 189% growth of our sales for
fiscal 2009, this honour is a noteworthy acknowledgement for us as
it highlights our leadership position in the fields of clean
technologies and water treatment in Canada", stated Frederic Dugre,
President and CEO of H2O Innovation.
"The Deloitte Technology Green 15(TM) Award recognizes those
Canadian companies that offer solutions to global environmental
challenges by creating intellectual property and technology that
reduce society's environmental impact," said John Ruffolo, National
Leader, Technology, Media & Telecommunications Industry Group,
Deloitte. "Companies such as H2O Innovation are creating technology
solutions that have a significant environmental impact and
demonstrate a compelling return on investment, despite being in a
recession. In doing so, they are helping position Canada as a
global leader in the development of commercially-viable green
technology."
H2O Innovation designs, develops, produces, and integrates
state-of-the-art custom-built water treatment systems for the
production of drinking water, the reclamation of water, the
treatment of wastewater and industrial process water for multiple
markets. H2O Innovation has completed and successfully integrated 4
acquisitions in the last 20 months in Canada and the United States.
The Company was ranked 20th largest global supplier of desalination
systems and ranks 3rd in North America according to industry
publication Water Desalination Report.
Highlights of the 2009 fiscal year-end results disclosed on
Monday September 28
H2O Innovation disclosed its 2009 fiscal year results by press
release on Monday September 28, 2009. For this fiscal year ended
June 30, 2009, H2O Innovation registered record sales, solid growth
in EBITDA and cash generated from operating activities while having
significantly reduced its net loss by 98% to $65,148. During the
fiscal year, the Company's sales reached $31.2 M, a 189% increase
compared to $10.8 M for the 2008 fiscal year. Gross margin was at
23.8% for the fiscal year 2009, slightly down from 24.8% for the
same period in 2008. EBITDA (earnings before interest, taxes,
depreciation and amortization) for fiscal 2009 was $1.1 M, compared
to a ($3.0 M) loss before interest, taxes, depreciation and
amortization in fiscal 2008. The Company recorded a net loss of
($65,148) ($0.001 per share) for the 2009 fiscal year,
significantly lower than the net loss of ($3.6 M) ($0.100 per
share) recorded in fiscal 2008.
To qualify for the Technology Green 15(TM) Award, candidates
must be headquartered in Canada and devote a significant portion of
their operating revenues to creating proprietary technology or
intellectual property.
About the Deloitte Technology Green 15(TM)
The Technology Green 15(TM) recognizes Canada's leading
GreenTech companies. GreenTech, the industry term for "green
technologies", is taking on greater importance in the world in
general, and the world of business in particular. It includes any
technology that promotes a more efficient use and re-use of the
earth's resources in industrial production and consumption.
GreenTech products and services are designed to reduce or eliminate
environmental impacts and improve operational performance,
productivity, or efficiency while reducing costs, inputs, energy
consumption, waste, or pollution. Although many companies within
GreenTech industry sectors are very different, they share a common
trait: all use new, innovative technology to create products and
services that compete with existing products and services on price
and performance while reducing impact on the environment.
About the Deloitte Technology Fast 50(TM)
The Deloitte Technology Fast 50(TM) program is Canada's
pre-eminent technology awards program. Celebrating business growth,
innovation and entrepreneurship, the program features four distinct
categories including the Technology Fast 50(TM) Ranking,
Companies-to-Watch Awards (early-stage Canadian tech companies in
business less than five years, with the potential to be a future
Deloitte Technology Fast 50(TM) candidate,) Leadership Awards
(companies that demonstrate technological leadership in four
industry subcategories: hardware/semiconductor, software,
telecommunications and emerging technologies) and the Deloitte
Technology Green 15(TM) Awards (Canada's leading GreenTech
companies that promote a more efficient use and re-use of the
earth's resources in industrial production and consumption.)
Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC,
Wellington Financial, Stonewood Group, HKMB Hub, CATAAlliance,
CleanTech Group, IGLOO, ITAC, MaRS and Microsoft. For further
information, visit www.fast50.ca.
About H2O Innovation
Exclusively dedicated to water treatment, H2O Innovation is
establishing itself as a key player in sustainable development and
the field of clean technologies. H2O Innovation designs, develops,
produces, and integrates state-of-the-art custom-built water
treatment systems for the production of drinking water, the
reclamation of water, the treatment of wastewater and industrial
process water in the municipal, commercial, industrial, mining, and
energy markets. Additionally, the Company offers complete operating
and maintenance solutions for membrane filtration and reverse
osmosis systems. H2O Innovation has approximately 100 employees and
eight offices including three manufacturing and assembly plants in
Canada and the United States. Shares of H2O Innovation are listed
on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext
Alternext Exchange (MNEMO: ALHEO).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the Alternext Exchange accepts responsibility
for the adequacy or accuracy of this release.
Contacts: Source: H2O Innovation inc. www.h2oinnovation.com
Guillaume Ducharme 1-418-688-0170 ext. 329
guillaume.ducharme@h2oinnovation.com
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