H2O Innovation: Professional Water Technologies Records Double-Digit Sales Growth, Increases International Reach
December 17 2009 - 7:59AM
Marketwired
H2O Innovation Inc. (TSX VENTURE: HEO)(ALTERNEXT: MNEMO:ALHEO)
("H2O Innovation" or the "Company"), a complete water treatment
solutions company providing custom designed systems along with
water additives and specialty chemicals for membrane filtration
systems, announces that its California business unit Professional
Water Technologies ("PWT") has recorded double-digit sales growth
for the eighth year in a row. This growth is the result of an
increased presence in the Middle East and Mexico as well as the
signing of several contracts with major municipalities,
particularly in the Western United States, Florida, Israel, and
Australia. The rapid integration of PWT's product line into the H2O
Innovation customer base has also had a positive effect on PWT's
sales.
PWT's sales for the 2009 calendar year are on track for a 19%
growth over the 2008 calendar year with no significant increases in
overhead or additional capital costs, maintaining PWT's high gross
margins. Prior to PWT's acquisition by H2O Innovation on June 19,
2009, PWT's fiscal year ended December 31. As of the acquisition
date, PWT's results have been consolidated into H2O Innovation's
results.
"PWT's growth globally can be attributed to the unique
technological advantages of our dendrimer-based antiscalant
products," says Stephen Dunham, H2O Innovation's Vice-President,
After-Market Sales and Maintenance Solutions and former President
of PWT. "We are consistently winning new contracts in PWT's core
markets as well as newer high-growth markets like the Middle East
and Australia," concluded Stephen Dunham. PWT enjoyed significant
interest in its product offerings during the International
Desalination Association 2009 World Congress on Desalination and
Water Reuse in Dubai last month. During the event, numerous large
water treatment plants were identified as prospective customers for
PWT's dendrimer technology.
PWT's dendrimers have sizable advantages compared to standard
antiscalants. Most notably, PWT's dendrimers are super-concentrated
instead of diluted, what makes them 90% smaller and lighter to ship
- a significant advantage in international markets. "Any time you
can reduce the customers' chemical handling requirements from forty
containers per year to only four, you're creating major economic
and logistics advantages for them," according to David Russell,
PWT's Sales Director. In addition to the advantages of reducing
freight and drum disposal, PWT's dendrimer line is also
phosphate-free, making it more desirable in environmentally
conscious markets.
Prospective disclosures
This press release may contain prospective disclosures
representing current expectations of H2O Innovation which 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 28, 2009 available on SEDAR
(www.sedar.com). H2O Innovation rejects any obligation to revise or
update the prospective disclosures contained in this press
release.
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). For more information about H2O
Innovation, visit the Company's website at
www.h2oinnovation.com
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: H2O Innovation Inc. Guillaume Ducharme 1-418-688-0170
ext. 329 1-418-688-9259 (FAX) guillaume.ducharme@h2oinnovation.com
www.h2oinnovation.com
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