H2O Innovation: Piedmont Secured Eight (8) Major Orders for New Desalination Plants and Positions Itself Strategically in the...
July 24 2019 - 8:00AM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is proud to announce its independent subsidiary,
Piedmont, a global leader in corrosion resistant equipment for
desalination plants in the industrial and municipal markets,
secured during the fourth quarter of the fiscal year 2019 a record
number of orders. Piedmont received orders from eight (8)
medium-to-large scale desalination projects, with flow
capacities ranging between 50,000 to 500,000 m3/day, for both its
coupling and fiberglass (“FRP”) filter housing product lines.
Piedmont’s flexible couplings and cartridge
filtration product line have been selected, on a combined basis, on
more than 30 projects in nearly 20 countries over the five (5)
continents. These projects amount to approximately $6.6 M in orders
in the last fiscal quarter, many of which are to be delivered
during the new fiscal year.
“The international desalination market looks
very promising for the coming years, and thanks to this favorable
situation, Piedmont is forecasting significant growth again this
fiscal year. Out of the last ten (10) significant FRP filter
housings projects that we have bid on at a global level, we have
won seven (7), and our win rate for the flexible couplings business
was even higher,” stated Ties Venema, Managing
Director of Piedmont. “This confirms that our business
model is working and that after only three (3) years, we have taken
a leading position on the market for our new product line, the FRP
cartridge filter housings. With that in mind, our expectations for
the coming year are therefore set high for both product
lines,” added Mr. Venema.
Over the next four (4) years in the Middle East
new seawater desalination plants representing a total capacity of
approximately 8,871,000 m3/day are forecast for construction. These
new reverse osmosis (RO) systems represent a potential market of
430,000 flexible couplings, nearly 400 cartridge filter housings
and approximately $550,000/day of antiscalant chemicals needed to
protect the membranes in all those SWRO plants (Source: GWI/Desal
Data). These products are offered by Piedmont's sister company:
PWT. As for the North American market for seawater and brackish
water desalination, it will continue to grow in the coming years,
going from $1.1 B in 2019 to more than $1.5 B in 2024 (Source:
GWI/Desal Data).
About PiedmontPiedmont is a
global leader in corrosion resistant equipment for desalination
plants and meets critical customer demand for a wide range of
applications in the industrial and municipal markets. For more
information, visit www.piedmontpacific.com.
About H2O Innovation H2O
Innovation designs and provides state-of-the-art, custom-built and
integrated water treatment solutions based on membrane filtration
technology for municipal, industrial, energy and natural resources
end-users. The Corporation’s activities rely on three pillars which
are i) water & wastewater projects, and services; ii) specialty
products, including a complete line of specialty chemicals,
consumables and specialized products for the water treatment
industry; and iii) operation and maintenance services for water and
wastewater treatment systems. For more information, visit
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.
Source: H2O Innovation
Inc.www.h2oinnovation.com
Contact: Marc
Blanchet+1 418-688-0170 marc.blanchet@h2oinnovation.com
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