H2O Innovation Secures 7 New Projects, Totalling $7.6 M and Received Notice of Cancellation for One Project
May 05 2020 - 8:00AM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is proud to announce it was awarded seven (7) new
projects in North America. These new contracts, totaling $7.6 M,
along with the cancelled project worth $9.9 M, will bring the
Corporation’s project sales backlog to $33.3 M.
H2O Innovation has secured two major design-build projects in
Santa Monica and Morro Bay, California. The first one is for an
advanced water treatment facility for indirect potable reuse. Their
2-train reverse osmosis (“RO”) system will treat up to 0.6 MGD
(2,271.2 m3/day). The treated water produced by the City’s
recycling facility will be blended with treated water from the new
advanced water treatment facility in the recycled water system. In
a subsequent phase, this blend will also be injected for
groundwater recharge and indirect potable reuse. The second project
was awarded for a wastewater reuse system. The 3-train RO system
will treat 0.9 MGD (3,515.9 m3/day).
The Corporation was also awarded an expansion of
an existing wastewater treatment plant at a gold mine in Nunavut,
which H2O Innovation originally started up in 2017, to accommodate
an expansion at the worker’s camp. The expansion of the membrane
bioreactor (“MBR”) treatment process will increase the plant
capacity to 0.08 MGD (300 m3/day). In addition, two small
projects were awarded to H2O Innovation in the province of Quebec.
In Ohio, the Corporation is providing a RO membrane system to be
installed in a new drinking water treatment plant. The system is
designed for an initial capacity of 3.0 MGD (11,356.2 m3/day),
with future expansion to 4.0 MGD (15,141.6 m3/day). This plant will
replace an existing plant, which uses conventional lime softening
and media filtration to treat their groundwater.
The seventh project H2O Innovation has been awarded is for a
high recovery RO system for a US textile manufacturer. This project
is located in Coahuila, Mexico at a denim textile fabric
manufacturing facility that includes spinning, weaving, dyeing, and
finishing. The feed water for the RO system will be industrial
wastewater pretreated with tubular MBR. The multistage, high
pressure, high recovery RO supplied by the Corporation will operate
at 90-92% recovery and reduce dissolved organics and salts. The
high-quality RO permeate will be reused at the facility for textile
processes and significantly reduce their well water demand. “This
is a great project for us and further illustrates our focus in
wastewater reuse. To date, our membrane systems have produced over
400 billion gallons of high-quality treated wastewater which has
significantly reduced demand on our overburdened natural
resources”, stated David Faber, VP – Capital Projects Sales
of H2O Innovation.
“Unfortunately, the Corporation has just
received a notice of cancellation for one of his major RO project
in California, awarded back in 2014. The California Coastal
Commission staff recommended denial of the permit for the
desalination project. After the engineering part was completed, the
project has been on hold and postponed several times. We knew that
this was coming, but we received only last week the official notice
of termination from the consultant engineering, leading the
design-build team. Therefore, we removed the remaining value of the
contract, amounting $9.9 M, from our backlog”, added
Frédéric Dugré, President and CEO of H2O Innovation.
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 aftermarket 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 NYSE Euronext Growth Paris 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
H2O Innovation (TSXV:HEO)
Historical Stock Chart
From Jun 2024 to Jul 2024
H2O Innovation (TSXV:HEO)
Historical Stock Chart
From Jul 2023 to Jul 2024