H2O Innovation: Piedmont Secures Three Large FRP & Coupling Orders and Signs Two New Distribution Agreements
December 16 2020 - 8:00AM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is proud to announce its business line Piedmont, a
global leader in corrosion resistant equipment for desalination
plants in the industrial and municipal markets, secured three large
orders for fiber reinforced polyester (“FRP”) cartridge filter
housings and duplex stainless couplings, totalling $3.3 M. The team
also signed two new distribution agreements in new geographies.
Over the last few months, Piedmont has received
several new contracts for the supply of FRP cartridge filter
housings, cartridge filtration elements as well as flexible
couplings of small to medium sizes. Today, the contracted scope is
for three new large-scale seawater reverse osmosis (“RO”)
desalination plants. Two of these desalination plants are in the
Middle East and will each have a capacity of 159 MGD (600,000
m3/d). The third one is in Asia and will treat 36 MGD (135,000
m3/day) of seawater. Piedmont´s scope for this last project will
include all three product lines (FRP cartridge filter housings,
couplings and self-cleaning strainers), which reinforces its
position as a multi-product supplier for desalination projects.
“The strong brand recognition Piedmont is currently enjoying within
the desalination industry has allowed us to introduce new products
and increase the scope value within the same desalination project.
More and more, we see that customers entrust Piedmont several of
the supply packages as well as capturing synergies within sourcing
and project management. With new products in the pipeline, we
anticipate that our future contracted scope value within the same
project will continue to increase”, stated Ties Venema,
Commercial Director of Piedmont.
During that same period, Piedmont signed two new
distributors to strengthen its global distribution network. “Israel
and Algeria were two markets we did not have a local presence yet
and had therefore difficulties to penetrate by identifying and
seizing the available opportunities. I am excited to see the
synergies that we are generating with our colleagues in Genesys, as
Algeria marks the first geography where we share a distributor. Our
expectations are particularly high for this country in regard to
the aftermarket opportunities for several of our product lines”,
added Mr. Venema.
About Piedmont Piedmont 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 technologies 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.
Prospective disclosuresThis
press release contains forward-looking information under applicable
securities law. All information that addresses operations and
activities that H2O Innovation expects to occur in the future is
forward-looking information. Forward-looking statements use such
words as “believe”, “continue”, “estimate”, “expect”, “intend”,
“should” or “will” and other similar terms as well as those usually
used in the future and the conditional. Forward-looking statements
concern analysis and other information based on forecast future
results and the estimate of amounts that cannot yet be determined
and are based on the estimates and opinions of management on the
date the statements are made. In this press release, such
forward-looking statements include, but are not limited to,
statements regarding the Corporation’s ability to grow its
business. Those forward-looking statements involve several risks
and uncertainties. Those risks and uncertainties include, but are
not limited to, the Corporation’s ability to generate profits with
this announcement new contracts and to generate sales from its new
distributors. Other risk factors are discussed in the Corporation’s
Annual Information Form dated September 23, 2020 available on SEDAR
(www.sedar.com).
Should one or more of these risks or
uncertainties materialize, or should the assumptions underlying
those forward-looking statements prove incorrect, actual results
may vary materially from those described herein. Unless required to
do so pursuant to applicable securities legislation, H2O Innovation
assumes no obligation to update or revise forward-looking
statements contained in this press release or in other
communications as a result of new information, future events, and
other changes.
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
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