H2O Innovation Builds Momentum, Signing $3.2 M in New Industrial and Wastewater Contracts
January 18 2021 - 8:00AM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is proud to announce it was awarded the engineering
contract on a capital equipment project for the largest electric
vehicle manufacturer in the US, as well as four new municipal and
industrial capital equipment projects. These new contracts,
totaling $3.2 M, will bring the Corporation’s Water Technologies
& Services (“WTS”) sales backlog to $37.1 M.
“Our WTS business has been very active, and
their efforts are highlighted by the recent wave of projects we
have captured, keeping our WTS backlog very healthy. With our
business model, the projects we execute often also lead to
opportunities for our other business units down the line”,
stated Frédéric Dugré, President and Chief Executive
Officer of H2O
Innovation.
The Corporation has secured the engineering
contract to design two identical reverse osmosis (“RO”) trains,
each rated at 2,200 m3/day, for an electric vehicle manufacturing
plant located in Texas. Upon successful completion of the
engineering work, a purchase order for construction and delivery of
the equipment should be issued to the Corporation.
The first project is for an upgrade of the 7,500
m3/day Granbury Wastewater South Plant, in Granbury, Texas. The
existing conventional activated sludge plant will be converted to a
membrane bioreactor (MBR) facility with biological phosphorus
removal. The new equipment builds on the plant’s current
infrastructure, reducing the capital cost, and the upgrade is
designed using the Corporation’s innovative flexMBR™ universal
membrane system, which reduces lifecycle cost.
The next project awarded to H2O Innovation is
for a redesign and replacement of a failing MBR system at a school
in the State of Maryland. The Corporation has been selected to make
the necessary repairs and improve the durability of the wastewater
system using ceramic membranes.
The third project, an exciting first for H2O
Innovation, is the award of a demonstration pilot for its novel
SILOTM technology at an industrial customer in the Midwest US. The
SILOTM platform was developed in-house as a simplified approach to
MBR treatment for smaller applications and decentralized treatment
facilities where installation costs, ease of operation, and low
maintenance are key differentiators.
Finally, H2O Innovation has secured a contract
in Southern California for the supply of two RO demonstration units
at the Hyperion Water Reclamation facility for long-term testing
and public outreach. Each unit will be capable of producing up to
134 m3/day treating secondary MBR filtrate. This project reinforces
the Corporation’s presence and experience in the critical water
reuse market.
According to Mr. Dugré, “We continue to put our
efforts into capturing more wastewater, water reuse, and industrial
opportunities, characterized by higher gross profit margins, and
expanding our presence in Texas, which is a strategic market for
us”.
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, the
Corporation’s ability to complete or deliver these projects, in due
time and without additional costs due mostly to the challenges the
world is facing with the current Covid-19 pandemic, and/or to
generate the usual gross profit margin of these kind of projects.
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.
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.
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.comContact: Marc
Blanchet+1 418-688-0170 marc.blanchet@h2oinnovation.com
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