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H2O Innovation Inc (2)
Symbol HEO
Shares Issued 22,789,286
Close 2016-10-04 C$ 1.90
Market Cap C$ 43,299,643
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H2O Innovation wins seven contracts in fiscal Q1

2016-10-05 09:28 ET - News Release

Mr. Marc Blanchet reports

H2O INNOVATION AWARDED NEW CONTRACTS WORTH $6.9 M AND INCREASES ITS CONSOLIDATED BACKLOG TO $99.1 M

H2O Innovation Inc. was awarded, during the first quarter ended on Sept. 30, 2016, five new contracts in Canada -- in Nunavut, Alberta, Manitoba and Quebec, respectively, as well as two new contracts in the United States -- in Minnesota and Iowa. These new contracts bring the corporation's projects sales backlog to $42.2-million, included in the $99.1-million consolidated backlog.

The first contract was awarded by a leading company in the mining industry. The corporation will provide a potable water system and waste water treatment system, each treating 39.63 gallons per minute (216 cubic metres per day) for a 400-person workers' camp in Nunavut. This waste water system will be using the corporation's containerized membrane bioreactor (CMBR) process, combining the use of advanced biological processes and submerged membranes. Systems using this process create high-quality effluent capable of meeting the most stringent effluent requirements. Using the CMBR enables faster system integration and delivery, reduces footprint and provides better effluent quality.

The second project is with an important oil company from Alberta, for an ultrafiltration system that will produce 550.36 gallons per minute (3,000 cubic metres per day) of potable water. This system will feed the steam generator, as well as act as the pretreatment to its existing nanofiltration plant. The system will ultimately be delivered in skid mounted buildings, similar to H2O Innovation's past projects.

The remaining five contracts awarded to the corporation are municipal and industrial contracts. Disraeli, a town located in the Chaudiere-Appalaches region in the province of Quebec, has awarded the corporation with a contract to provide a drinking water system capable of producing 330.22 gallons per minute (1,800 cubic metres per day) for the municipality. H2O Innovation distinguished itself from its competitors thanks to its competitive price, its expertise in the municipal sector, and its many achievements made in the industry in Quebec and in North America. Additionally, the corporation will provide Hydro-Quebec with a custom-built water treatment system that will produce drinking water for the employees of the La Romaine 3 hydroelectric power plant, located on the North Shore of Quebec. A water treatment system that will produce 175 gallons per minute (953.9 cubic metres per day) for the municipality of Sherburn, Minn., was also awarded to the corporation. Lastly, H2O innovation will supply drinking water systems for the municipality of Slate Falls first nation in Manitoba, as well as for a Midwestern American university.

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.

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