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H2O Innovation Inc (2)
Symbol HEO
Shares Issued 22,789,286
Close 2016-10-21 C$ 2.08
Market Cap C$ 47,401,715
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H2O Innovation wins $6.4-million in new contracts

2016-10-24 09:07 ET - News Release

Mr. Marc Blanchet reports

H2O INNOVATION AWARDED $6.4 M OF NEW CONTRACTS, INCLUDING THREE WASTEWATER TREATMENT CONTRACTS USING THE NEW FLEXMBR TECHNOLOGY

H2O Innovation Inc. was awarded new contracts, including three waste water treatment contracts in Canada (two in Alberta and one in Quebec that also incorporates a five-year operation and maintenance (O&M) contract). These new contracts, using the flexMBR technology, bring the corporation's projects sales backlog to $48.9-million, included in the $105.1-million consolidated backlog (combining projects and O&M contracts).

The first award consist of a waste water treatment system using a customized containerized membrane bioreactor, designed on the flexMBR platform, and sludge dewatering solutions for a waste management company located in Fort McMurray, Alta. The system will treat up to 200,000 gallons per day (750 cubic metres per day) of several workers camps' waste water, which will be hauled to the new system for advanced treatment. This project is the first of its kind in Alberta and will be installed within the reserve of Fort MacKay First Nation, where the local company will own and operate the system. The system owner will then recycle the composted bio-solids for land reclamation projects in the region.

H2O Innovation's state-of-the-art flexMBR technology will provide its owner with full flexibility to choose between multiple membrane products for the same system. In years to come, the owners will be able to choose which membrane to use for replacement in a competitive bid to reduce costs. It will also allow the owner to take advantage of new membrane products that will become available in the future.

The two other projects are membrane bioreactors (MBR) servicing private developers. The second project in Alberta will also incorporate the flexMBR design and will include ceramic flat sheet membranes. For the project in Quebec, the corporation has been awarded the design and construction of the system in addition to a five-year operation and maintenance contract.

"We are excited about the instantaneous uptake by our customers of our flexible approach to MBRs, as well as leveraging the services of our new operation and maintenance team. We look forward to the continued development of a long-standing and trusting relationship we can all grow from over the coming years," stated Ryan Waldie, director of system sales -- Canada, H2O Innovation.

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