Mr. Frederic Dugre reports

H2O INNOVATION SECURES LARGE ORDERS AND BREAKS INTO ISRAELI MARKET

H2O Innovation Inc. has recently received two large coupling orders and is experiencing a breakthrough in the Israeli desalination market. These new milestones demonstrate continued momentum with the corporation's growth over the past year and support its efforts toward providing its clients with sustainable solutions for pretreatment in desalination and reuse.

Piedmont, one of H2O Innovation's subsidiaries, has recently received two significant couplings purchase orders for two 600,000 cubic metres/day seawater reverse osmosis (SWRO) desalination plants. The first plant is located in Saudi Arabia, whereas the second is in the United Arab Emirates. Each order comprises approximately 25,000 couplings and end caps manufactured from super duplex, duplex and stainless steel 316L materials.

The corporation has also achieved a significant breakthrough in the Israeli desalination market through the sale of its superconcentrated and dendrimer-based membrane antiscalant synthesized by Genesys-PWT. Furthermore, the team presented a compelling case study during the recent European Desalination Society (EDS) conference, showcasing the successful implementation of the antiscalant at a desalination plant in Israel. In the past fiscal year, nine new mega-SWRO desalination plants started using this green chemistry product in countries like Israel, Singapore, Algeria, Qatar and Argentina, representing 2,216,500 cubic metres/day of seawater treated. With these new plants, a total of 3,307,500 cubic metres/day are treated in large-scale SWRO plants using this technology, which represents a carbon dioxide emissions savings of 183 tons/year. Because this antiscalant is phosphate free and 11 times more concentrated than conventional products, it has the lowest carbon footprint in the industry and lowest cost of freight and handling. This provides both ESG (environmental, social, governance) and economic benefits to the end customers.

These milestones are in keeping with H2O Innovation's high-double-digit organic growth across its Piedmont, Genesys and PWT brands over the past 12 months. The unification of these three brands in July, 2022, aimed to leverage the synergies within its specialty chemicals, consumables and components business line and to provide clients with sustainable solutions for pretreatment in desalination and reuse. "Such results give us confidence in our ability to leverage the strengths of our brands and to keep delivering innovative solutions. We have a global distribution network of over 100 distributors, several of whom now promote and sell the products from our three brands, which helps them not only to increase their business income, but also to better meet the evolving needs of our clients," stated Frederic Dugre, president, chief executive officer and co-founder of H2O Innovation.

As highlighted during the last United Nations Water Conference in New York, the desalination and water reuse market should experience new growth levels with the implementation of the Sustainable Development Goals (SDG) for 2030. In addition, the growing awareness of climate change and the need to reduce greenhouse gas emissions are driving demand for sustainable products and services.

"We know that this is only the beginning of a great journey towards sustainability in our projects. Achieving the Sustainable Development Goals by 2030 is an ambitious objective that requires everyone's collective effort. We all have a role to play in achieving the SDG, and we are confident about the significant contribution we could make through this business line," added Mr. Dugre.

About H2O Innovation Inc.

Innovation is in its name, and it is what drives the organization. H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers. The corporation's activities rely on three pillars: (i) water technologies and services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, waste water and water reuse customers; (ii) specialty products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and engineered products for the global water treatment industry; and (iii) operation and maintenance (O&M) provides contract operations and associated services for water and waste water treatment systems. Through innovation, H2O Innovation strives to simplify water.

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