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H2O Innovation Inc (2)
Symbol HEO
Shares Issued 90,007,408
Close 2023-08-23 C$ 2.88
Market Cap C$ 259,221,335
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H2O Innovation wins $8.5M in water treatment contracts

2023-08-23 10:38 ET - News Release

Mr. Frederic Dugre reports

THREE NEW WATER TREATMENT PROJECTS ADD $8.5 M TO THE WTS BACKLOG

H2O Innovation Inc.'s Water Technologies & Services (WTS) business has recently been awarded three new water treatment projects, including drinking water, waste water and water reuse applications, totalling $8.5-million. These projects speak to the growing demands for water needs of all kinds and increase the WTS backlog to $64-million.

The corporation has secured a contract with a confidential recurring client, located in the Western United States, for an industrial ultrafiltration (UF) system. This project involves a two-train system designed to produce four million gallons per day (15,142 cubic metres per day) of water used for cooling towers. In this unique project, H2O Innovation will also provide a secondary UF train for the treatment of the backwash waste water to improve the overall system recovery. "We are very happy to provide a third system for this client to support their growing water treatment needs. The fact that some clients return to us for more business stands as a testament to not only their satisfaction, but also the trust that they place in our ability to deliver solutions. These customer partnerships are a source of pride for us and compel us to keep delivering quality services," stated Frederic Dugre, president, chief executive officer and co-founder of H2O Innovation.

The second project is for a solar panel manufacturing plant which will utilize UF followed by reverse osmosis (RO) to treat industrial waste water. The system will include three 500,000 gallons per day (1,893 cubic metres per day) trains for reuse within the facility. "H2O Innovation is a strong advocate of water reuse and is proud to contribute to water conservation in collaboration with this new client. This partnership exemplifies our commitment to support water positivity and sustainable practices that benefit not only our clients, but also the environment as a whole," added Mr. Dugre.

Lastly, H2O Innovation will supply an expansion for an existing membrane bioreactor (MBR) system, which was also provided by the corporation in 2022, at Chelsea Ridge Apartments in Wappingers Falls, N.Y. The current system has been in operation for approximately 18 months and the client is now moving forward to the second phase of the project. This expansion will add the necessary membranes and ancillary equipment to accommodate the required increase in capacity.

About H2O Innovation Inc.

H2O Innovation is a complete water solution company focused on providing best-in-class technologies and services to its customers. The corporation's activities rely on three pillars: (i) Water Technologies & 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 & Maintenance (O&M) provides contract operations and associated services for water and waste water treatment systems. Through innovation, the company strives to simplify water.

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