H2O Innovation awarded CAD$3.7 million in contracts for municipal and industrial water treatment projects - Final delivery of a large workers' camps project - Company also expands its systems sales force
Alternext: MNEMO: ALHEO
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, March 21, 2013 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that it was recently awarded $3.7 million in new contracts. These new contracts bring H2O Innovation's order backlog for water treatment projects to $18.6 million as of March 20, 2013.
Two of the contracts announced today will see H2O Innovation design, assemble, deliver and commission nanofiltration drinking water production systems from surface water for the two Canadian municipalities of Waterville and Eastman, QC. A real estate developer and constructor active in the State of New York has also awarded a contract to H2O Innovation for the design, assembly, delivery and installation of a wastewater treatment system featuring the Company's patented Bio-Wheel™ technology.
As part of the other contracts, H2O Innovation will provide custom-built water treatment systems to industrial and commercial end-users, including a drinking water production unit for a workers' camp to an oil & gas customer located in Alberta, Western Canada. "This new contract for a modular plant in the oil & gas industry shows that we can now consider this kind of projects as a growing and steady line of revenues", commented Frédéric Dugré, President and Chief Executive Officer of H2O Innovation. Indeed H2O Innovation is also proud to announce the final delivery to an oil & gas customer of a previously announced $9.4 million contract. The finished water treatment package will be delivering 3,000 m3/d of potable water to a workers' camp located north of Fort McMurray, Alberta (see video on www.h2oinnovation.com). Two more modular plants were delivered last summer to another industry-leading oil & gas customer.
Finally, H2O Innovation is pleased to announce a strategic hiring within its North American systems sales force. As Director of Systems Sales USA, David Faber has already taken the lead of the U.S. systems sales, closely working with the Company's existing team of sales experts, notably Harbans Kohli, Vice-President Systems Sales, who will now focus on major projects on the U.S. territory.
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Company to the public that describe more generally management objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results and the estimate of amounts that cannot yet be determined. Forward-looking statements include the use of words such as "anticipate", "if", "believe", "continue", "could", "estimate", "expect", "intend", "may", "plan", "potential", "predict", "project", "should" or "will", and other similar expressions, as well as those usually used in the future and the conditional, notably regarding certain assumptions as to the success of a venture. Those forward-looking statements involve a number of risks and uncertainties, which may result in actual and future results of the Company to be materially different than those indicated. Information about the risk factors to which the Company is exposed is provided in the Annual Information Form dated September 25, 2012 available on SEDAR (www.sedar.com). 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 to municipal, energy & natural resources end-users. H2O Innovation also provides a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. For more, visit www.h2oinnovation.com.
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H2O Innovation Inc.