H2O Innovation announces signature of new contracts for an amount of $3.2 million
Alternext: MNEMO: ALHEO
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, Dec. 19, 2013 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that it was recently awarded $3.2 million in new contracts. These new contracts bring the Company's order backlog for water treatment projects to $13.4 million as of December 18, 2013.
Amongst the contracts announced today, two of them are strategic for the Company, since the systems will be designed for wastewater reclamation applications by membrane filtration technology, an important growing segment in the water treatment industry.
One of these projects will allow H2O Innovation to make a significant breakthrough in the State of Texas by assuming the design, assembly and commissioning of a new reverse osmosis system for advanced processing of membrane bioreactor (MBR) effluent which is treating municipal wastewater. Once the installation is completed, the reverse osmosis system will have a capacity of 4.2 MGD at 85% recovery and will supplement other water sources to fill Lake Fort Phantom Hill. This system will be located in Hamby, Texas, which is close proximity to the City of Abilene and will become the largest advanced water treatment system for treating municipal wastewater effluent in the state of Texas.
Since the State of Texas voted a constitutional amendment to jump-start a financing program of $2 billion for state water projects, it becomes a growing and strategic territory, rich in opportunities for H2O Innovation. This contract fits perfectly with the development and business plan of the Company for the next years. It will bring H2O Innovation a great visibility in the field of wastewater reclamation, which becomes increasingly significant from an environmental standpoint.
The second project offers a major technological opportunity for H2O Innovation in the field of wastewater treatment. West Basin Municipal Water District in Carson, California awarded a contract to H2O Innovation for the design, assembly and commissioning of a portable microfiltration/ultrafiltration (MF/UF) system capable of producing 1.0 MGD of net filtrate flow using pressurized hollow fiber membranes modules, a first of its kind in California. Once operational, this system will have a recovery of at least 95%. H2O Innovation is proud to have been selected for this project and to have the opportunity to supply this state-of-the-art MF/UF plant.
"This project is part of the Municipality of West Basin' strategy to meet its needs in recycling wastewater on its broad territory. Our expertise acquired by the implementation of major water and wastewater projects integrated in containerized mobile units for the mining and oil industries, gives us the know -how to develop a customized solution to meet water treatment needs via a decentralized structure. We sincerely believe that this decentralized water treatment approach by containerized mobile units may respond to similar problems that many municipalities are facing, since it minimizes infrastructure work, restoration of roads as well as deploys an efficient water treatment solution in a short time frame", says Frédéric Dugré , President and CEO of H2O Innovation.
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results, performance and achievements and the estimate of amounts that cannot yet be determined. Those forward-looking statements, based on the current expectations of management, involve a number of risks and uncertainties, known and unknown, which may result in actual and future results, performance and achievements of the Company to be materially different than the said forward-looking statements. Information about the risk factors to which the Company is exposed is provided in the Annual Information Form dated September 24, 2013 available on SEDAR (www.sedar.com).
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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