H2O Innovation announces $6.5 million of new contracts in the oil & gas industry
Alternext: MNEMO: ALHEO
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, Jan. 14, 2014 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that it was recently awarded $6.5 million of new contracts in Western Canada's energy sector. These new contracts bring the Company's order backlog for water treatment projects to $17.9 million as of January 13, 2014.
Amongst the contracts announced today, two of them are major contracts awarded by a leading independent energy company engaged in the exploration, development and production of natural gas and oil in North America. These two contracts will see H2O Innovation design, build and commission a potable water treatment package as well as a wastewater treatment package for a 2,300 person workers camp in Northern Alberta.
"The award of these contracts from a major player in the oil & gas industry is a notorious pledge of confidence because it is the second mandate given to us by this client just after the delivery of two similar units last fall. Our expertise in water purification and sewage treatment, our value-added design and our ability to execute and deliver on time are some of the key factors that have enabled us to secure this second project", said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
The potable water treatment plant, which includes provision of raw water pumping, filtration using cartridge filters, ultrafiltration and reverse osmosis as well as chlorination prior to storage in an above ground bolted steel potable water storage tank, will produce 575 m3/day of fully treated potable water. To complement the potable water package at this camp, H2O Innovation will supply a membrane bioreactor (MBR) wastewater treatment plant having a capacity of 517.5 m3/day and consisting of a raw wastewater pumping, anoxic and aerobic tanks, membrane tanks, disinfection by ultraviolet light and discharge to an engineered disposal field.
A third contract has been awarded to H2O Innovation by an international company operating in Alberta specializing in in-situ oil sands production. This contract will see H2O Innovation design, build and commission a membrane based water treatment package located within the owners of CPF (central processing facility) to treat well water for domestic use in the administration and maintenance buildings, laboratories, garage wash bay as well as supply the safety showers and eye wash stations.
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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