All amounts in Canadian dollars unless otherwise stated
QUEBEC CITY, Sept. 28, 2010 /CNW Telbec/ - H2O Innovation Inc. ("H2O Innovation" or the "Company) (TSX VENTURE:HEO)
(ALTERNEXT:MNEMO:ALHEO), a complete water treatment solutions company
providing custom designed systems along with specialty chemicals for
membrane filtration systems, announces today that it has been awarded
several new contracts totaling $4.3 million. These contracts will see H2O Innovation provide custom-built water treatment systems and equipment
for municipal and industrial end-users, in the United States and Canada
and, marginally, in Russia. These contracts bring H2O Innovation's sales backlog to $14.3 million. The Company's sales
backlog is comprised entirely of systems and equipment sales and does
not include sales of services and consumable products, nor does it
include the backlog of the Company's Indian joint venture H2O Innovation India.
"We are pleased to have been awarded these contracts. Their signing is a
result of both a higher level of bidding activity that we have been
experiencing since the second half of fiscal 2010 along with capital
equipment investments picking up in the industrial segment of the water
treatment industry", stated Frédéric Dugré, President and CEO of H2O Innovation.
As part of the contracts announced today, H2O Innovation will design, build and deliver reverse osmosis and
ultrafiltration systems for the production of drinking water and for
water reclamation for municipal customers located in California,
Colorado, and Quebec. One of the contracts announced today will see H2O Innovation design and manufacture a 6.7 MGD low-pressure reverse
osmosis system composed of two 3.35 MGD trains to treat ground water
for potable use for the East Cherry Creek Valley Water & Sanitation
District's Northern Water Supply Project in Colorado.
For other contracts, H2O Innovation will provide reverse osmosis systems and filtration
equipment for the production of process water for U.S. and Canadian
industrial customers, mostly in the energy and power generation
industry. H2O Innovation has also been contracted to design, fabricate, assemble and
deliver an industrial water reuse system using its patented Bio-Brane
membrane bio-reactor (MBR) system to a textile plant in Russia, the
Company's first recent contract in the fast growing Russian market.
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 yet determined. Forward-looking statements include the use of the
words "expect", "believe", "estimate" and other similar terms 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 21, 2010 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
Building on 10 years of experience, H2O Innovation designs, manufactures, and integrates state-of-the-art
custom-built water treatment systems for the production of drinking
water, the reclamation of water, the treatment of wastewater and
industrial process water in the municipal, commercial, industrial, oil
& gas, mining, and energy markets. Additionally, the Company offers
complete operating and maintenance solutions for membrane filtration
and reverse osmosis systems. H2O Innovation has approximately 90 employees and eight offices including
three manufacturing plants in Canada and the United States and is a
founding partner of H2O Innovation India, a joint venture based in Mumbai, India. Shares of H2O Innovation are listed on the TSX Venture Exchange (HEO) as well as on
the NYSE Euronext Alternext Exchange (MNEMO: ALHEO). For more, visit www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) nor
the Alternext Exchange accepts responsibility for the adequacy or
accuracy of this release.
SOURCE H2O INNOVATION INC.
For further information:
H2O Innovation Inc.