H2O Innovation Ranked 108th Fastest Growing Technology Company in North America on Deloitte's 2010 Technology Fast 500™

QUEBEC CITY, Oct. 21, 2010 /CNW Telbec/ - H2O Innovation Inc. ("H2O Innovation" or the "Company") (TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) today announced that it ranked number 108 on Technology Fast 500(TM), Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005-2009. H2O Innovation grew 989 percent during this period.

"This ranking recognizes the growth we have successfully achieved over the past five years, following our long-term strategic plan combining internal and external growth vectors. It is also a clear illustration of the leadership position H2O Innovation now holds in the North American water treatment industry. In five years, we have strengthened our company, expanded our geographical coverage, enhanced our portfolio of technologies, and deepened our knowledge and know-how of water treatment systems. We are ready to tackle the next five years of growth, become a profitable company and generate growing value for our shareholders", stated Frédéric Dugré, President and CEO of H2O Innovation.

Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their outstanding five-year revenue growth.

"With its remarkable growth from 2005 to 2009, H2O Innovation has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America and deserves our congratulations," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte Canada. Deloitte is proud to honour H2O Innovation for this accomplishment."

Overall, Technology Fast 500™ award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent.

For additional details on the Technology Fast 500™ including qualifying criteria, visit www.fast500.com

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.

About Deloitte

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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.
Guillaume Ducharme
418-928-0234
guillaume.ducharme@h2oinnovation.com
www.h2oinnovation.com

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H2O INNOVATION INC.

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