H2O Innovation Recognized as One of Canada's 100 Fastest-Growing Companies Over the Last Five Years

QUEBEC CITY, June 2, 2010 /CNW Telbec/ - H2O Innovation Inc. ("H2O Innovation") (TSX VENTURE:HEO) (ALTERNEXT:MNEMO:ALHEO), an expert in membrane filtration offering complete water treatment solutions for municipal and industrial applications, is honored to announce that it has today been named to the 22nd annual PROFIT 100 ranking of Canada's Fastest-Growing Companies by PROFIT Magazine. H2O Innovation ranks 77th based on the 818% growth of its revenues over the last five fiscal years (ending June 30, 2009 for H2O Innovation).

"We are very proud to be recognized as one of the fastest growing companies in Canada, a select group of stellar performers. Especially since this ranking recognizes companies that have been successful at building sustained growth over a five-year period. Achieving long-term growth requires both a clear strategy and the time to execute it thoroughly through ever changing market conditions," stated Frédéric Dugré, President and CEO of H2O Innovation Inc. "H2O Innovation has grown tremendously since our founding in 2000. We owe this growth to our people, to their knowledge of membrane-based water treatment systems and to their hard work and dedication. We also owe it to our customers and shareholders for the trust they have put in us over our first ten years. "

Ranking Canada's Fastest-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country's most successful growth companies. Published in the June issue of PROFIT and online at PROFIT100.com, the PROFIT 100 is Canada's largest annual celebration of entrepreneurial achievement.

"Canada's Fastest-Growing Companies are the poster children for entrepreneurship, innovation and pure tenacity," says Ian Portsmouth, editor of PROFIT. "They demonstrate what it takes to succeed in today's highly competitive, technology-driven global economy.

About H2O Innovation 

With 10 years of experience developing water treatment solutions, H2O Innovation is establishing itself as a key player in sustainable development and clean technologies in North America and abroad. H2O Innovation designs, develops, produces, 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 with Chembond Chemicals of 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 information about H2O Innovation, visit the Company's website at www.h2oinnovation.com.

About PROFIT Magazine

PROFIT: Your Guide to Business Success is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 28 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at www.profitmagazine.ca.

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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