All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, July 7, 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
new contracts totaling $4.5 million. These contracts will see H2O Innovation provide custom-built water treatment systems for municipal
and industrial end-users, in the United States and Canada and, to a
lesser extent, in Egypt. These contracts bring the Company's sales
backlog to $14.7 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 successfully secured contracts for water
treatment systems and equipment in all applications and markets we
target in the United States and Canada. From drinking water systems in
Quebec to industrial process water systems for top-tier U.S. industrial
companies, along with contracts for our Bio-Wheel wastewater treatment
systems, these contracts cover the full breadth of our water treatment
systems offering", stated Frédéric Dugré, President and CEO of H2O Innovation. "We are also particularly pleased to have obtained five
projects in the industrial sector, a market segment where capital
equipment investments have been rare since the beginning of the
recession", concluded Frédéric Dugré.
As part of the contracts announced today, H2O Innovation will design, build and deliver reverse osmosis and
nanofiltration systems for the production of drinking water and for
water reclamation for municipal customers located in Quebec and in the
Southwestern United States. Other contracts will see the Company
provide reverse osmosis and ultrafiltration systems for the production
of process water for industrial customers in the United States and
Egypt. H2O Innovation has also been contracted to design, build and deliver two
of its patented Bio-Wheel wastewater treatment systems to a commercial
customer in Virginia and a municipal customer in Alabama.
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 28, 2009 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
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 Ltd. 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 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.
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H2O Innovation Inc.