Alternext: MNEMO: ALHEO
QUEBEC CITY, Feb. 12, 2014 /CNW Telbec/ - (TSXV: HEO) - H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that it has been awarded a major contract of CAD$10 million in the United States to design, build and supply major equipment and services for a seawater reverse osmosis (SWRO) system. This will be the second largest SWRO system in the United States. The contract brings Company's order backlog for water treatment projects above CAD $25 million as of February 11, 2014.
The Monterey Peninsula Water Supply Project in California will replace a significant portion of the existing water supply from Carmel River, with the intake from wells located under the ocean floor. When completed, the SWRO will provide 9.6 MGD (36,336 m3/d) potable water. The plant is expected to be operational in late 2017 or early 2018. CDM Constructors Inc. has been awarded the entire design build contract and H2O Innovation has been subcontracted to design and supply the SWRO system and provide commissioning services.
"We are particularly proud of the confidence granted by the client by awarding us this major contract. Our cumulative experience of the past years in the realisation of water treatment projects in different scopes of work will be an important asset to help us achieve success on this major project", said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
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 provides integrated technological water treatment solutions based on membrane filtration technology to municipal, energy & mining end-users. H2O Innovation designs state-of-the-art custom-built water treatment projects for the production of drinking water and industrial process water, the reclamation and reuse of water, and the treatment of wastewater. Also, directly and through its affiliates, H2O Innovation provides services and products complementary to its membrane filtration and reverse osmosis systems. These products consist of a complete line of specialty chemicals and consumables and a complete line of couplings. 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.
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