All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, March 8, 2012 /CNW Telbec/ - H2O Innovation Inc. ("H2O Innovation" or the "Company") (TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) announces today that it was recently awarded $2.8 million in new contracts. These new contracts will see H2O Innovation provide custom-built water treatment systems to industrial and municipal end-users in the United States and Canada. The contracts bring H2O Innovation's equipment order backlog to $28.6 million as of March 8, 2012.
The most significant contract announced today will see H2O Innovation design, fabricate, deliver and install a Bio-Brane™ membrane bio-reactor wastewater treatment and water reuse system to an industrial end-user active in the oil and gas sector in Northern Alberta. The aboveground steel package Bio-Brane™ system will be used to treat sanitary wastewater from the client's work camp. H2O Innovation's BioBrane™ technology is a high-efficiency IFAS MBR (integrated fixed-film activated sludge and membrane bioreactor) system used for municipal or industrial wastewater treatment and water reuse applications around the world.
"We are delighted to have been selected by an industry-leading oil and gas producer to deliver our unique Bio-Brane™ wastewater treatment system to one of their work camps in Northern Alberta. Our client noted as key differentiators of our offering its containment in a single building, along with its smaller footprint, lower energy consumption and flexibility in operating with variable charges and flows", stated Frédéric Dugré, President and CEO of H2O Innovation. "To support our growth in the mining and energy sectors, we are looking to add sales, engineering and project management resources to our Calgary office", concluded Frédéric Dugré.
Another contract will see H2O Innovation build and deliver a system to a municipal end-user, the City of Hillsboro, North Dakota, for which the Company will manufacture a nanofiltration/reverse osmosis membrane softening water treatment system for the production of drinking water. Under other contracts, the Company will manufacture and deliver smaller reverse osmosis membrane water treatment systems to industrial and municipal end-users in the United States and Canada.
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, 2011 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 11 years of experience, 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 systems for the production of drinking water and industrial process water, the reclamation and reuse of water, and the treatment of wastewater, while providing a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. With more than 100 employees and seven locations in North America, H2O Innovation is also 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) and 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.
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