(Alternext: MNEMO: ALHEO)
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, June 6, 2012 /CNW Telbec/ - H2O Innovation Inc. ("H2O Innovation" or the "Company") (TSXV: HEO) announces today that it was recently awarded $3.7 million in new contracts. These new contracts will see H2O Innovation provide custom-built water treatment systems and equipment to municipal end-users in the United States and Canada, as well as smaller systems to industrial end-users. The contracts bring H2O Innovation's order backlog for water treatment systems and equipment to $27.1 million as of June 6, 2012.
The first contract announced today will see H2O Innovation design, assemble, deliver and install a 917 gpm (5,000 m3/day) nanofiltration membrane water treatment system to the city of Saint-Tite in Quebec, Canada. Including multimedia pre-filtration, the system will produce drinking water from raw surface water. Commissioning of the system is planned for summer 2013. Upon completion, this project will be the largest nanofiltration system delivered by H2O Innovation to a Quebec municipal end-user.
A second contract will see H2O Innovation build and deliver a containerized water treatment system to the Village of Spencerville, Ohio. The Company will manufacture a low-pressure reverse osmosis/nanofiltration membrane water treatment system for the production of drinking water from iron-containing well water. Consisting of eight interconnected 40-foot (12-meter) long ISO containers, the system includes multimedia pre-treatment using pressure filters, a 451 gpm (2,458 m3/day) feed flow membrane system, chemical injection & storage container and an operations building container.
"The awarding of a contract for the execution of a drinking water production system for the city of Saint-Tite in Quebec is the successful result of all the efforts we have made since the foundation of our company 12 years ago in order to promote membrane filtration in Quebec as an efficient and reliable process to produce drinking water", stated Frédéric Dugré, President and CEO of H2O Innovation. "We are also pleased to have been selected by the Village of Spencerville, Ohio to provide a containerized drinking water production system, which is somewhat of a novelty for municipal applications. This innovative approach will enable Spencerville to benefit from a high quality technological water treatment system, with significantly reduced infrastructure and civil works costs", concluded Frédéric Dugré.
Under other smaller contracts, the Company will manufacture and deliver smaller reverse osmosis membrane water treatment systems to industrial end-users in the United States and Canada. One of these smaller contracts calls for H2O Innovation to deliver on an expedited schedule an integrated containerized system for the production of drinking water for a workers camp in Northern Quebec. The system will be used as part of a major investment of the Quebec Government's Plan Nord, one of the largest economic, social and environmental development projects in Quebec's history.
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 words such as "anticipate", "if", "believe", "plan", "estimate", "expect", "intend", "may", "could", "should", "will", and other similar expressions, 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
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 110 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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