MONTREAL, April 8, 2015 /CNW Telbec/ - Ovivo Inc. ("Ovivo") has been awarded a large contract to supply a boiler feed water system for a power plant located in the Middle-East. The contract value is approximately $5 million Canadian and the system is scheduled for delivery in 2016.
Boilers require high quality purified water to generate steam for power plants. Due to scarcity of fresh water in the Middle-East, Ovivo's system will recycle waste water from a nearby municipal sewage treatment plant. The scope of supply includes Ovivo's state of the art process design and equipment to achieve the required level of water purity, such as clarification, ultra-filtration, reverse osmosis and electrodeionization (EDI).
"This contract is another example of Ovivo's capacity to take advantage of the increased level of activities experienced recently in the global energy market," said Marc Barbeau, President and Chief Executive Officer. "Water reuse and recycling are at the forefront of Ovivo's technological development and are part of our mission to increase water awareness and sustainability. With our global platform and technologies, we are well positioned to capture this growing market trend where water supply is decreasing and sea water usage is restricted," concluded Mr. Barbeau.
About Ovivo Inc.
Ovivo Inc. is a global company dedicated to water and wastewater treatment. It offers comprehensive technological solutions, as well as services and equipment tailored to specific client needs. Ovivo operates in over 15 countries with more than 800 employees. Ovivo is a public company whose shares trade on the Toronto Stock Exchange under the ticker symbols OVI.A and OVI.B. www.ovivowater.com
Notice regarding forward-looking statements
Certain statements in this press release and other public communications regarding management's objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements are recognized by the use of terms such as "forecast," "project," "could," "plan," "aim," "estimate" and other similar terms, possibly used in the future or conditional, particularly with regard to certain assumptions. The management of Ovivo would like to point out that forward looking statements involve a number of uncertainties and known and unknown risks such that the actual and future results of Ovivo could differ considerably from those stated. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. The forward-looking statements included in this press release were made as of the date hereof, and unless required to do so pursuant to applicable securities legislation, management of Ovivo assumes no obligation to update them.
Information about the risk factors to which Ovivo Inc. is exposed is provided under sections entitled "Risks and Uncertainties" in the management's discussion and analysis for the fiscal year ended March 31, 2014 and for the third quarter ended December 31, 2014, available on SEDAR (www.sedar.com) and Ovivo's website (www.ovivowater.com).
SOURCE Ovivo Inc.
For further information: Marc Barbeau, President and Chief Executive Officer, Tel: + 1 514 2844238 ; Pierre-Marc Sarrazin, Director, Corporate Finance and Treasury, Tel.: 514 284-7208, [email protected]