H2O Innovation wins $3.6 million in new contracts and maintains its sales backlog at $38.6 million
TSXV: HEO
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QUEBEC CITY, May 20, 2015 /PRNewswire/ - (TSXV: HEO) – H2O Innovation Inc. ("H2O Innovation" or the "Company") announces today that it was recently awarded new contracts for a total value of $3.6 million. These new contracts allow the Company to maintain a high level sales backlog for water treatment projects; $38.6 million as at May 20, 2015, excluding sales backlog from its Specialty Products and Services division (Professional Water Technologies, Piedmont and H2O Innovation Maple).
H2O Innovation has been selected by two US companies in the energy sector for the design, manufacturing and commissioning of complete process water treatment systems. A first ultrafiltration ("UF") system will be supplied to a power plant located in New Jersey. This UF system will treat secondary effluent in order to produce 0.375 MGD (1,420 m3/day) of process water to be used in cooling towers and boiler applications. The system will integrate FiberFlexTM technology developed by H2O Innovation, allowing membrane module interchangeability. The second system will be provided to a refinery located in New Mexico and will produce 500 gpm (1.9 m3/min) of process water. The reverse osmosis (RO) system supplied by H2O Innovation will be installed on the concentrate stream of a primary RO unit and will act as a brine concentrator to further capture useable water from what would otherwise be a waste stream.
Also, H2O Innovation's proprietary technology Bio-BraneTM will be integrated into a wastewater treatment system for a municipality located in Saskatchewan, Canada. This technology, unique to H2O Innovation, has been chosen by the client due to the fragility of the receiving body and its low operation costs compared to other available technologies on the market. For the moment, H2O Innovation's team is working on the engineering and design phase of this project.
The Company also won a nanofiltration water treatment project for the municipality of Sainte-Marthe-sur-le-Lac, located in the Province of Quebec, Canada. The system, that will be designed, manufactured and commissioned by H2O Innovation, will produce 1.64 MGD (6,200 m3/day) of potable water from a surface water source. The manufacturing phase of the project will be preceded by a three-month validation piloting period.
Finally, H2O Innovation will manufacture two identical pilot units to test the ceramic membranes designed by Nanostone Water, Inc. ("Nanostone"). This will be the first project in collaboration with Nanostone. This is a unique opportunity for H2O Innovation to enhance its knowledge of membrane filtration technology based on ceramic membranes and to build a strong business relationship with a strategic membrane provider.
"All product innovations and strategic initiatives developed by the Company have allowed H2O Innovation to build a diversified technology portfolio, enabling us to offer state-of-the-art custom-built solutions to our clients. With the capacity to integrate technologies such as nanofiltration, reverse osmosis, ultrafiltration, immersed membranes and now, ceramic membranes, H2O Innovation is confirming, once again, its leadership as a membrane filtration system integrator", stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology for municipal, energy and natural resources end-users. 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, consumables and couplings. For more information, 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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