All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, Nov. 18, 2021 (GLOBE NEWSWIRE) — (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce that its Water Technologies & Services (“WTS”) business line has recently been awarded three new capital equipment projects, one each in water reuse, wastewater, and seawater desalination. These new contracts, with a total value of $4.1 M, bring the WTS backlog to $44.2 M.
The first project is a water reuse contract for the supply of a 220,000 gpd (835 m3/day) membrane bioreactor (MBR) using the Corporation’s versatile flexMBRTM technology. The customer selected H2O Innovation’s unique open-source platform for the flexibility it offers in membrane selection, as well as its robust design. The Corporation will also supply a reverse osmosis (“RO”) system to treat a portion of the flexMBRTM filtrate to meet final quality requirements. The reuse system will harvest wastewater from the sewer system leaving a medical center, located in downtown Atlanta, and treat it for reuse as cooling tower and boiler make-up.
“Water reuse is a major focus for us, and our flexMBRTM technology positions us well to serve this market in a unique way. The flexibility offered by our open-platform strategy affords the customer peace of mind knowing they will have access to the best available membrane technology for the life of their equipment”, stated Gregory Madden, Chief Strategy Officer of H2O Innovation. “We are excited to be working with a partner who understands the value this design brings to the end-user.”
H2O Innovation’s first membrane thickening project, located in Sonora, California, will incorporate flat plate membranes which have a higher solids tolerance than hollow-fiber membranes. Membrane systems have great potential for thickening sludge and provide significant advantages over traditional approaches using clarification. The system will thicken waste activated sludge, reducing volume of the waste by approximately 67 %. Toray’s new high-performance membranes will be used for this application.
Finally, the Corporation will replace high-pressure feed pumps on existing seawater reverse osmosis (“SWRO”) trains and provide an additional 100,000 gpd (380 m3/day) in desalination capacity for a drinking water application at a resort in Anguilla.
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Corporation 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, 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 Corporation to be materially different than the said forward-looking statements., such as the Corporation’s ability to execute, complete or deliver these projects, in a timely manner and without additional costs, mostly due to the challenges resulting from the global supply chain and the Covid-19 pandemic. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 27, 2021 available on SEDAR (www.sedar.com).
About H2O Innovation
Innovation is in our name, and it is what drives the organization. H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers. The Corporation’s activities rely on three pillars: i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers, ii) Specialty Products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and engineered products for the global water treatment industry, and iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems. Through innovation, we strive to simplify water. 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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.
H2O Innovation Inc.