H2O Innovation awarded CAD$3.7 million in contracts for municipal and
industrial water treatment projects - Final delivery of a large workers' camps
project - Company also expands its systems sales force
Alternext: MNEMO: ALHEO
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, March 21, 2013 /CNW Telbec/ - (TSXV: HEO) - H(2)OInnovation
Inc. ("H(2)O Innovation" or the "Company") announces today that it was
recently awarded $3.7 million in new contracts. These new contracts bring
H(2)OInnovation's order backlog for water treatment projects to $18.6
million as of March 20, 2013.
Two of the contracts announced today will see H(2)O Innovation design,
assemble, deliver and commission nanofiltration drinking water production
systems from surface water for the two Canadian municipalities of Waterville
and Eastman, QC. A real estate developer and constructor active in the State
of New York has also awarded a contract to H(2)OInnovation for the design,
assembly, delivery and installation of a wastewater treatment system featuring
the Company's patented Bio-Wheel™ technology.
As part of the other contracts, H(2)O Innovation will provide custom-built
water treatment systems to industrial and commercial end-users, including a
drinking water production unit for a workers' camp to an oil & gas customer
located in Alberta, Western Canada. "This new contract for a modular plant in
the oil & gas industry shows that we can now consider this kind of projects as
a growing and steady line of revenues", commented Frédéric Dugré, President
and Chief Executive Officer of H(2)O Innovation. Indeed H(2)O Innovation is
also proud to announce the final delivery to an oil & gas customer of a
previously announced $9.4million contract. The finished water treatment
package will be delivering 3,000m(3)/d of potable water to a workers' camp
located north of Fort McMurray, Alberta (see video on www.h2oinnovation.com).
Two more modular plants were delivered last summer to another industry-leading
oil & gas customer.
Finally, H(2)OInnovation is pleased to announce a strategic hiring within
its North American systems sales force. As Director of Systems Sales USA,
David Faber has already taken the lead of the U.S. systems sales, closely
working with the Company's existing team of sales experts, notably Harbans
Kohli, Vice-President Systems Sales, who will now focus on major projects on
the U.S. territory.
Certain statements set forth in this press release regarding the operations
and the activities of H(2)OInnovation 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
determined. Forward-looking statements include the use of words such as
"anticipate", "if", "believe", "continue", "could", "estimate", "expect",
"intend", "may", "plan", "potential", "predict", "project", "should" or
"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 25, 2012 available on SEDAR (www.sedar.com).
Unless required to do so pursuant to applicable securities legislation,
H(2)OInnovation 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.
H(2)OInnovation designs and provides state-of-the-art, custom-built, and
integrated water treatment solutions based on membrane filtration technology
to municipal, energy & natural resources end-users. H(2)OInnovation also
provides a complete line of specialty chemicals and consumables for membrane
filtration and reverse osmosis systems. 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.
Source: H2O Innovation Inc. www.h2oinnovation.com
Contact: Marc Blanchet +1418-688-0170 firstname.lastname@example.org
SOURCE: H2O Innovation Inc.
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-0- Mar/21/2013 12:00 GMT
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