H2O Innovation : H2O Innovation awarded CAD$3.7 million in contracts for
municipal & industrial water treatment projects. Final delivery of a large
workers' camps project. Company also expands its systems sales force
All amounts in Canadian dollars unless otherwise stated.
Quebec City, March 21, 2013 - (TSXV: HEO) - HOInnovation Inc. ("HO
Innovation" or the "Company") announces today that it was recently awarded
$3.7 million in new contracts. These new contracts bring HOInnovation's
order backlog for water treatment projects to $18.6 million as of March 20,
Two of the contracts announced today will see HO 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 HOInnovation for the design,
assembly, delivery and installation of a wastewater treatment system featuring
the Company's patented Bio-Wheel(TM) technology.
As part of the other contracts, HO 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 HO Innovation. Indeed HO 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 picture below, left hand-side,
and video on www.h2oinnovation.com). Two more modular plants were delivered
last summer to another industry-leading oil & gas customer (see picture below,
Workers' Camp, Fort McMurray, Alberta, Canada Workers' Camp, Alberta, Canada -
- Oil & Gas Oil & Gas
Final delivery of a drinking water production Modular turn-key packaged plants
Finally, HOInnovation 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.
Certain statements set forth in this press release regarding the operations
and the activities of HOInnovation 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,
HOInnovation 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.
HOInnovation 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. HOInnovation 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.
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HO Innovation Inc.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: H2O Innovation via Thomson Reuters ONE
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