QUEBEC CITY - October 11, 2012 (Investorideas.com water stocks newswire, www.water-stocks.com - water stocks research) (HEO.V) - H2O Innovation Inc. announces that it was recently awarded $6.5 million in new contracts. These new contracts will see H2O Innovation provide custom-built water treatment systems to industrial and municipal end-users in the United States and Canada . These contracts were awarded to H2O Innovation before the end of its first quarter of fiscal 2013, ended September 30, 2012 . They bring H2O Innovation's order backlog for water treatment systems to $20.4 million as of September 30, 2012 . H2O Innovation continues to develop steadily in its three main growth vectors: municipal, energy and natural resources.
The first contract announced today will see H2O Innovation design, assemble, deliver and commission a drinking water production system for the City of Delaware , OH. With a finished water capacity of 7.1 MGD (26,876 m3/d) the system will provide integrated ultrafiltration and nanofiltration technologies for the treatment of surface water and a low-pressure reverse osmosis unit for the treatment of ground water.
"We are enjoying a growing demand for ultrafiltration systems in the Canadian and U.S. markets. The City of Delaware project has a special significance for us as it will be a great demonstration platform in the Midwest U.S., close to the fast growing surface water treatment market in the eastern U.S. Combining three types of membrane technologies in a single system demonstrates our ability to provide multiple technologies to meet high environmental standards and customer needs. The awarding of this contract clearly demonstrates our know-how in providing integrated solutions", commented Harbans Kohli, Vice President, Systems Sales of H2O Innovation.
Two other U.S. and Canadian municipalities have also awarded contracts to H2O Innovation for the design, assembly, delivery and installation of wastewater treatment packaged plants. The systems will be using H2O Innovation's patented Bio-Wheel™ technology to supply wastewater treatment to the City of Snow Lake, MB and the City of Grover , CO. Another contract will see H2O Innovation build and deliver a low-pressure reverse osmosis system for the reclamation of wastewater to an industrial end-user in Idaho .
Under the last contract announced today H2O Innovation will manufacture and deliver a drinking water production system to a Canadian oil & gas customer. The system will feature surface water treatment requiring roughing filters, ultrafiltration and nanofiltration processes.
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation 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, H2O Innovation 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.
About H2O Innovation
H2O Innovation 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. H2O Innovation also provides a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. For more, visit www.h2oinnovation.com.
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