O&M Backlog Reaches $130.1 M with New Contracts and Renewals as H2O Innovation Consolidates Brand
2023年8月8日 - 9:00PM
ビジネスワイヤ(英語)
All amounts are in Canadian dollars unless otherwise stated.
(TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is proud to announce the successful award of two new
contracts for industrial clients as well as the extension of three
existing contracts for the operation and maintenance (O&M) of
water and wastewater treatment systems. These projects, with a
combined annual value of $4.6 M, bring the Corporation’s O&M
backlog to $130.1 M, further solidifying its position in the
industry.
The first new project is for an industrial workers’ camp located
in northern Alberta. H2O Innovation will provide O&M operations
for the water and wastewater facilities for an initial three-year
period. Additional scope will be added after the first year with
the hiring of a new employee. “This new contract is a great example
of how our business model generates synergies across our different
business lines, as the customer came back to us after we provided a
nanofiltration system for its drinking water plant back in 2008,
and a reverse osmosis skid for its central processing facility a
few years after that,” stated Frédéric Dugré, President, Chief
Executive Officer and co-Founder of H2O Innovation.
The second new project is for a manufacturing and distribution
client located in the Hudson Valley, in the State of New York. The
wastewater facility is positioned to discharge into the New York
City watershed and is regulated and funded by the Department of
Environmental Protection. The new contract has been granted to the
Corporation for an initial period of five years. H2O Innovation
also renewed three existing O&M contracts in the same region,
which highlights the clients’ level of satisfaction with the
Corporation’s expertise, commitment to safety, and dedication to
meeting environmental compliance regulations.
These developments come on the heels of the Corporation’s July
1, 2023, rebranding of two recently acquired businesses, JCO Inc.
(JCO) and Environmental Consultants, L.L.C. (EC), under the H2O
Innovation brand. This strategic move further consolidates the
Corporation’s position in the market and enhances its ability to
deliver comprehensive and innovative water and wastewater
management solutions. As part of its growth strategy, the
Corporation acquired JCO and EC in December 2021. By rebranding
these businesses, the Corporation aims to streamline its
operations, unify its brand identity, and capitalize on the
collective strengths of its O&M business.
"This rebranding marks an exciting milestone, as we continue to
strengthen our position as a leading player in water and wastewater
treatment operations and maintenance," added Frédéric Dugré.
"The integration of JCO and EC under the H2O Innovation brand
allows us to provide our clients with a comprehensive and
diversified portfolio of solutions to address their unique water
management challenges." Customers can expect a seamless transition
as all business operations and communications now operate under the
H2O Innovation name.
Prospective Disclosures
The information and statements contained in this press release
and in other Corporation’s oral and written public communications
regarding the Corporation’s business and activities and/or
describing management’s objectives, projections, estimates,
expectations or forecasts may constitute forward-looking statements
within the meaning of the applicable securities legislation.
Forward-looking statements include the use of words such as
“anticipate,” “if,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “should,” “will,” and other similar expressions, as well
as those usually used in the future and the conditional, although
not all forward-looking statements include such words. H2O
Innovation would like to point out that forward-looking statements
involve a number of uncertainties, known and unknown risks and
other factors which may cause the actual results, performance or
achievements of the Corporation, or of its industry, to materially
differ from any future results, performance or achievements
expressed or implied by such forward-looking statements. Major
factors that may lead to a material difference between the
Corporation’s actual results and the projections or expectations
set forth in the forward-looking statements include, without
limitation, the execution and performance of the services described
in the O&M contracts, in a timely manner and without additional
costs, considering the challenges resulting from the labor shortage
and the inflation rate on good and services, the creation of
synergies between the Corporation’s business pillars despite the
competitive environment in which it operates, the successful
integration of previously acquired businesses and such other risks
as described in the Corporation’s Annual Information Form dated
September 27, 2022, which is available on SEDAR (www.sedar.com).
The forward-looking information contained in this press release is
based on information available as of the date of the release and is
subject to change after this date. Unless otherwise required by the
applicable securities laws, H2O Innovation disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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.
Source: H2O Innovation Inc. www.h2oinnovation.com
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version on businesswire.com: https://www.businesswire.com/news/home/20230808329574/en/
Marc Blanchet +1 418-688-0170
marc.blanchet@h2oinnovation.com
H2O Innovation (EU:ALHEO)
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