- H2O Innovation (HEO) has signed C$3.2 million in new industrial and wastewater contracts
- The company was awarded an engineering contract on a capital equipment project for the largest electric vehicle manufacturer in the U.S.
- It was also awarded four new municipal and industrial capital equipment projects
- These new contracts will bring the corporation’s water technologies and services sales backlog to $37.1 million
- H2O Innovation closed at C$3.00 per share
H2O Innovation (HEO) has signed C$3.2 million in new industrial and wastewater contracts.
The company was awarded an engineering contract on a capital equipment project for the largest electric vehicle manufacturer in the U.S., as well as four new municipal and industrial capital equipment projects.
These new contracts will bring the corporation’s water technologies and services sales backlog to $37.1 million.
H2O President and CEO Frédéric Dugré said the company's water technologies and services business has been very active.
“With our business model, the projects we execute often also lead to opportunities for our other business units down the line," Dugré said.
In a news release, the company said its secured the engineering contract to design two identical reverse osmosis trains for an electric vehicle manufacturing plant located in Texas.
The first project is for an upgrade of the 7,500 m3/day Granbury Wastewater South Plant, in Granbury, Texas. The existing conventional activated sludge plant will be converted to a membrane bioreactor facility with biological phosphorus removal.
The new equipment builds on the plant’s current infrastructure, reducing the capital cost, and the upgrade is designed using the company's innovative flexMBR universal membrane system, which reduces lifecycle cost.
The next project is for a redesign and replacement of a failing MBR system at a school in the State of Maryland. H2O Innovation has been selected to make the necessary repairs and improve the durability of the wastewater system using ceramic membranes.
The third project, an exciting first for H2O Innovation, is the award of a demonstration pilot for its novel SILO technology at an industrial customer in the Midwest U.S.
Lastly, the company has secured a contract in Southern California for the supply of two RO demonstration units at the Hyperion Water Reclamation facility for long-term testing and public outreach.
“We continue to put our efforts into capturing more wastewater, water reuse, and industrial opportunities, characterized by higher gross profit margins, and expanding our presence in Texas, which is a strategic market for us,” Dugré added.
H2O Innovation designs and provides custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users.
H2O Innovation closed at C$3.00 per share.