- Water treatment company, H2O Innovation (HEO) has been awarded six new project contracts, worth a combined C$17.8 million
- The contracts consist of various municipal and industrial projects in Canada the United States, and the Caribbean
- H2O Innovation’s project sales backlog will increase to $42.2 million as a result of these additional contracts
- The company has also announced the amalgamation of two segments within its first business pillar into one entity
- H2O Innovation (HEO) is up 0.94 per cent and is currently trading at $1.07 per share
Water treatment company, H2O Innovation (HEO) has been awarded six new project contracts, worth a combined C$17.8 million.
The contracts consist of various municipal and industrial projects in North America and the Caribbean. The additional contracts will increase H2O Innovation’s project sales backlog up to $42.2 million.
The first project, worth $10 million, is for a dual membrane system upgrade of a municipal water treatment plant in Manitoba. Upon completion, the project will be one of the largest dual membrane drinking water plants in Canada.
The second contract is from an industrial customer within the food and beverage industry in Ohio, USA. It involves the supply of a six-train reverse osmosis system, including feed pumps and cartridge filter housings, a clean-in-place and flush system, and an antiscalant dosing system.
The third project is for the expansion of a pre-existing water treatment system which H2O Innovation provided in 2007. The contract will see the company increase the production capacity, in order to meet rising water demand.
The third and fourth contracts are two municipal projects in the Canadian provinces of New Brunswick and Alberta. In the village of Petit-Rocher, H2O will provide a water treatment system, to treat surface water with filtration methods. In Alberta, the company will provide a membrane bioreactor system to replace the city’s wastewater treatment plant.
For the fifth project, the company will build a seawater reverse osmosis desalination plant for a resort facility in the Caribbean. The nature of the sixth contract is still unclear.
In other news, H2O Innovation has announced a strategic amalgamation in its first business pillar. The company will combine its Water & Wastewater Treatments Projects and its Aftermarket Services businesses into one entity, called Water Technologies & Services (WTS).
H2O Innovation’s President and CEO, Frédéric Dugré, commented on the unification of these businesses.
“We believe that this new name will better reflect who we are, what we do, and what we have to offer our customers.
“The combination of the two businesses puts us in the best position to develop sustainable relationships with our customers and improve our operational efficiency.
“By maximising client retention, our team will focus more on activities generating recurring revenues which also help improve our gross profit margins,” he said.
H2O Innovation (HEO) is up 0.94 per cent and is trading at $1.07 per share, as of 10:04am EDT.