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H2O Innovations -CEO, Frédéric Dugré - The Market Herald Canada
CEO, Frédéric Dugré
Source: Globe and Mail
  • H2O Innovation (HEO) subsidiary, Utility Partners, has been awarded a new O&M contract and has also renewed an existing project
  • The new three-year contract is for operation and maintenance services of a municipality in the US state of Florida
  • Utility Partners’ renewed contract is a one-year extension on a wastewater treatment project in New York State
  • Combined, these contracts are worth approximately C$5.1 million, and bring the company’s O&M backlog to $84.9 million
  • H2O Innovation (HEO) is up 3.68 per cent and is currently trading at $1.41 per share

H2O Innovation (HEO) subsidiary, Utility Partners, has been awarded a new O&M contract and has also renewed an existing project.

The new contract which Utility Partners has won is for operation and maintenance (O&M) services of a municipality in Florida. While the company has delivered over 15 membrane filtration projects to this state, this is its first O&M contract for Florida.

The Florida contract will consist of water distribution, sewers and stormwater collection, and natural gas operation. The company will add a total of 20 new employees in order to operate this infrastructure.

Utility Partners will start the contract on October 1, 2020, and provide its services for a period of three years.

The company’s renewal of an existing O&M contract is for a wastewater treatment project in New York State.

H2O Innovation designed and commissioned the wastewater treatment system in 2018. The renewal extends the company’s contract on the project for one additional year.

Combined, these contracts are worth approximately C$5.1 million, and bring the company’s O&M backlog to $84.9 million. Vice President of H2O Innovation’s Operation and Maintenance business pillar, Bill Douglass, commented on Utility Partner’s latest new contract.

“We are very proud to have been awarded this major contract in Florida.

“In addition to entering a new territory, we will also be able to take advantage of cross-selling opportunities and synergies with the projects carried out in this state, by H2O Innovation, over the past few years,” he said.

H2O Innovation (HEO) is up 3.68 per cent and is trading at $1.41 per share at 11:32am EDT.


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