H2O Innovation - CEO, Frédéric Dugré
CEO, Frédéric Dugré
Source: Le Soleil Numerique
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • H2O Innovation (HEO) has been awarded $4.5 million in new projects over the last several months, including six industrial contracts
  • The new projects indicate the company’s desire to diversify its Water Technologies and Services business pillar and include reverse osmosis systems, groundwater treatment systems, and ultrafiltration systems
  • H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers
  • H2O Innovations (HEO) is up 1.67 per cent and is trading at $2.44 per share

H2O Innovation (HEO) has been awarded $4.5 million in new projects over the last several months, including six industrial contracts.

These new contracts will bring the company’s Water Technologies and Services (WTS) business pillar sales backlog to $35 million.

Frédéric Dugré, president and CEO of H2O Innovation, commented on the recent projects.

“We are very excited by these new projects and by the diversification of our portfolio with more industrial projects, characterized by higher gross profit margins,” he remarked. “Our main goal is to simplify complex water problems and design the best solutions for our customers.”

The first large-scale industrial project won by the company is for the supply of a water treatment system for an automotive customer.

H2O Innovation will deliver two identical reverse osmosis trains, skid packages for a clean-in-place system, chemical dosing kits, and flush pumps to this customer.

The second industrial customer is a mining client in northern Quebec. H2O Innovation will design a system using multimedia filters, nanofiltration, and ultraviolet light technologies to treat ground water that will provide drinking water for a worker’s camp.

“With this design, we bring the full expertise of H2O Innovation to the mining industry where we can provide unique equipment, chemical and operational solutions to help customers reduce environmental impact and operating costs,” stated Gregory Madden, chief strategy officer of H2O Innovation.

Additionally, H2O Innovation recently signed four industrial and four municipal contracts of smaller sizes. Of those, two are seawater reverse osmosis plants, three are ultrafiltration systems, and two are brackish water reverse osmosis systems.

“Our WTS team is focused on delivering value by developing customized solutions to solve all kinds of water related problems,” said Mr. Dugré.

H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers.

H2O Innovations (HEO) is up 1.67 per cent and is trading at $2.44 per share as of 11:19 am ET.

More From The Market Herald
Capital Power Corporation - The Whitla Wind Facility

" Capital Power (TSX:CPX) advances carbon capture project

Capital Power (CPX), Mitsubishi Heavy Industries (MHI) and Kiewit Energy have partnered on a front-end engineering and design (FEED) study.
Boralex - VP, Information and Digital Transformation Nicolas Mabboux

" Boralex (TSX:BLX) announces key appointment

Boralex (BLX) has appointed Nicolas Mabboux as Vice President, Information Technology and Digital Transformation, effective today.
Greenbriar Capital Corp. (TSXV:GRB) - CEO, Jeff Ciachursk.

" Greenbriar (TSXV:GBR) enters agreement for sustainable community

Greenbriar Capital Corp. (GRB) has signed an MOU with Green Matters Technologies Inc.

" Fortis (TSX:FTS) closes public offering of senior unsecured notes

Fortis (FTS) has closed its public offering of $500,000,000 of senior unsecured notes due May 31, 2029.