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All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, Dec. 7, 2021 (GLOBE NEWSWIRE) – (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce that it has entered into a water treatment project with the City of San Diego, California that was temporarily suspended will resume its course. The order value increased from $ 8.8 million in 2017 to $ 11.2 million today due to change orders and price adjustments related to raw material cost inflation. The total was included in the Water Technologies and Services business area’s backlog of $ 44.2 million as of October 31, 2021.
Pure Water San Diego is the city of San Diego’s multi-year program that will provide more than 40% of San Diego’s water supply by the end of 2035. The Pure Water San Diego sewage treatment plant, with a capacity of 30 MGD (113,560 m3 / day), will use proven water purification technology that purifies recycled water to produce safe, high quality drinking water. This infrastructure project was developed to meet the need for a new water supply, to cope with the drought problem and to diversify the drinking water supply. A pilot of a 1 MGD (3,785 m3 / day) recycled water treatment plant was set up in 2009 and operated for several years to evaluate the feasibility of a large-scale reservoir expansion project.
“We are very pleased that the production of the project is restarted. We have been involved in several landmark water reuse projects in California, but this is our largest ultrafiltration reference to date. ” said Frédéric Dugré, President and Chief Executive Officer of H2About innovation.
Estimated information
Certain statements in this press release regarding the operations and activities of H2O Innovation, as well as other communications by the company to the public that describe broader management goals, forecasts, estimates, expectations or projections may be forward-looking statements within the meaning of securities law. Forward-looking statements relate to analyzes and other information that are based on forecast future results, performance and successes as well as estimates of amounts that cannot yet be determined. These forward-looking statements, which are based on management’s current expectations, involve a number of known and unknown risks and uncertainties that could cause actual and future results, performance and achievements of the company to differ materially from the forward-looking statements made ., such as the company’s ability to execute, complete or deliver this project in a timely manner and at no additional cost, mainly due to the challenges posed by the global supply chain, labor shortage and the Covid-19 pandemic. Information on the risk factors to which the company is exposed is provided on the annual information form dated September 27, 2021 available on SEDAR (www.sedar.com).
About H2About innovation
Innovation is in our name and is what drives the company. H2O Innovation is a complete water solutions company focused on providing world class technology and services to our customers. The company’s activities are based on three pillars: i) Water Technologies & Services (WTS) applies membrane technologies and technical know-how to provide equipment and services to municipal and industrial water, wastewater and water reuse customers, ii) Specialty Products (SP ) is a group of companies that manufacture and supply a full line of specialty chemicals, consumables and engineering products for the global water treatment industry, and iii) Operation and Maintenance (O&M) provides contract operation and related services for water and wastewater treatment systems. We strive to simplify water through innovation. More information is available at www.h2oinnovation.com.
Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) nor NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this press release.
Source:
H2O Innovation Inc.
www.h2oinnovation.com
Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com
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