H2O Innovation Signs a New Operation and Maintenance Contract Worth $10.4 M
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, July 20, 2021 (GLOBE NEWSWIRE) — (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce it has recently been awarded an Operation and Maintenance (“O&M”) contract for the City of Laurel, MS (the “City”) with a total value of $10.4 M over 4 years, bringing the Corporation’s O&M sales backlog to $83.2 M. This contract was awarded as part of a call for tenders that the City launched with the aim of privatizing some of its public services.
This new agreement includes O&M services for the upkeep of Laurel’s streets and drainage systems and repairs of its municipal fleet. As part of the contract, the Corporation will welcome 33 new employees as of August 1st, 2021, who are currently working for the City, to ensure seamless performance on the contract requirements.
“The City of Laurel is approximately 100 miles north of our main O&M office in Gulfport, MS and will be supported by our other public works employees in the region. We are really excited to expand our O&M presence in Southern Mississippi and are grateful that the City has chosen to put their trust in our team”, stated Gregory Madden, Chief Strategy Officer of H2O Innovation.
Prospective disclosures
Certain statements set forth in this press release regarding the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results, performance and achievements and the estimate of amounts that cannot yet be determined. Those forward-looking statements, based on the current expectations of management, involve a number of risks and uncertainties, known and unknown, which may result in actual and future results, performance, and achievements of the Corporation to be materially different than the said forward-looking statements. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 23, 2020 available on SEDAR (www.sedar.com).
About H2O Innovation
Innovation is in our name, and it is what drives the organization. H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers. The Corporation’s activities rely on three pillars: i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers, ii) Specialty Products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and engineered products for the global water treatment industry, and iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems. Through innovation, we strive to simplify water. For more information, visit www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.
Source:
H2O Innovation Inc.
www.h2oinnovation.com
Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com
