BluMetric Announces Cleantech Water Contract with Tier 1 Cruise Line

Rhea-AI Summary

BluMetric Environmental has secured a CA$1.1 million contract to supply a Sea Water Reverse Osmosis (SWRO) system for a Tier 1 Cruise Line in the Bahamas. The system will provide 80,000 gallons per day of potable water, replacing an existing SWRO system. The project will be executed by BluMetric's recent acquisition, Gemini Water, with delivery and commissioning expected in 2025. Due to market demand, BluMetric is exploring expansion options for its Florida operations, aiming to double its manufacturing footprint. The company is currently working on multiple projects, including an active 2,000,000 GPD project in St. Kitts and Nevis.

Positive

• Secured new CA$1.1 million contract for SWRO system
• Active large-scale 2,000,000 GPD project in St. Kitts and Nevis
• Planned manufacturing facility expansion to meet market demand

Negative

• None.

Ottawa, Ontario--(Newsfile Corp. - November 18, 2024) - BluMetric Environmental Inc. (TSXV: BLM) (OTCQX: BLMWF) ("BluMetric" or "the Company"), a full-service environmental consulting and engineering cleantech firm, announced it has signed a contract to supply a Sea Water Reverse Osmosis (SWRO) system at a remote Caribbean island in the Bahamas for a Tier 1 Cruise Line.

The contract, valued at approximately CA$1.1 million (US$0.8 million), will provide 80,000 gallons per day (GPD) of potable water and replace an existing SWRO system on the Bahamian island. It will be executed by the Company's recent acquisition, Gemini Water, and is expected to be delivered and commissioned in calendar year 2025. This order aligns with previous ones received by both the same and other multinational cruise lines that are developing water resources on private properties facing groundwater scarcity.

"We are excited to continue the sales momentum with our most recent acquisition," said Scott MacFabe, CEO of BluMetric. "The Caribbean is facing increased water scarcity and our distributed SWRO technologies are well suited for this application. Coupled with our active 2,000,000 GPD St. Kitts and Nevis project and others in our backlog, we expect to be busy in our Gainesville, Florida manufacturing facility during the coming year."

Considering the market demand for its cleantech water systems, BluMetric is in the process of exploring expansion options for its Florida-based operations. The Company is aiming to approximately double its manufacturing footprint to service its existing and potential new contracts. BluMetric believes this will be an important part of Gemini Water's continued integration and ability to achieve growth targets.

About BluMetric Environmental Inc.

BluMetric Environmental Inc. is a publicly traded environmental consulting and engineering company with expertise across professional and trade disciplines and technologies that allow for the design, fabrication and delivery of sustainable solutions to environmental and water challenges. BluMetric has more than 220 employees operating in ten offices and over 45 years of expertise. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Military, Mining and Government clients.

For more information, visit www.blumetric.ca or please contact:

Scott MacFabe, CEO
BluMetric Environmental Inc.
Tel: 1-877-487-8436 x242
Email: smacfabe@blumetric.ca

Dan Hilton, CFO
BluMetric Environmental Inc.
Tel: 1-877-487-8436 x550
Email: dhilton@blumetric.ca

Brandon Chow, Principal & Founder
Panolia Investor Relations Inc.
Tel: 1-647-598-8815
Email: brandon@panoliair.com

Forward-Looking Statements

Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230497

FAQ

What is the value of BluMetric's (BLMWF) new SWRO contract in the Bahamas?

The contract is valued at approximately CA$1.1 million (US$0.8 million).

When will BluMetric (BLMWF) deliver the new SWRO system in the Bahamas?

The SWRO system is expected to be delivered and commissioned in calendar year 2025.

What is the daily water production capacity of BluMetric's (BLMWF) new SWRO system?

The SWRO system will provide 80,000 gallons per day (GPD) of potable water.

What expansion plans does BluMetric (BLMWF) have for its Florida operations?

BluMetric is exploring options to approximately double its manufacturing footprint in Gainesville, Florida.