H2O Innovation: Utility Partners Wins a New Operation and Maintenance Contract in Florida and Renews an Existing Project

Rhea-AI Summary

H2O Innovation Inc. announced the award of a new operation and maintenance (O&M) contract in Florida worth $5.1 million, alongside the renewal of an existing contract in New York. The Florida contract, starting October 1, 2020, will create 20 jobs and encompasses water distribution and natural gas operations. This marks H2O's first O&M project in Florida and expands its presence in the state, leveraging previous project synergies. The total O&M backlog now stands at $84.9 million.

Positive

• Awarded a new O&M contract in Florida valued at $5.1 million.
• Created 20 new jobs for the Florida contract.
• Total O&M backlog increased to $84.9 million.
• First O&M contract in Florida opens new market opportunities.

Negative

• None.

QUEBEC CITY, Sept. 28, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H₂O Innovation Inc. (“H₂O Innovation” or the “Corporation”) is pleased to announce that Utility Partners, LLC (“UP”), its business line dedicated to operation and maintenance services (“O&M”) in North America, has recently been awarded a new O&M contract and renewed an existing project. These contracts, with a total value of $5.1 M, bring the O&M backlog to $84.9 M.

The first contract won is for the operation and maintenance services of a municipality in Florida, for a period of three (3) years. A total of 20 employees will be added to operate this infrastructure. This contract will start on October 1^st, 2020 and consist of water distribution, sewers and storm water collection, and natural gas operation. Over the years, the Corporation has delivered more than 15 membrane filtration projects to this State, but this is the very first O&M 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”, stated Bill Douglass, Vice President of the Operation and Maintenance Business Pillar of H₂O Innovation.

Finally, Utility Partners also renewed an existing O&M contract in New York State for an additional year. This wastewater treatment project was designed and commissioned in 2018 by H₂O Innovation.

About Utility Partners
Utility Partners operates, maintains, and repairs water and wastewater treatment plants, distribution equipment and other water utilities for all of its municipal customers. It currently employs 435 employees for the operation of more than 200 utilities in two (2) Canadian provinces and twelve (12) US states, mainly on the US Gulf coast, Southeast, Northeast (New England) and the West Coast. For more information, visit www.utilitypartnersllc.com.

About H₂O Innovation 
H₂O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water technologies and services; ii) specialty products, including a complete line of specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems. 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

FAQ

What is the value of the new contract awarded to H2O Innovation?

The new operation and maintenance contract awarded to H2O Innovation is valued at $5.1 million.

Where is the new operation and maintenance contract for H2O Innovation located?

The new operation and maintenance contract is located in Florida.

When does the new O&M contract for H2O Innovation start?

The new O&M contract for H2O Innovation starts on October 1, 2020.

What is the total O&M backlog value for H2O Innovation after the new contract?

After the new contract, the total O&M backlog for H2O Innovation is $84.9 million.

How many jobs will be created due to the new contract for H2O Innovation?

The new contract will create 20 jobs for H2O Innovation.