Operation and Maintenance Contract Renewed in Georgia, USA

Rhea-AI Summary

H2O Innovation Inc. has renewed its O&M contract with Monroe County, Georgia, valued at $3.3 million for five years. This contract boosts the company’s O&M backlog to $131.5 million. Monroe County, a fast-growing area with over 3,800 customers, continues to rely on H2O Innovation’s services. The renewal includes annual CPI increases and the addition of one employee, indicating the company’s strong presence and customer service in Georgia.

Positive

• Renewal of O&M contract with Monroe County valued at $3.3 million.
• Increase in O&M backlog to $131.5 million.
• Contract includes annual CPI increases and additional employee.

Negative

• None.

All amounts in Canadian dollars unless otherwise stated.

QUEBEC CITY, June 23, 2022 (GLOBE NEWSWIRE) -- H₂O Innovation Inc. (“H₂O Innovation” or the “Corporation”) is proud to announce that it has recently renewed the operation, management and maintenance (“O&M”) contract with Monroe County, Georgia, USA, for an additional period of five years. This contract, valued at $3.3 M, brings the Corporation’s O&M backlog to $131.5 M. This renewal includes annual consumer price index (CPI) increases and the addition of one employee.

Monroe County is a long-time customer of H₂O Innovation and is considered one of the fastest growing communities in central Georgia, now serving over 3,800 customers. The team in charge of this contract worked diligently to manage this growth, which allowed the Corporation to renew, once again, the O&M contract for this municipality.

“We are delighted with this O&M contract renewal in Monroe County, which strengthens our presence in the State of Georgia, where we also have three other customers. From repairing water leaks to maintaining the distribution system, our team has made the difference with its unparalleled customer service,” said Frédéric Dugré, President and Chief Executive Officer of H₂O Innovation.

Prospective Disclosures
Certain statements set forth in this press release regarding the operations and 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. Such forward-looking statements include, but are not limited to, the effects of the integration of acquired business, the ability to achieve projected synergies, and the ability to maintain the distribution network. 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 27, 2021 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.

Source:
H₂O Innovation Inc.
www.h2oinnovation.com

Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com

FAQ

What is the value of H2O Innovation's renewed contract with Monroe County?

The renewed O&M contract with Monroe County is valued at $3.3 million.

What is the total O&M backlog of H2O Innovation after the contract renewal?

After the contract renewal, H2O Innovation's O&M backlog stands at $131.5 million.

How long is the renewed contract for H2O Innovation with Monroe County?

The renewed contract with Monroe County is for an additional five years.

What are the benefits included in H2O Innovation's contract with Monroe County?

The contract includes annual consumer price index increases and the addition of one employee.

How many customers does Monroe County serve that rely on H2O Innovation?

Monroe County serves over 3,800 customers who rely on H2O Innovation's services.