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H2O Innovation Inc. - HEOFF STOCK NEWS

Welcome to our dedicated page for H2O Innovation news (Ticker: heoff), a resource for investors and traders seeking the latest updates and insights on H2O Innovation stock.

H2O Innovation Inc. (HEOFF) delivers essential water treatment solutions across municipal, industrial, and commercial sectors worldwide. This dedicated news hub provides investors and industry professionals with comprehensive updates on the company's strategic initiatives and market position.

Access real-time announcements including quarterly financial results, technology innovations, and major project awards. Our curated feed simplifies tracking of HEOFF's advancements in membrane filtration, desalination systems, and sustainable wastewater management solutions.

Discover operational updates spanning contract milestones, partnership developments, and environmental compliance achievements. All content is verified from primary sources to ensure accuracy for investment research and competitive analysis.

Bookmark this page for streamlined monitoring of H2O Innovation's global expansion and industry leadership in eco-conscious water technologies. Check regularly for objective reporting on operational developments affecting long-term growth prospects.

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H2O Innovation Inc. has recently secured 10 new projects worth $4.5 million, boosting its Water Technologies & Services backlog to $35 million. Notable projects include a water treatment system for an automotive client featuring reverse osmosis technology and a system for a mining company in Quebec that delivers drinking water using multimedia filters. Additionally, the company has diversified its portfolio with various municipal and industrial contracts, including ceramic membrane projects. Management is optimistic, highlighting potential for higher profit margins.

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H2O Innovation has granted 1,056,000 stock options to senior management, with a five-year vesting period. These options allow holders to acquire shares at $2.55 before May 17, 2031. Currently, the company has 3,359,334 options outstanding from a maximum of 4,000,000. This strategy aims to attract and retain talent while promoting long-term growth and shareholder value.

The company operates in water technologies, specialty products, and offers operational services, focusing on innovative solutions in the water treatment sector.

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H2O Innovation reported strong financial results for Q3 fiscal 2021, achieving a revenue of $39.2M, an 8.6% increase year-over-year. The company acquired the remaining 76% of Genesys Membrane Products to enhance its lab services and expand in Latin America. Net earnings turned positive at $2.1M, compared to a $3.1M loss in Q3 2020. Adjusted EBITDA rose to $4.5M at 11.5% of revenues. H2O Innovation's net debt decreased to $3.3M, with operating cash flow at $10.2M for the quarter. Overall, the results indicate a solid growth trajectory amidst ongoing challenges.

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H2O Innovation has secured two new projects and renewed four Operation & Maintenance (O&M) contracts in North America, totaling $3.3 million. This has increased the O&M backlog to $63.5 million. The new MUD project in Texas represents an evergreen contract, while the Calgary facility features the largest membrane bioreactor operated by the company, processing 4,000 m3/day of industrial effluent. Additionally, four municipal O&M contracts in Vermont were extended, with the first renewed for five years and others adjusted for CPI.

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On May 10, 2021, H2O Innovation announced the completion of two new projects and the renewal of four Operation & Maintenance (O&M) contracts in North America, totaling $3.3 million. This brings the O&M backlog to $77.3 million. The new projects include an evergreen contract for a Municipal Utility District in Texas and the management of a membrane bioreactor in Calgary, Alberta. The renewed contracts in Vermont include extensions of five years and one year. The company is optimistic about growth, particularly in Western Canada.

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H2O Innovation is expanding its reach in the Latin American (LATAM) and North American water reuse markets, aligning with its 3-Year Strategic Plan. Following the acquisition of Genesys Membrane Products, the company is establishing new relationships with OEMs in LATAM, increasing its distributor network to over 20. In the U.S., the Biden Administration's $110 billion water infrastructure plan presents opportunities for H2O Innovation, particularly in water reuse. Alejandro Sturniolo has been appointed Global Head of Water Reuse to lead these initiatives.

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H2O Innovation will announce its Q3 2021 financial results on May 13, 2021, at 8:00 a.m. (EDT). A conference call will follow at 10:00 a.m. (EDT), featuring a presentation by management and a question-and-answer session. The call is aimed at financial analysts and investors, and a slide presentation will be available online. H2O Innovation specializes in water solutions, offering technologies and services for municipal and industrial clients, including water treatment and specialty chemicals.

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H2O Innovation has announced the expansion of its manufacturing facility in Ham-Nord, Quebec, to accommodate growth in its Maple business line and anticipated increases in water treatment project sales. The new 21,390 square-foot space will be ready by May 1, 2021, increasing the manufacturing area by nearly 40%. This expansion aims to enhance productivity, inventory management, and employee safety. The lease agreement spans five years with a renewal option. The company plans to leverage this capacity to meet future customer needs and expand into food & beverage and agriculture markets.

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H2O Innovation reported a 4.9% revenue growth for Q2 FY2021, reaching $35.0M, driven by acquisitions, notably Gulf Utility Services. The gross profit margin improved to 26.8%, up from 24.8% year-over-year. Adjusted EBITDA surged 54% to $3.6M, representing 10.2% of revenues. Net earnings stood at $0.3M, a recovery from a net loss of ($0.9M) for the same period last year. The company also announced an acquisition of 76% of Genesys Membrane Products to enhance its offerings in the specialty chemicals sector, particularly in Latin America.

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FAQ

What is the market cap of H2O Innovation (heoff)?

The market cap of H2O Innovation (heoff) is approximately 281.6M.
H2O Innovation Inc.

OTC:HEOFF

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HEOFF Stock Data

281.64M
77.16M
4.91%
20.08%
Utilities - Regulated Water
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Canada
Quebec City