San Diego’s Flagship Water Reuse Project Resumes
December 07 2021 - 7:00AM
(TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is pleased to announce that the water treatment
project with the City of San Diego, California, which was
temporarily suspended, is resuming its course. The contract value
went from $8.8 M in 2017 to $11.2 M today due to change orders
and price adjustments related to the inflation of raw material
costs. The total value was included in the Water Technologies and
Services business line backlog as of October 31, 2021, which
amounted $44.2 M.
Pure Water San Diego is the City of San Diego’s
multi-year program that will provide more than 40% of San Diego's
water supply by the end of 2035. The Pure Water San Diego treatment
plant, with a capacity of 30 MGD (113,560 m3/day), will use proven
water purification technology that will clean recycled water to
produce safe, high-quality drinking water. This infrastructure
project was developed to address the need for a new water supply,
thus making it possible to tackle the problems associated with
drought and to diversify the supply of drinking water. A pilot test
with a recycled water purification system of 1 MGD (3,785 m3/day)
was set up in 2009 and was operated for several years with the aim
of evaluating the feasibility of a full-scale reservoir
augmentation project.
“We are thrilled that the manufacturing of the
project is resuming. We have been involved with several landmark
water reuse projects in California, but this is our biggest
ultrafiltration reference to date”, stated Frédéric Dugré,
President and Chief Executive Officer of
H2O Innovation.
Prospective disclosuresCertain
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. 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., such as the Corporation’s ability
to execute, complete or deliver this project, in a timely manner
and without additional costs, mostly due to the challenges
resulting from the global supply chain, the labour shortage and the
Covid-19 pandemic. 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.
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.comContact: Marc
Blanchet+1 418-688-0170 marc.blanchet@h2oinnovation.com
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