US$ 8 million contracts boost for H2O Innovation
Quebec-based H2O Innovation Inc announced new contracts for desalination and water treatment systems totaling Can$ 7.8 million (US$ 8 million) on 24 March 2011.The end-users are power generation and industrial end-users in Northern Africa, Russia, and North America.
Approximately half of the total value of the contracts announced today relates to an award by a world-leading engineering procurement construction firm headquartered in Canada covering supply of desalination and demineralization systems to be installed at a power generation plant currently under construction in a Northern African country.
As part of another contract, H2O Innovation will design, build and deliver a multi-skid two-pass reverse-osmosis (RO) system to an independent oil and gas production company for installation on a production site located in California. The system will produce high quality industrial process water for the production of steam used in the oil-extraction process.
A third contract will see the company design, build and supply two RO produced- water treatment systems to a Canadian company active in the modernization of petrochemical plants in Russia.
"These contracts reaffirm the strong revival that the industrial market for water treatment systems is experiencing. This represents the highest level of new bookings we have recorded in a quarter in two years and brings our sales backlog to its highest since the first quarter of fiscal 2010, 15 months ago", stated Frédéric Dugré, President and CEO of H2O Innovation.
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