H2O Innovation Officializes the Launch of its Mobile Fleet and Increases Blue Loan Credit Facility by $10 M to Support it
13 Luglio 2023 - 2:00PM
Business Wire
All amounts are in Canadian dollars unless otherwise stated.
(TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the
“Corporation”) is pleased to launch its mobile fleet of water and
wastewater treatment systems and secure three new leasing contracts
totalling $3.4 M. This new service offering will require CAPEX
investment, which is made possible by the recent agreement with
National Bank of Canada on June 30, 2023. This agreement led to a
$10 M increase in the Corporation’s Blue Loan credit facility,
which now stands at $75 M. This strategic initiative should enable
H2O Innovation to broaden its range of services, strengthen its
customer relationships through the sale of consumables required to
operate the fleet assets, and thus improve its profit margins.
As part of its mission to offer comprehensive solutions for
industrial and municipal clients in North America, H2O Innovation
is launching its mobile fleet of water and wastewater treatment
systems, under the Corporation’s Water Technologies & Services
(WTS) business line. The Corporation designs and manufactures two
different types of mobile water treatment systems: the FlexBoxTM
line, which comprises containerized ultrafiltration (UF) or reverse
osmosis (RO) systems designed for drinking water treatment,
industrial wastewater and water reuse, as well as the SILOTM
system, which employs membrane bioreactor (MBR) technology and is
specifically designed for wastewater and water reuse treatment.
Over the last two years, H2O Innovation has manufactured a fleet of
9 mobile units. Due to the demand in this market sector, the
Corporation is expanding its fleet with the objective of reaching
40 units within the next five years.
“H2O Innovation’s mobile fleet of water and wastewater treatment
systems provides versatile, practical, and timely solutions for
clients in need, as they ensure immediate access to clean water and
sanitation in temporary situations or emergencies. With flexible
lease options, the FlexBoxTM and SILOTM also offer a cost-effective
alternative to purchasing complete systems, providing clients with
the flexibility to optimize their CAPEX and OPEX budget as needed.
The new credit facility will allow the expansion of our mobile
fleet, which should help us improve our EBITDA margin profile,”
stated Frédéric Dugré, President, Chief Executive Officer and
co-Founder of H2O Innovation.
Recently, the Corporation was awarded three new contracts for
the supply of mobile units, including the FlexBoxTM RO, FlexBoxTM
UF, and SILOTM technologies for an aggregate value of $3.4 M. Once
designed and manufactured, two FlexBoxTM UF units will be delivered
and leased for an initial period of 18 months to a mining client in
Eastern USA. The second project awarded to the Corporation is for a
12-month lease of two SILOTM units for a private sector client in
Quebec. Finally, the third contract involves the 24-month lease of
a FlexBoxTM RO system to be deployed to a First Nation community in
Western Canada.
These three projects served as the driving force behind the
Corporation's decision to expand its mobile fleet, which will
consist of 14 units. The need for an increased capacity and
availability became evident and prompted H2O Innovation to take
action. A larger fleet will allow the Corporation to better meet
the growing demand and provide its clients with access to safe
water and sanitation whenever and wherever they require it.
Prospective disclosures Certain information and
statements contained in this press release and in other
Corporation’s oral and written public communications regarding the
Corporation’s business and activities and/or describing
management’s objectives, projections, estimates, expectations or
forecasts may constitute forward-looking statements within the
meaning of the applicable securities legislation. Forward-looking
statements include the use of words such as “plan”, “should” or
“will”, and other similar expressions, as well as those usually
used in the future and the conditional, although not all
forward-looking statements include such words. H2O Innovation would
like to point out that forward-looking statements involve a number
of uncertainties, known and unknown risks and other factors which
may cause the actual results, performance or achievements of the
Corporation, or of its industry, to materially differ from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Major factors that may lead to a
material difference between the Corporation’s actual results and
the projections or expectations set forth in the forward-looking
statements include, without limitation, the execution and delivery
of projects in a timely manner and without additional costs,
considering the challenges resulting from the labor shortage and
the inflation rate on goods and services, the payment by customers
under the terms provided in their respective agreements, the risks
related to the development of new technologies and products, the
risks related to interest rate fluctuations, the Corporation’s
ability to repay its credit facility and such other risks as
described in the Corporation’s Annual Information Form dated
September 27, 2022, which is available on SEDAR (www.sedar.com).
The forward-looking information contained in this press release is
based on information available as of the date of the release and is
subject to change after this date. Unless otherwise required by the
applicable securities laws, H2O Innovation disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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
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version on businesswire.com: https://www.businesswire.com/news/home/20230713334844/en/
Marc Blanchet +1 418-688-0170
marc.blanchet@h2oinnovation.com
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