QUEBEC CITY, April 19, 2021 (GLOBE NEWSWIRE) — (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce the expansion of its manufacturing plant in Ham-Nord (Quebec) to respond to the sustained growth of its Maple business line and the anticipated increase in water treatment project sales. Following the conclusion of a lease agreement, the new 21,390 square-foot space, adjacent to the current plant, will be ready as of May 1, 2021.
The H2O Innovation manufacturing plant located in Ham-Nord, near Victoriaville, is primarily responsible for the design of maple equipment and products as well as water and wastewater treatment systems. In recent years, the space available for manufacturing and storage had become insufficient and problematic. The increase of nearly 40% in manufacturing area in this location positions the Corporation to support future growth. The lease agreement for the new area is for an initial term of five (5) years with a renewal option for five (5) additional years.
This new location will allow workstations to be redesigned to support the continued growth of the Maple and Water Technologies & Services (“WTS”) business lines. The Corporation expects considerable productivity gains, better inventory management, and improved safety for employees who will be working in less congested spaces. Local teams will also be able to proceed with new hires to support the pace of project delivery.
“The Maple business line has had a superb season and we are really satisfied with the success of several new products this year. In accordance with our 3-Year Strategic Plan we intend to continue to expand our customer offering. We plan to also evolve in the food & beverage market by leveraging our expertise in the concentration of sugar solutions and the agricultural market where our technologies can optimize soil irrigation. This increase of our manufacturing capacity will allow us to better meet the future needs of our customers”, stated Frédéric Dugré, President and CEO of H2O Innovation.
Certain statements set forth in this press release regarding 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 Company 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 23, 2020 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) Operations & 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.
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