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H2O Innovation (TSXV:HEO) signs a $5.0M operations & maintenance contract

Utility
TSXV:HEO
23 June 2021 09:00 (EDT)

H2O Innovation has been awarded the Operations and Maintenance (O&M) contract for the Town of Warren, Rhode Island with a total value of $5.0 M.

The new contract includes the supply of operation and maintenance services for a 2 MGD (7,571 m/day) wastewater treatment facility and pumping stations for a 5-year period and adds 6 new employees to the O&M team.

The contract, which officially begins on July 1st, 2021, is remarkable because in 1980 Warren became only the second city in the United States to privatize its operations.

“This contract holds not only historical significance for the contract operations industry, but also strategic significance for H2O Innovation in that it continues to build our O&M presence in the Northeast US where we have a strong customer base. Our team knows the treatment plant and surrounding area well, and we are excited to have won the contract. In the coming weeks, we will leverage the knowledge and expertise of our existing staff and startup team to smoothly transition operations to H2O Innovation”, stated Gregory Madden, Chief Strategy Officer of H2O Innovation.

H2O Innovation is a Canada-based company engaged in providing water treatment solutions based on membrane filtration technology for municipal, energy, and natural resources end-users.

H2O Innovation Inc. opened trading at C$2.17 per share.

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