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h2o innovation inc (HEO) Snapshot

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03/11/14 - C$0.48
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h2o innovation inc (HEO) Details

H2O Innovation Inc. provides integrated technological water treatment solutions based on membrane filtration technology. The company designs, manufactures, and assembles custom-built water treatment systems for the production of drinking water and industrial process water, the reclamation and reuse of water, and the treatment of wastewater. Its products include pressure filters, ultrafiltration systems, NF and RO membranes, mobile and pilot units, Bio-Wheel biological treatment systems, Bio-Brane membrane bioreactors, and BiH2Omobile mobile wastewater treatment systems. The company is also involved in the design and production of seawater desalination systems, as well as provision of turnkey solutions. In addition, it provides membrane pretreatment chemicals, membrane cleaners, membrane preservatives, and coagulants and flocculants for maintaining and operating municipal, industrial, and commercial reverse osmosis systems. H2O Innovation Inc. serves municipalities and communities; mining, oil, and energy; pharmaceutical, hospital, and research; commercial and agrifood; and industrial and manufacturing sectors, as well as maple syrup industry in Canada, the United States, Tunisia, China, Egypt, and internationally. H2O Innovation Inc. was founded in 2000 and is headquartered in Quebec City, Canada.

130 Employees
Last Reported Date: 05/13/14
Founded in 2000

h2o innovation inc (HEO) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: C$278.5K
Vice President of Finance
Total Annual Compensation: C$140.0K
Executive Vice President
Total Annual Compensation: C$133.9K
Vice President of Corporate & Legal Affairs a...
Total Annual Compensation: C$133.9K
Compensation as of Fiscal Year 2013.

h2o innovation inc (HEO) Key Developments

H2O Innovation Wins $12 Million in New Contracts

H(2) O Innovation Inc. announced that it was recently awarded $12 million in new contracts, mainly in mining and municipal sectors. These new contracts bring the company's order backlog for water treatment projects to $40.5 million as of July 1, 2014, excluding backlog from its Specialty Products and Services division (PWT, Piedmont and H(2) O Innovation Maple). The entire order backlog will be executed over the next twenty-four (24) months. Amongst these contracts, one of them consists in the design, fabrication and commissioning of a complete water treatment plant on a mining site located in British Columbia, Canada. This water treatment plant dedicated to the treatment of mine tailings water comprises ultrafiltration (UF) and reverse osmosis (RO) systems. This water treatment plant will have a total capacity of permeate flow of 2.16 MGD (8,165 m(3) /day). As part of the UF pre-treatment system, H(2) O Innovation will supply its Fiberflex(TM) skid, which provides membranes interchangeability and accommodates several types of modules. As part of another mining project, which is located in the province of Quebec, Canada, H(2) O Innovation will supply a containerized potable water treatment system for a workers camp. This unit will produce 0.12 MGD (480 m(3) /day) of drinking water. A third contract with a Vancouver-based mining company consists in the design, fabrication and commissioning of a RO system to treat water from a tailings pond in order to remove arsenic and antimony and produce water meeting the environmental discharge criteria.

H2O Innovation Inc. Announces Signature of New Contracts for $8.8 Million

H2O Innovation Inc. announced hat it was recently awarded $8.8 million in new contracts. These new contracts bring the company's order backlog for water treatment projects to $31.6 million as of May 20, 2014, excluding backlog from its Specialty Products and Services division (PWT, Piedmont and H2 O Innovation Maple). Amongst the contracts announced the most significant is a 30 MGD (113,562 m3/day) hollow fiber ultrafiltration (UF) membrane system to replace the existing conventional Montevina Water Treatment Plant (WTP) owned and operated by the San Jose Water Company. The Montevina WTP will treat rainfall collected in the Santa Cruz Mountains watershed and provide potable water to the Town of Los Gatos and surrounding West Valley communities. For this design-build project, H2 O Innovation will team up with HDR Constructors Inc. and will be responsible for the design, fabrication, installation and commissioning of the new 30 MGD UF system.

H2O Innovation Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014

H2O Innovation Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2014. For the period, the company has posted Revenue was CAD 9,826,466 against CAD 9,966,644 a year ago. Net loss was CAD 216,314 or CAD 0.002 basic and diluted per share against net profit of CAD 86,384 or CAD 0.001 basic and diluted per share a year ago. Decrease of CAD 0.1 million or 1.4% is attributable to the lower level of revenues from projects deliveries and projects progress which is offset by the higher level of revenues from sales of specialty products and services. Adjusted EBITDA was CAD 299,122 against CAD 530,026 a year ago. For the nine months, the company has posted Revenue was CAD 26,935,113 against CAD 29,368,446 a year ago. Net loss was CAD 1,186,889 or CAD 0.015 basic and diluted per share against net profit of CAD 845,384 or CAD 0.014 basic and diluted per share a year ago. Adjusted EBITDA was CAD 278,613 against CAD 1,818,607 a year ago. Operating activities used CAD 298,938 in cash for the period ended March 31, 2014, compared with CAD 1,073,407 of cash used during the corresponding period ended March 31, 2013. The increase is mainly attributable to the decline in net loss in the third quarter of fiscal year 2014 as compared with the net earnings in corresponding period ended March 31, 2013 and to the less negative change in working capital items.


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