Piedmont Secures 13 New Orders Worth $9.3 M
All amounts in Canadian dollars unless otherwise stated.
QUEBEC CITY, Feb. 16, 2022 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce that its Piedmont business line, a global leader in corrosion resistant equipment for desalination plants in the industrial and municipal markets, has secured 13 new orders for fiber glass reinforced (“FRP”) cartridge filter housings, stainless steel duplex couplings, and PiPerLinkTM permeate connectors, for a total of $9.3 M. The revenue from the new sales will be recognized partially in this fiscal year with the remainder coming in the Corporation’s next fiscal year.
Over the past two months, Piedmont has experienced record sales for its seawater desalination products. Many of the orders placed included a variety of products from Piedmont’s FRP cartridge filter housings, cartridge elements, and flexible couplings product ranges. In a few cases, products from the Corporation’s Specialty Chemicals Group were being sold to the same customer or the same desalination project. The current projects span the globe from Latin America to North Africa, the Middle East and Asia. Piedmont also concluded its first sales of the PiPerLinkTM permeate connector, launched in November 2021.
“We are really excited to see the large number of projects and volume of business won by the dedication and hard work of the Piedmont team, especially considering the cross-business synergies with our Specialty Chemicals Group. Desalination is an important segment for the water industry, and we are optimistic about its growth. Piedmont’s backlog stands at a record level, boosted by our ability to manage costs and leverage our global Specialty Products distribution network. We continue to develop innovative products to complement our current portfolio, bringing to market unique solutions focused on energy and operating cost savings, living our mission to simplify water”, stated Gregory Madden, Chief Strategy Officer of H2O Innovation.
Prospective disclosures
Certain statements set forth in this press release regarding the operations and 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 Corporation to be materially different than the said forward-looking statements, such as the Corporation’s ability to execute, complete or deliver these projects, in due time and without additional costs, considering, amongst others, the supply chain challenges and the global context surrounding the Covid-19 pandemic. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 27, 2021 available on SEDAR ().
About Piedmont
Piedmont is a global leader in corrosion resistant equipment for desalination plants and meets critical customer demand for a wide range of applications in the industrial and municipal markets. For more information, visit
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.
Source:
H2O Innovation Inc.
Contact:
Marc Blanchet
+1 418-688-0170
