TSXV: HEO
Alternext: MNEMO:
ALHEO
OTCQX : HEOFF
QUEBEC CITY, Feb. 29, 2016 /CNW Telbec/ - (TSXV: HEO) –
H2O Innovation Inc. ("H2O Innovation" or the
"Company") is proud to announce it is expanding its business
activities in Mexico through a
partnership agreement to use the technologies, the experience, and
the references of the projects completed by the Company.
The new Mexican entity, H2O Innovación de Mexico S.A.
de C.V. ("H2O Innovación Mexico"), will be under the leadership of Sr.
Diego Pasadas, a chemical engineer
with 19 years of experience in the water treatment industry, most
notably in membrane filtration. "It is an honor and challenge for
my organization to represent H2O Innovation in
Mexico. Our solid business
relationship in the past has brought us to this new enterprise with
a common goal: to grow the municipal, industrial, and
desalination water business even more, and combining our efforts to
offer better cost effective technologies to our Mexican customers",
added Diego Pasadas,
Director. Through a royalty agreement paid to H2O
Innovation, this Mexican entity will benefit from the latest
innovations, products and technologies offered by the Company. More
significantly, H2O Innovación Mexico will be able to use the Company's
multiple references allowing it to quickly win new projects in this
growing territory.
In order to meet the sustained demand for water, wastewater and
desalination treatment systems, the new Mexican government proposed
a five-year investment plan of $32
billion to develop water treatment infrastructure (GWI, The
Global Water Market in 2015). This major investment plan will
enable H2O Innovación Mexico to set itself up favorably in
Mexico through new projects and
operation and maintenance contracts. The operations of
H2O Innovación Mexico
will be based in a new manufacturing and assembly plant in
Monterrey, supported by regional
offices in Cancun and Cabo.
"We are delighted to partner up with a trusted ally already
established in Mexico. We are now
proposing a unique business model that will allow H2O
Innovation to expand its business in a high growth market without
adding to its current cost structure. We strongly believe that this
could have a positive impact on the financial results (EBITDA and
net profit) within the first 12 months", stated Frédéric Dugré,
President and Chief Executive Officer of H2O
Innovation.
About H2O Innovation
H2O Innovation designs and provides state-of-the-art,
custom-built, and integrated water treatment solutions based on
membrane filtration technology for municipal, energy and natural
resources end-users. Also, directly and through its affiliates,
H2O Innovation provides products and services
complementary to its membrane filtration and reverse osmosis
systems. These products consist of a complete line of specialty
chemicals, consumables and couplings. For more information, visit
www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the Alternext Exchange accepts responsibility
for the adequacy or accuracy of this release.
SOURCE H2O Innovation Inc.