H2O Innovation Adds Two New Projects Worth $2.2 Million

H₂O Innovation (TSXV:HEO) has announced two additional new water and wastewater projects in the US.
As quoted in the press release:

These new contracts, worth $2.2 M, will bring the Corporation’s project sales backlog to $51.9 M.
The first contract won by the Corporation consists of a 2-train packaged wastewater treatment system using membrane bioreactor (“MBR”) technology. This system will treat all of the wastewater generated at a State Park, located in the State of New York. The H₂O Innovation team will also take care of the operation and maintenance of this system during the first year of operation.
The second project, also located in the State of New York, will include both a packaged drinking water treatment system and a packaged wastewater treatment system. The 2-train drinking water treatment system is designed to treat surface water for the provision of potable water for a resort community. The packaged wastewater treatment system will also use MBR technology in order to provide treatment of the wastewater generated from the same resort.
“We are maintaining our momentum with the addition of new wastewater projects. Nearly 16% of our backlog value, or 34% in terms of number of projects, represent wastewater contracts, demonstrating excellent portfolio diversification and future improvement in gross margin, given that these projects typically have higher margins. Furthermore, we are happy to demonstrate, once again, the synergies within our business model by providing new MBR wastewater equipment and O&M services to the same plant”, stated Frédéric Dugré, President and CEO of H₂O Innovation.

Click here to read the full press release.