Piedmont Secures Nine FRP & Coupling Orders and Signs Five New Distribution Agreements in LATAM
QUEBEC CITY, Aug. 03, 2021 (GLOBE NEWSWIRE) — (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce that its Piedmont business line, a global leader in corrosion resistant equipment for desalination plants in the industrial and municipal markets, secured new orders for fiber reinforced polyester (“FRP”) cartridge filter housings and duplex stainless couplings, totalling $4.0 M. The team also signed five new distribution agreements in Latin America (“LATAM”).
Over the last quarter of FY2021, Piedmont was awarded the FRP cartridge filter housing and cartridge elements for a large-scale seawater reverse osmosis (“SWRO”) project in the Middle East with a total production capacity of 119 MGD (450,000 m3/day) and another one in Southeast Asia with a capacity of 26 MGD (100,000 m3/day).
Furthermore, Piedmont has signed up with five new distributors in Latin America and secured eight containers of flexible couplings and cartridge filter elements for local stock in the Latin American market through its existing and new distributor channels. “The recent addition of Alejandro Sturniolo to the H2O Innovation family has really helped to accelerate our growth in Latin America where he has been actively involved for the past 20 years. Him and Piedmont’s Sales Manager Leo Tua Parra are working extremely well together in that region, and we are delighted with their recent and foreseeable achievements”, stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation. “The new distributors that have been added to the network were carefully chosen because of their privileged position in their local market and their enthusiasm to represent the Piedmont brand that now is becoming increasingly recognized for their impressive portfolio of references which includes many of the largest desalination plants in the world. This enthusiasm materialized in immediate multiple container orders of our filtration products for local stock and supply. We are excited to see this acceleration of our business”, added Alejandro Sturniolo, Global Head of Water Reuse and Strategic Partnerships of H2O Innovation.
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. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 23, 2020 available on SEDAR (www.sedar.com).
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 www.piedmontpacific.com.
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 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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.
H2O Innovation Inc.