H2O Innovation wins international recognition, beats GE
With increased revenues by 40%, 2015 was a banner year for H2O Innovation Inc. (TSXV: HEO | OTCQX:HEOF).
The international community is also taking notice.
H2O Innovation Inc. received the Water Technology Company of the Year Award at the 2016 Global Water Awards, which took place in Abu Dhabi, United Arab Emirates. Former president of Mexico (2006-2012) chaired the event as the Chairman of the Global Commission on the Economy and Climate.
H2O Innovation bested 3 other nominees: GE Water and Process technologies—the water and fluid processing division of General Electric (NYSE: GE); IDE Technologies, an Israeli EPC contractor and developer of desalination plants with 50 years in the desalination business; and, SUEZ, a global water and waste management group.
The award was presented to H2O Innovation in recognition to its significant contribution as a global player in the water treatment industry in 2015. During the past year H2O Innovation has successfully distinguished itself from its competitors for providing improved water treatment and customer experience through its creativity and expertise in the development, integration and commercialization of its proprietary technologies such as FiberFlexTM, ClearlogxTM, SPMCTM, and SmartrekTM.
In January 2016 H2O Innovation commissioned the Clifton UF water treatment plant in Colorado—the first commercial installation using the company’s FiberFlexTM modules and subsequently received 15 new orders for the system. Together with advancing its core membrane business it made significant progress toward the development of smart solutions for plant operations.
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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. In 2014 it delivered 24 projects in North America, the largest one in support of Fort Hills Suncor operations in Alberta. The average sale price for these projects was $1.2 M.
Last year H2O Innovation was featured as an example of international success in a prestigious in-depth financial analysis published by Conference Board of Canada today titled: “Selling to the world: The keys to International Business Success.”
To understand the key to international success, The Conference Board researched 20 leading firms in international expansion, including for example IMAX Corporation, Ag Growth International, Westport Innovations Inc, Altus Group, including H2O Innovations. These companies’ revenues range in the $20 to $400 and all share tremendous success at taking Canadian innovation to the international scene.
As a rule Canadian innovation lags as compared to peer-country but not so as far as H2O innovation is concerned, which is why it warrants further analysis by The Conference Board.
With 168 employees in offices and/or facilities in Quebec City, Toronto, Minnesota, Calgary and San Diego this company’s potential for growth is worth watching because of its position in the water purification space.
Water filtration using membrane technology is a growth sector. The global demand for membrane filtration modules was estimated at approximately 15.6 billion USD in 2012. Driven by new developments and innovations in material science and process technologies, global increasing demands, new applications, and others, the market is expected to grow around 8% annually in the next years. It is forecast to increase to 21.22 billion USD in 2016 and reach 25 billion in 2018.
Dr. Luc C. Duchesne is a Speaker and Author with a PhD in Biochemistry. With three decades of scientific and business experience, he has published ... <Read more about Dr. Luc Duchesne>