QUEBEC CITY, Quebec, July 24, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce its independent subsidiary, Piedmont, a global leader in corrosion resistant equipment for desalination plants in the industrial and municipal markets, secured during the fourth quarter of the fiscal year 2019 a record number of orders. Piedmont received orders from eight (8) medium-to-large scale desalination projects, with flow capacities ranging between 50,000 to 500,000 m3/day, for both its coupling and fiberglass (“FRP”) filter housing product lines.
Piedmont’s flexible couplings and cartridge filtration product line have been selected, on a combined basis, on more than 30 projects in nearly 20 countries over the five (5) continents. These projects amount to approximately $6.6 M in orders in the last fiscal quarter, many of which are to be delivered during the new fiscal year.
“The international desalination market looks very promising for the coming years, and thanks to this favorable situation, Piedmont is forecasting significant growth again this fiscal year. Out of the last ten (10) significant FRP filter housings projects that we have bid on at a global level, we have won seven (7), and our win rate for the flexible couplings business was even higher,” stated Ties Venema, Managing Director of Piedmont. “This confirms that our business model is working and that after only three (3) years, we have taken a leading position on the market for our new product line, the FRP cartridge filter housings. With that in mind, our expectations for the coming year are therefore set high for both product lines,” added Mr. Venema.
Over the next four (4) years in the Middle East new seawater desalination plants representing a total capacity of approximately 8,871,000 m3/day are forecast for construction. These new reverse osmosis (RO) systems represent a potential market of 430,000 flexible couplings, nearly 400 cartridge filter housings and approximately $550,000/day of antiscalant chemicals needed to protect the membranes in all those SWRO plants (Source: GWI/Desal Data). These products are offered by Piedmont's sister company: PWT. As for the North American market for seawater and brackish water desalination, it will continue to grow in the coming years, going from $1.1 B in 2019 to more than $1.5 B in 2024 (Source: GWI/Desal Data).
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 www.piedmontpacific.com.
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, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water & wastewater projects, and services; ii) specialty products, including a complete line of specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems. For more information, visit www.h2oinnovation.com.
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Source:
H2O Innovation Inc.
www.h2oinnovation.com
Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com