H2O Innovation, a complete water solutions company, is launching its mobile fleet of water and wastewater treatment systems.
The company secured three new leasing contracts totaling $3.4 million for these systems, thanks to a $10 million increase in the corporation’s Blue Loan credit facility from the National Bank of Canada. The company’s blue line credit facility now stands at $75 million.
H2O Innovation offers two different types of mobile water treatment systems under its Water Technologies & Services business line:
- The FlexBoxTM line – containerized ultrafiltration (UF) or reverse osmosis (RO) systems designed for drinking water treatment, industrial wastewater, and water reuse
- SILOTM system – employs membrane bioreactor (MBR) technology and is designed for wastewater and water reuse treatment
The corporation has manufactured a fleet of nine mobile units over the last two years. Over the next five years, the corporation aims to reach 40 units to meet demand. It serves municipal and industrial water, wastewater, and water reuse customers.
“H2O Innovation’s mobile fleet of water and wastewater treatment systems provides versatile, practical, and timely solutions for clients in need, as they ensure immediate access to clean water and sanitation in temporary situations or emergencies,” Frédéric Dugré, president, CEO and co-founder of H2O Innovation, said in a statement. “With flexible lease options, the FlexBoxTM and SILOTM also offer a cost-effective alternative to purchasing complete systems, providing clients with the flexibility to optimize their CAPEX and OPEX budget as needed. The new credit facility will allow the expansion of our mobile fleet, which should help us improve our EBITDA margin profile.”
The company’s three new leasing contracts, totaling $3.4 million, include two FlexBoxTM UF units to be delivered and leased for an initial period of 18 months to a mining client in Eastern USA; a 12-month lease of two SILOTM units for a private sector client in Quebec; and a 24-month lease of a FlexBoxTM RO system to be deployed to a First Nation community in Western Canada.
“These three projects served as the driving force behind the Corporation’s decision to expand its mobile fleet, which will consist of 14 units,” the announcement stated.
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