QUEBEC CITY, QUEBEC--(Marketwire - Nov. 29, 2007) - H2O Innovation (2000) Inc. ("H2O")(TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) is pleased to announce the opening of its business office in Calgary. On November 28, 2007, H2O completed the assets acquisition of Sigma Environmental Solutions Inc. (www.sigmaenv.com) ("Sigma") and the hiring of its executives. Its presence in Alberta will enable H2O to strengthen its offer to the oil and mining industry and respond to strong market requirements.
With this acquisition, H2O is positioned in the fast growing water market for oil and mining projects in this region of Canada. H2O intends to boost and strengthen the business development initiated by Sigma and enable the new entity to better respond to customer requirements.
"By means of this transaction, H2O will increase its sales force in Western Canada. This new business place will target offering wastewater and drinkable water treatment systems, especially to the numerous oil industry workers camps. The systems for the Albertan market will be built in H2O's Ham-Nord manufacturing facility, thus reducing production costs in comparison with local competition and allow H2O to offer improved delivery lead-times and quality control to the benefit of its customers. Moreover, the manufacture of the first project for the oil industry workers camp is scheduled over the next months", commented Frederic Dugre, Executive Vice-President of H2O.
The opening of this new business office represents a $500,000 investment over the next year, including in particular the acquisition of Sigma assets, the hiring of three experienced people and the operation of the Calgary office with technical and commercial resources in support of business development and project completion.
H2O pursue its market development and increases its presence in North-America with a complete portfolio of membrane filtration technologies. H2O mission is to develop, manufacture and market innovative, environment-friendly, products intended for drinking water production, wastewater treatment and industrial processes.
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H2O Innovation (2000) Inc.
President and Chief Executive Officer