H2O Innovation Inc - HEOFF stock
About H2O Innovation[edit]
H2O Innovation, Inc. (TSX: HEO, OTC: HEOFF) was founded on August 23, 1995, and is headquartered in Quebec, Canada. The company is known to provide water treatment solutions based on membrane filtration technology. H2O Innovation has three key services, which include: Water Technologies & Services (WTS), Specialty Products (SP), and Operations & Maintenance (O&M). The Water Technologies and Services segment includes water, wastewater projects, and services. The Specialty Products segment includes maple equipment and products, specialty chemicals, consumables, and specialized products for the water treatment industry. The Operation and Maintenance Services segment refers to the services for water and wastewater treatment systems.[1]
Acquisition by Ember SPV[edit]
In December of 2023 H2O Innovation was acquired by New York-based private equity firm Ember SPV at a price of C$4.25 per share. Once the purchase is completed, shares will no longer trade on the Toronto Stock Exchange or OTCQX.[2]
Funding[edit]
Over the course of five rounds of investment, H2O Innovation has raised a total of $46.2 million. Their most recent round of investment was a Post-IPO Equity round on November 14, 2019. H2O Innovation is backed by a group of eight investors. The most recent investors include the Business Development Bank of Canada and Investissement Quebec. H2O innovation has made 11 Acquisitions, including names like Genesys and Hays Utility South Corp., but H2O's biggest acquisition has to be Utility Partners for 17 million.[3]
Operations[edit]
H2O Innovation Inc reported that its largest operation and maintenance ("O&M") customer, the City of Gulfport, Mississippi, extended its contract. This $11 million/year ($13.9 million CAD) renewal includes a solid waste collection and fleet management scope extension and annual consumer price index (CPI) adjustments. The $43.92 million contract ($55.5 CAD) extension raises the Corporation's O&M backlog to $103.67 million ($131 million CAD). The City also has the option of extending the contract for up to four further two-year renewal periods, bringing the total contract duration to 12 years.[4]
Leadership Team[edit]
The leadership team of H20 Innovation includes Frederic Dugre as the President and Chief Executive Officer with more than 20 years of experience in the management, financing, and business development of publicly traded companies. And Guillaume Clairet is the Chief Operating Officer with over eight years of experience and is an active member of IDA, AMTA & WEF.[5]
Competition[edit]
H2O innovation's key competitor includes Hydro Québec, who registered over $4325.6M in revenue last year, and Ovivo, a Montreal-based company with over $174.7M in revenue. Sofdesk, Edgehog Advanced Technologies, Equiterre, Sunforce, and Ouranos are also computing with H20 innovations offering similar services.[6]
- ↑ h2oinnovation.com. Home. Retrieved on 12/8/2023. Archive link.
- ↑ Businesswire. Ember Completes Acquisition of H2O Innovation. December 8, 2023.
- ↑ Crunchbase. H2O Innovation. Retrieved on 4/22/2023.
- ↑ Yahoo Finance. H2O Innovation Renews and Expands its Largest Operation and Maintenance Contract, adding $55.5 M to the Backlog. April 4. 2022.
- ↑ h2oinnovation.com. About Us / Team. Retrieved on 12/8/2023. Archive link.
- ↑ growjo.com. Overview. Retrieved on 12/8/2023.
OTC Symbol: HEOFF
