Will Shares Jump on New Contract Awards?

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, April 6, 2023

The global water and wastewater treatment market is a multibillion dollar business. Not only is it a growing business, it is also profitable. And this company has recently been awarded multiple contracts.

H2O Innovation Inc. (TSX: HEO) (HEOFF) announced eight new water and wastewater treatment projects from its Water Technologies & Services business line. According to the press release, this includes six industrial projects with a total value of $8.4 M, increasing the business’s backlog to $56.0 M.

The most recent contract awards involves a 1.5 MGD (5,700 m 3 /day) ceramic ultrafiltration (UF) system for the Fort Berthold Indian Reservation in North Dakota that features high-water recovery rate of over 97%.

Canadian shares ended Wednesday at $2.69 and may look to be inching back up to their year-to-date high of $2.88.

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