- H2O Innovation Inc. has acquired NextEra Distributed Water through a carve-out transaction. - The sustainable wastewater treatment and reuse projects from NextEra will now operate under H2O Innovation's new Water Infrastructure & Development business line. - H2O Innovation has partnered with NextEra previously, delivering WaterHub assets at various locations without upfront capital costs. - The acquisition allows H2O Innovation to develop and own large-scale water infrastructure solutions in-house, accelerating its growth strategy. - The new team has extensive experience in water and energy management strategies, enhancing project delivery capabilities. - H2O Innovation will continue to offer solutions on a technology-agnostic basis, focusing on the best fit for projects. - Frédéric Dugré, CEO of H2O Innovation, emphasized the acquisition's alignment with the company's core values and dedication to sustainable water management. - Casey Allen will manage the new business as Group Vice President and Managing Director, supported by the existing leadership team. - The acquisition complements H2O Innovation's existing mobile water treatment systems, enhancing customer financing options. - Growth from the acquisition is supported by investments from Ember Infrastructure Management, CDPQ, and Investissement Québec. - H2O Innovation focuses on providing a range of water-related technologies and services across various industries.

H2O Innovation Acquires NextEra Distributed Water:

Transformative acquisition enables H2O Innovation to offer an expanded set of turn-key sustainable water treatment & reuse solutions at no capital cost to its clients

October 01, 2024 08:00 AM Eastern Daylight Time

QUEBEC CITY--(BUSINESS WIRE)--H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) today announced that it has acquired NextEra Distributed Water (the “Business”) via a carve-out transaction. Going forward, the Business and its portfolio of sustainable wastewater treatment and reuse projects will operate under the H2O Innovation brand as its newly formed Water Infrastructure & Development business line.

H2O Innovation has been delivering and operating WaterHub® assets (“WaterHubs”) through an existing commercial partnership with the Business for several years. WaterHubs are onsite wastewater treatment and reuse facilities deployed at a wide variety of sites including hospitals, universities, and other commercial & industrial locations that are delivered for no upfront capital cost to customers and operated under long-term contracts, offering reliable water management solutions that minimize risk, maximize financial savings, and enhance environmental stewardship. The acquisition allows H2O Innovation to bring this large-scale asset development and ownership capability in-house, significantly accelerating the Corporation’s intentions to build a leading water infrastructure solutions company and offering a new set of innovative financing solutions for its clients across North America.

The team joining H2O Innovation has extensive experience delivering compelling water and energy management strategies, including biological and process water treatment, water-based heat transfer, and central utility plant operations. The Business will now have access to the full resources of H2O Innovation, including design, engineering, system fabrication and installation, commissioning, operations, maintenance, and a full suite of consumables and other specialty products to enhance project delivery and capabilities. Importantly, H2O Innovation will continue to offer these solutions on a technology-agnostic basis, and the team will remain focused on “best fit” approaches across all aspects of project delivery, including the use of third-party vendors where products and services are preferable to those that can be offered in-house.

“This acquisition is a significant milestone for H2O Innovation. The holistic approach to sustainable water management offered by WaterHubs aligns seamlessly with our core values and expertise,” said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation. “By adding the Business to our portfolio, we are not only enhancing our capabilities but also creating unparalleled value for our customers and partners. Together, we will drive innovation and set new standards in our industry.”

The Business will continue to be managed by Casey Allen, who will serve as Group Vice President and Managing Director of Water Infrastructure & Development. Allen will remain supported by the same full leadership team including Bob Salvatelli, Director - WaterHub Origination, Daniel Allison, Director of Planning and Preconstruction, Eric Lohan, Technology Director, and Joseph Hamel, Director of Development as well as the full team of passionate and experienced staff that has driven success in the Business to date.

“We are excited to announce this transaction. Our customers can rest assured they will continue working with the same dedicated WaterHub team they have always relied on. By joining H2O Innovation, a group dedicated to sustainable water solutions, we are creating real value for our customers as we continue to develop WaterHub projects,” said Bob Salvatelli, Director - WaterHub Origination.

In the area of customer financing options, the large scale WaterHub offerings complement H2O Innovation’s existing mobile water treatment systems offered under short- and long-term leases: The FlexBox™ line, which is comprised of containerized ultrafiltration (UF) or reverse osmosis (RO) systems designed for drinking water treatment, industrial wastewater, and water reuse, as well as the SILO™ system, which employs membrane bioreactor (MBR) technology.

H2O Innovation’s growth, including the acquisition, is being supported via follow-on investment from funds managed by Ember Infrastructure Management, LP (“Ember”), the majority owner of H2O Innovation, as well as existing minority owners, including Caisse de dépôt et placement du Québec (“CDPQ”) and Investissement Québec (“IQ”).

About H2O Innovation Inc.

Innovation is in our name, and it is what drives the organization. H2O Innovation is a water solutions company focused on providing best-in-class technologies and services to its customers. The Corporation’s activities rely on four pillars: (i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers, (ii) Specialty Products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and components for the global water treatment industry, (iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems, and (iv) Maple and Agri-food, offering a complete line of equipment dedicated to maple syrup production and the agri-food industry. Through innovation, we strive to simplify water. For more information, visit H2O Innovation.

Contacts

Communications Department
+1 418-688-0170
communications@h2oinnovation.com
www.h2oinnovation.com