QUEBEC CITY, QUEBEC — (Marketwire) — 10/19/11 — H2O Innovation Inc. (“H2O Innovation” or the “Company”) (TSX VENTURE: HEO)(ALTERNEXT: MNEMO:ALHEO) has been rewarded three times in the 2011 Deloitte Technology Fast 50 program, renewing its last year–s success. H2O Innovation ranks 28th among the Deloitte Technology Fast 50, which recognizes the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. H2O Innovation also wins, for the third year in a row, the prestigious Deloitte Technology Green 15 Award, an award created in 2007 to showcase 15 Canadian companies that are leading the way to create major breakthroughs in the field of green technology. Finally, H2O Innovation ranks 153th on Technology Fast 500, Deloitte–s ranking of 500 of the fastest growing technology media, telecommunications, life sciences and clean technology companies in North America.
For 14 years, the Deloitte Technology Fast 50 program has tracked the successful growth of Canadian-grown global leaders. Now Canada–s pre-eminent technology award program, the Deloitte Technology Fast 50 augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
“We are very proud to rank among North America–s growth leaders in the Deloitte Technology Fast 50 and Technology Fast 500. Being recognized three times eloquently acknowledges our growth over the last five years, a growth which is notably illustrated by the record high level of our backlog for water treatment systems in 2011. In addition, these distinctions confirm our position as a very significant player in the water treatment industry in North America, in particular on municipal, energy and mining markets. Based on this three-pillar growth-focused positioning and our synergetic business model, we will continue our growth and anticipate reaching profitability during the current fiscal year”, declared Frederic Dugre, President and CEO of H2O Innovation.
“Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery,” said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “H2O Innovation is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
To qualify for the Technology Green 15 Award, candidates must be headquartered in Canada and devote a significant portion of their operating revenues to creating proprietary technology and/or intellectual property.
For additional details on the Technology Fast 500 including selection and qualifying criteria, visit .
About the Deloitte Technology Fast 50 – The Deloitte Technology Fast 50 program is Canada–s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15 Awards (Canada–s leading GreenTech companies that promote a more efficient use and re-use of the earth–s resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit .
About H2O Innovation
Building on 11 years of experience, H2O Innovation provides integrated technological water treatment solutions based on membrane filtration technology to municipal, energy & mining end-users. H2O Innovation designs state-of-the-art custom-built water treatment systems for the production of drinking water and industrial process water, the reclamation and reuse of water, and the treatment of wastewater, while providing a complete line of specialty chemicals and consumables for membrane filtration and reverse osmosis systems. With more than 100 employees and seven locations in North America, H2O Innovation is also a founding partner of H2O Innovation India, a joint venture based in Mumbai, India. Shares of H2O Innovation are listed on the TSX Venture Exchange (HEO) and the NYSE Euronext Alternext Exchange (MNEMO: ALHEO). For more, visit .
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Contacts:
H2O Innovation Inc.
Guillaume Ducharme
+1 418-928-0234