H2O Innovation acquires Leader Evaporator Co., Inc.

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QUEBEC CITY, June 30, 2022 (GLOBE NEWSWIRE) — (TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Company”) is proud to announce that the acquisition of the business led by Leader Evaporator Co., Inc. (“Leader”) has closed today. Leader has been developing, manufacturing and selling maple syrup equipment and products for over 130 years to maple syrup producers located primarily in the United States.

Adding Leader activities to H2The current offer of maple syrup equipment from O Innovation will allow the Company to meet the needs of a greater number of maple syrup producers. This new alliance, which combines tradition and innovation, will strengthen the Company’s ability to support maple producers in their growth by offering everything from entry-level equipment for small producers to advanced technologies for larger producers. H2O Innovation’s in-depth knowledge of membrane filtration will also benefit Leader’s customers.

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“The Quebec maple syrup industry is doing extremely well, with production of more than 211 million pounds of maple syrup during the 2022 season. In the United States, the market trend is on the rise and generally follows that of Quebec. . The growing demand and the new quotas to be granted to Canadian producers allow us to conclude this strategic investment with optimism. This acquisition will also allow us to increase our manufacturing capacity by operating on both sides of the border, while optimizing our supply chain with key suppliers and consolidating our purchasing power,” said Frédéric Dugré, Chairman and CEO of H2O Innovation.

H2From now on, O Innovation and Leader maple syrup products and equipment will be offered through a larger distribution network in the United States, with nearly 80 distributors in 10 states.

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Forward-looking disclosures
Certain statements contained in this press release regarding the operations and activities of H2O Innovation and the Company’s other communications to the public more generally describing management’s objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of securities laws. These forward-looking statements include, but are not limited to, the effects of the integration of acquired businesses, the ability to realize projected synergies and the ability to maintain the distribution network. Forward-looking statements relate to analysis and other information based on expected future results, performance and achievements and the estimate of amounts that cannot yet be determined. These forward-looking statements, which are based on management’s current expectations, involve a number of known and unknown risks and uncertainties that could cause the actual and future results, performance and achievements of the Company to be materially different from such forward-looking statements. – look at the statements. Information on the risk factors to which the Company is exposed is provided in the annual information form dated September 27, 2021 available on SEDAR (www.sedar.com).

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About H.2O Innovation
Innovation is in our name, and it’s what drives the organization. H2O Innovation is a complete water solutions company focused on providing cutting-edge technologies and services to its customers. The Company’s activities are based on three pillars: (i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to provide equipment and services to municipal and industrial water, wastewater and water reuse, (ii) Specialty Products (SP) is a collection of companies that manufacture and supply a full range of specialty chemicals, consumables and engineered products for the global process industry water, and (iii) Operation & Maintenance (O&M) provides contracted operations and associated services for water and wastewater treatment systems. Through innovation, we strive to simplify water. For more information, visit www.h2oinnovation.com.

H2O Innovation Inc.

Marc Blanchet
+1 418-688-0170
[email protected]



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