QUEBEC CITY--(BUSINESS WIRE)--H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce that it has entered into an agreement with National Bank of Canada, acting as lead arranger, sole bookrunner, administrative agent and Sustainability Structuring Agent of a syndicate of three banks including Scotiabank and the Toronto-Dominion Bank, to increase the Corporation’s revolving credit facility to $85M, a rise of $30M since the previous loan increase. H2O Innovation’s inaugural Blue Loan was inspired by the Guidelines for Blue Finance developed by the International Finance Corporation in January 2022 and is specifically designed to support investment in ocean-friendly projects and critical clean water resource protection.
This loan will allow H2O Innovation to accelerate its growth and continue the diversification of its activities to different markets. With this increased credit facility, the Corporation will be poised to expand its manufacturing capabilities to respond to the growth of its Water Technologies & Services (WTS) business line and to further develop its mobile fleet capacity to meet the rising demand for such units. Moreover, it will enable the Corporation to prepare for tuck-in acquisitions and continue its strategy of consolidation of the water industry.
“This new share of the credit facility will allow our different pillars to grow through mergers and acquisitions as well as investment in capital expenditures. As we work towards a five-year growth plan, this agreement creates new opportunities for us to reach our goals. This will provide not only increased flexibility but also gains in efficiency,” stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
About H2O Innovation
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 three 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, and (iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems. Through innovation, we strive to simplify water. For more information, visit www.h2oinnovation.com.
Source:
H2O Innovation Inc.
www.h2oinnovation.com
