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H2O Innovation Turns Positive In Last Few Minutes

H2O Innovation Inc (HEO.V), a water treatment solutions company, has turned positive in the last few minutes and is now up 2.5 cents at 33.5 cents, having been lower around 2pm ET and earlier touching a day low 26 cents, which was just above an existing year low of 25 cents struck earlier this month.

June 8, the company announced that it has been awarded a major $9.4 million contract by Fort Hills Energy L.P. for the Fort Hills Oil Sands Project operated by Suncor Energy Operations Inc. (SU.TO). This contract will see H2O Innovation design, build, install, and commission a water treatment package that will provide potable water for the workers of Fort Hills Project currently in development 90 kilometers north of Fort McMurray, Alberta. This contact brought H2O Innovation's sales backlog to a record high level of $29.2 million as of June 8, 2011, the company said in a statement.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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