H2O Innovation’s membrane technology treats salt water, surface water and groundwater.
Photo: H2O Innovation
QUEBEC CITY: H2O Innovation Inc. and Chembond Chemicals Ltd. of Mumbai, India, a manufacturer and supplier of specialty performance chemicals for industries, are hooking up to create H2O Innovation India Ltd.
The joint venture company will provide water treatment systems and maintenance services to the Indian industrial and commercial markets for the production of boiler feed and process water, industrial wastewater reclamation and reuse, and wastewater treatment.
Chembond will own 51% of the shares of the joint venture and H2O Innovation, a provider of water treatment technologies based in Quebec City, will own the remaining 49 per cent.
The joint venture will operate out of facilities located in Chembond’s centre in Mumbai and focus exclusively on capital equipment sales in the Indian industrial and commercial water treatment market estimated to be US$320 million and growing at a compounded annual rate of 10.5% (according to Global Water Intelligence’s Global Water Market 2008).