BluMetric Announces Wastewater Treatment System for Caribbean Private Island Development and New Lease to Expand U.S. Manufacturing
Rhea-AI Summary
BluMetric Environmental (TSXV: BLM, OTCQX: BLMWF) has secured a CA$1.2 million contract to supply a Membrane Bioreactor wastewater treatment system in the Bahamas, following a previous CA$3.6 million Sea Water Reverse Osmosis system project. The new system will treat 60,000 gallons of wastewater daily for a private island development.
The company has also signed a lease for a new 25,000 square foot manufacturing facility in Gainesville, Florida, significantly expanding from its current 10,000 square foot space. This expansion accommodates the workforce growth following the Gemini Water acquisition and enables handling larger contracts. The existing facility will remain operational until June 2025 to ensure a smooth transition.
Positive
- Secured new CA$1.2M contract for wastewater treatment system
- Previous CA$3.6M SWRO system project nearing completion
- Manufacturing capacity increased by 150% with new 25,000 sq ft facility
- Workforce doubled following Gemini Water acquisition
Negative
- Additional lease costs from running two facilities until June 2025
News Market Reaction
On the day this news was published, BLMWF declined 4.58%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Ottawa, Ontario--(Newsfile Corp. - February 5, 2025) - BluMetric Environmental Inc. (TSXV: BLM) (OTCQX: BLMWF) ("BluMetric" or "the Company"), a full-service environmental consulting and engineering cleantech firm, announced it has signed a follow-on contract to supply a Membrane Bioreactor (MBR) wastewater treatment system to the Exumas in the Bahamas for a private island development. The Company has also signed a new lease for a larger U.S. manufacturing facility in Gainesville, Florida.
The contract, valued at approximately CA
These systems showcase BluMetric's unique capabilities and offerings that provide a complete water and wastewater treatment solution. By deploying the most advanced technologies, customers can receive a cost-efficient and user-friendly potable water and wastewater treatment solution.
"We continue our sales traction with this most recent wastewater treatment plant contract," said Scott MacFabe, CEO of BluMetric. "It is an important distinction that we can offer a full portfolio of water treatment solutions for remote settings. Customers recognize this expertise, and we look forward to utilizing our expanded team and U.S. manufacturing footprint to support delivering systems with capacities of up to three million gallons per day."
It is expected that this project will be delivered and commissioned within the next twelve months. This order highlights the increasing need for improved water infrastructure in the Caribbean as the region sees increased development and groundwater scarcity.
In addition, BluMetric has signed a new lease for a larger, 25,000 square foot manufacturing facility in Gainesville, Florida to increase its capacity to service existing and potentially new contracts that are beyond the capacity of the current 10,000 square foot manufacturing space. This new space will also help accommodate the approximate doubling of the workforce since acquiring Gemini Water approximately four months ago.
BluMetric believes this will be an important part of Gemini Water's continued integration and ability to achieve growth targets. The existing facility in Gainesville, Florida will remain in operation until the end of its lease (in June 2025) to ensure continuity and a seamless transition.
About BluMetric Environmental Inc.
BluMetric Environmental Inc. is a publicly traded environmental consulting and engineering company with expertise across professional and trade disciplines and technologies that allow for the design, fabrication and delivery of sustainable solutions to environmental and water challenges. BluMetric has more than 220 employees operating in ten offices and over 45 years of expertise. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Military, Mining and Government clients.
For more information, visit www.blumetric.ca or please contact:
| Scott MacFabe, CEO | Dan Hilton, CFO |
| BluMetric Environmental Inc. | BluMetric Environmental Inc. |
| Tel: 1-877-487-8436 x242 | Tel: 1-877-487-8436 x550 |
| Email: smacfabe@blumetric.ca | Email: dhilton@blumetric.ca |
| Brandon Chow, Principal & Founder | |
| Panolia Investor Relations Inc. | |
| Tel: 1-647-598-8815 | |
| Email: brandon@panoliair.com |
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239816
FAQ
What is the value of BluMetric's (BLMWF) new wastewater treatment contract in the Bahamas?
How much larger is BluMetric's (BLMWF) new manufacturing facility in Florida?
What is the daily treatment capacity of BLMWF's new wastewater system in the Bahamas?
When will BluMetric (BLMWF) complete the transition to its new Florida facility?
How much was BluMetric's (BLMWF) previous SWRO system contract in the Bahamas worth?
