(TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Ember SPV I Purchaser Inc. (the “Purchaser”), an entity controlled by funds managed by Ember Infrastructure Management, LP (“Ember”), a New York-based private equity firm, whereby the Purchaser will acquire all of the issued and outstanding common shares in the capital of H2O Innovation (the “Shares”), other than the Shares to be rolled over by Investissement Québec (“IQ”), Caisse de dépôt et placement du Québec (“CDPQ”) and the key executives of the Corporation (collectively, the “Rollover Shareholders”), for $4.25 in cash (the “Consideration”) per Share (the “Transaction”).