Seprotech receives $4.5M more for existing contract

OBJ Staff
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The Department of National Defence has increased the confirmed funding by $4.52 million for a Seprotech contract.

(Stock image)

The Ottawa wastewater treatment firm originally received a $14 million standing offer in June 2011 for an initial two-year period with three one-year options of $2.8 million each.

"The increase of $4.52 million combined with the unused budget for the 2011 FY (due to mid-year award of the contract) brings confirmed and immediately accessible funds to approximately $10.8 million of the $14 million total budgeted funds under the contract," Seprotech stated.

The final amount is subject to DND discretion, Seprotech added. 

Seprotech reported a first-quarter loss to start fiscal 2012, but showed a 30-per-cent improvement from a year earlier.

Geographic location: Ottawa

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