I think you are mixing apples and oranges. Yes: I agree there is a need for water treatment. And yes, I agree there is funding available for water remediation. But you have concluded that BWTR is the one who will get that business, win contracts, and make profits, and that's where we diverge. The URL you site is from the company's web site. The story sites remediation contracts w/ Cal Water going back to 2002. However, BWTR's revenue and backlog have been shrinking, not growing. Operating losses have been growing. So, while they may have started doing business and had contracts with Cal Water starting SIX years ago, either the contracts have failed to generate substantial revenues, or are highly unprofitable for BWTR, or both.
Contracts? Apparently yes. A real business that generates profitable revenues and grows? Apparently not. Check: