OTTAWA, Sept. 22, 2016 /CNW/ - Clearford Water Systems Inc. ("Clearford" or the "Company"), (TSXV: CLI), a TSX Venture 50 Company, today announced the signing of a one year contract to operate and maintain the Clearford One system in Jambudiyapura village in the Indian state of Gujarat. The contract is valued at Rs 4,40,507 (CAD $9,000).
"We are pleased to sign our first operation and maintenance contract in India" said Clearford CEO Kevin Loiselle, "securing operating contracts on our remarkably cost effective Clearford One systems is a natural step for Clearford to complete its service offering" he continued.
Clearford also announced today that it has engaged with the Tata Trusts to identify villages in the state of Gujarat to use their available CSR allocations to install Clearford's Total Sanitation Solution. It is expected that these projects will be delivered in a similar fashion as the recently completed project at Jambudiyapura near Baroda, Gujarat's first open-defecation free village. Currently discussions are underway to identify the first set of villages in Gujarat to be serviced with the Clearford One sanitation system. On completion of the first set of villages Clearford and Tata Trusts will look to work together to identify villages in other parts of India.
"The successful commissioning of our first Clearford One system in India has drawn a lot attention from large corporations in India that are looking to place their Corporate Social Responsibility (CSR) budgets in sanitation related projects" said Mr. Loiselle. "Tata Trusts has been following the progress of our Jambudiyapura project and are now interested in deploying some of their extensive CSR budget on Clearford One installations" he concluded.
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About Clearford Water Systems Inc.
Clearford Water Systems Inc. (TSX-V: CLI) is a provider of unified water management and sanitation systems based on Clearford One™. Clearford One™ is a proprietary system comprised of ClearDigest™ smart digester, ClearConvey™ small bore sewer, and ClearRecover™ final treatment facility. For more information on Clearford Water Systems, please visit www.clearford.com.
About Tata Group and Tata Trusts
Tata Group is an Indian multinational conglomerate holding company headquartered in Mumbai, Maharashtra, India. It was founded in 1868 by Jamsedji Tata. It is one of India's largest conglomerates. In 2014-15, the total revenue of Tata companies, was US$108 billion. The Tata founders bequeathed most of their personal wealth to the many trusts they created for the greater good of India and its people. Today, the Tata Trusts controls 66 percent of the shares of Tata Sons, the holding Tata company. The wealth that accrues from this asset supports an assortment of causes, institutions and individuals in a wide variety of areas. http://www.tata.com
Forward Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this news release, Clearford will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities law, the Company assumes no obligation to update or revise any forward looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: industry cyclicality; the ability to secure third party agreements; successful integration of Clearford's system with third party technology; competition; reduction in demand for products; collection from customers; relationships with suppliers; product liability; intellectual property; reliance on key personnel; environmental; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; income tax matters; credit facilities; availability and terms of financing; distribution of securities; restrictions on potential growth; effect of market interest rates on price of securities; and potential dilution.
SOURCE Clearford Water Systems Inc.
For further information: Kevin Loiselle, President & CEO, Clearford Water Systems Inc., Phone: (613) 599-6474 ext. 303