OTTAWA, March 14, 2016 /CNW/ - Clearford Water Systems Inc. a TSX Venture 50 Company ("Clearford" or the "Company"), (TSXV: CLI), today announced winning the Ontario Onsite Wastewater Association ("OOWA") 2016 Corporate Innovation Award, at OOWA's 17th Annual Conference held in Kingston on March 7th. The award was presented to Clearford in recognition of its innovative Pay for Performance (P4P™) financing model.
"The Pay for Performance financing model is a welcomed innovation to the wastewater infrastructure community", said OOWA's president Rick Esselment, "by bringing a financing component to the Clearford One™ packaged solution, Clearford continues to lead in developing innovative decentralized communal wastewater collection & treatment systems in Ontario", he continued.
"We are very pleased to receive this recognition from OOWA for our P4P™ and Clearford One™ offerings, we believe this combined offering has a significant role to play in addressing the wastewater infrastructure deficit that currently exists in Ontario." said Clearford CEO Kevin Loiselle, "OOWA is a dynamic forward looking association that has played an important role in supporting new technologies and practices for Ontario's wastewater companies, and we look forward working with them in the future."
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.
How Does Pay-for-Performance Work?
The proven efficiencies and reliability of Clearford One™ make it possible to build and operate sanitation infrastructure in Ontario with total assumption of risk by the private sector. This means a municipality of almost any size in Ontario can establish modern sewage collection and treatment infrastructure without incurring capital costs, or taking on construction and operating risk. Municipalities only pay for the results with monthly, per connection, fees that reflect substantially lower total costs compared to traditional sanitation infrastructure under direct municipal ownership. The Clearford One™ P4P is a Design-Build-Finance-Maintain-Transfer (DBFMT) funding model uniquely available to Ontario municipalities.
OOWA is a provincial not-for-profit association dedicated to promoting the benefit and value of onsite and decentralized wastewater management through education, improved standards of practice, and advocacy for sound policies across the province of Ontario.
About Clearford Water Systems Inc.
Clearford Water Systems. Clearford Water Systems Inc. (TSX-V: CLI) has been ranked in the top ten Clean Technology & Life Sciences Sector on the TSX Venture Exchange 50 and 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.
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, www.clearford.com