OTTAWA, Sept. 12, 2018 /CNW/ - Clearford Water Systems Inc. ("Clearford" or the "Company"), (TSXV: CLI), today announced that it has signed a contract to supply a state-of-the-art wastewater treatment facility for the new one-million-square-foot YOW1 Warehouse that will be constructed in Ottawa's east end on Boundary Road near Highway 417.
The Ottawa-based provider of water management solutions will design and build an advanced membrane bioreactor (MBR) wastewater treatment plant to process all the sewage generated by up to 1,000 workers when the new warehouse project is operational. The site requires its own treatment plant because it is located outside of the sanitary sewer service area for the City of Ottawa. The Clearford M-brane™ plant will achieve the highest level of treatment for environmental protection of local water resources.
The site developer, owner and constructor, Montreal-based Broccolini, selected the Company's water treatment subsidiary Clearford Koester Canada to provide a full turnkey solution including engineering, design, and installation of a Clearford packaged MBR plant. Installation of the plant is planned by the end of 2018, with commissioning in the spring of 2019. "Clearford's treatment technology and project delivery model fit our requirements and timeline for delivering an operational facility by 2019," said Broccolini's Project Manager.
"This is an exciting project to showcase Clearford's model for integrated water services in our own backyard," said Kevin Loiselle, President & CEO of Clearford. "Land developers, businesses, and municipalities are all benefitting from the innovative clean technology solutions being developed right here in Ottawa, Ontario."
Sustainable Water Investments Inc. ("SWI"), a Vancouver-based investment vehicle formed and capitalised by a European bond issuance platform, continues to support Clearford with the implementation of qualified water and wastewater-related infrastructure development projects, including ongoing operations and maintenance contracts, under Clearford's Pay-for-Performance (P4P®) delivery model, up to an aggregate value of $100 million (the "Project Finance Facility").
SWI was granted a right of first refusal on the financing of each qualified project until February 28, 2020. The Project Finance Facility continues to support the execution of the strategic business plan originally announced by the Company on June 22, 2017 and supplements the Company's recent acquisition of Koester Canada Inc. (now "Clearford Koester Canada") and its subsidiary, Team Aquatic Operations Group (now "Clearford Waterworks").
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.
About Clearford Water Systems Inc.
Clearford Water Systems is a provider of unified water management solutions for the design, deployment, finance and operation of water infrastructure systems. The Company's technology-based water solutions include Clearford One® wastewater infrastructure systems, Clearford M-brane™ packaged treatment solutions, and a full range of UV Pure® water disinfection products. Clearford is the winner of the Frost & Sullivan 2017 Enabling Technology Leadership Award for Global Decentralized Water & Wastewater Treatment. For more information, 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