OTTAWA, Sept. 20, 2011 /CNW/ - Clearford Industries Inc. ("Clearford" or
the "Company") (TSXV:CLI) today announced that it has signed an
agreement with Lakepoint Builders Pvt. Ltd. ("Lakepoint"), a subsidiary
of the Hiranandani Group, for the first implementation of the Clearford
system in India.
The development, The Villas at Devanahalli (www.hiranandaniupscale.com) is a luxury development in Bengaluru, which is a suburb of Bangalore,
in southern India. This agreement covers the implementation of a
wastewater collection and treatment system for Phase I of the
development which includes 121 villas and cottages, a 140 unit
apartment building, a shopping complex and a club house. Phase I
represents approximately 25% of the planned development size.
The process of selection for the development required that Clearford
demonstrate a capital cost savings as compared to traditional sewer
collection and treatment methods and a lower ongoing operational cost.
Clearford and Lakepoint expect commencement of the system construction
in the fourth quarter of 2011 and conditional on entering into binding
Mr. Surendra Hiranandani, CEO and founder of Hiranandani Group stated
"My team and I have aggressively reviewed the Clearford solution,
including a site visit to one of their reference sites in Canada, and
we are certain this system is both ideal for our project and India at
large." Mr. Hiranandani further stated "I am proud to be introducing
the Clearford system to India and look forward to working with
Clearford to implement the system on my projects, with other developers
and in the municipal setting."
Mr. Bruce Linton, CEO of Clearford said "India is a priority market for
Clearford as it has both a booming residential development sector and a
major government priority on servicing existing communities. More than
600,000,000 people require sustainable sanitary infrastructure in
India." Commenting on Clearford's approach to the Indian market Mr.
Linton continued "In India, as in other countries, we seek a private
developer that has the vision required to implement superior solutions
and through the first project can enable Clearford to demonstrate the
many advantages of our system to both the private and public sector.
With Hiranandani we have found that leadership and we look forward to
both implementing our system in Bangalore and exploring business
opportunities in south India. Clearford and our partners recognize that
India represents a significant opportunity."
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 Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is the developer of the patented
Small Bore Sewer ™ (SBS™), a watertight small diameter wastewater
collection system that provides servicing with superior operational and
environmental performance at a significantly lower cost when compared
to historic gravity sewers. Clearford's SBS™ technology and industry
expertise provide the enabling platform to deliver, on a global basis,
turnkey, fixed-price wastewater collection, treatment and energy
generation solutions that are ideally suited for water-scarce regions,
those with unreliable water distribution networks, and new developments
seeking a greener approach to water and wastewater management. For
more information on Clearford, 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 managements 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
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 Industries Inc.
For further information:
President and CEO
Clearford Industries Inc.
Phone: (613) 599-6474 ext. 301