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.
About OOWA
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.
