Clearford wins corporate innovation award at Ontario Onsite Wastewater Association Conference
The award was presented to Clearford in recognition of its innovative Pay for Performance (P4P™) financing model.
OTTAWA, Canada, March 14, 2016-- 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'swastewater 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.