Clearford Water Systems Inc. has announced that it has entered into a memorandum of understanding (MOU) with Sustainable Water Investments Inc., a Vancouver-based investment vehicle formed and capitalized by a European bond issuance platform.
Under the previous funding arrangement, Clearford was restricted to municipal servicing opportunities that met the credit ratings required by traditional lending facilities. The expanded agreement provides for far greater flexibility, and therefore opportunity, to serve Canadian private developments as well.
Sustainable Water Investments has agreed to arrange the financing of up to 100% of the capital costs associated with the implementation of certain qualified water and wastewater-related infrastructure development projects. These include ongoing operations and maintenance contracts, under Clearford’s delivery model, up to an aggregate value of $100 million. The funding also supplements Clearford’s recent acquisition of Koester Canada Inc. (now known as Clearford-Koester) and its subsidiary, Team Aquatic Operations Group (now known as Clearford Waterworks).
Clearford has also provided an update on its activities in the North American market. Clearford-Koester recently moved into a 30,000 square foot manufacturing facility and offices located in Hamilton, Ontario, which, along with integrated business and engineering support from other members of the Clearford group of companies, will allow the company to triple its production capacity for fabricating containerized and skid-mounted treatment solutions.
Opportunities in Ontario also continue to develop after the first two M-brane™ plants were delivered under contracts for the Fetherston mobile part servicing project in late 2015, as well as the $1.2 million landfill leachate treatment facility in Ontario in 2017. Clearford-Koester is the first contractor in Ontario to implement hybrid membrane technology from Ontario-based Fibracast and German-made industrial tubular membranes from Berghof Membranes.
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