OTTAWA, Sept. 20, 2017
/CNW/ - Clearford Water Systems Inc. ("Clearford" or the
"Company"), (TSXV: CLI), today announced that it has signed a
Memorandum of Understanding (MOU) with Tata Projects Ltd. (TPL) to
promote implementation of Clearford's proprietary and award-winning
wastewater collection and treatment system
(Clearford One®) in India and other international markets.
Clearford is a recent winner of the Frost & Sullivan
2017 Global Enabling Technology Leadership Award and short-listed
for the India Sanitation Coalition (ISC) Sanitation
Awards 2017 Innovation Category.
TPL is an engineering, procurement and construction services
company of the Tata Group, and one of the fastest growing
infrastructure companies in India
reputed for its industrial and urban infrastructure projects that
leverage technology, advanced construction methods and
collaboration between diverse specialists to ensure quality and
execution of projects. Tata Group is one of India's largest and most respected business
groups with revenues of over $100 billion and over
581,000 employees worldwide.
Under the terms of the Agreement, TPL, Clearford and its
subsidiary Clearford India Private Ltd. will jointly pursue
opportunities to deliver the Clearford One®
wastewater system for projects in India and globally on a non-exclusive basis.
Project specific MOU's and agreements will be put in place between
the parties as individual projects are confirmed. Clearford and TPL
will undertake discussions with interested States to advance
opportunities for Clearford One® installations.
Initial efforts will be focused on the States of Tamil Nadu,
Punjab and Rajasthan.
"The Tata Group are committed to improving the quality of
life in the communities they serve, and Clearford is very pleased
that Tata Projects recognizes the success of our Jambudiyapura
project, the first open-defecation free sewered village in Gujarat
State, as a model solution with potential to improve public health
in a county where over 600 million people lack access to basic
sanitation," said Clearford's President & CEO Kevin Loiselle, speaking from Ottawa, Canada. "We believe that our
Clearford One® system and Tata Projects'
strength as one of the fastest growing infrastructure companies in
India is a winning
combination."
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as term defined in policies of TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
About Clearford Water Systems Inc.
Clearford Water Systems Inc. (TSX-V: CLI) 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.
About TATA Projects Limited
Tata Projects Limited is engaged in the engineering,
procurement, and construction of industrial infrastructure and
utility projects. It operates through four strategic business
units: Industrial Infrastructure; Urban Infrastructure; Quality
Services; and Utility Services. The Company provides end-to-end
solutions to set up power generation plants, power transmission and
distribution systems, fully integrated rail and metro systems,
commercial buildings and airports, chemical process plants, water
and wastewater management solutions, complete mining and metal
purification systems. The company was incorporated in 1979 and is
based in Hyderabad, India with a
branch office in Abu Dhabi, United Arab
Emirates. It has offices in Mumbai and Noida, India; and Nairobi,
Kenya.
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.