Clearford Announces signing of first contract in India
Ottawa, Ontario – (September 20, 2010) – Clearford Industries Inc. (“Clearford” or the “Company”, TSX-V: CLI) today announced agreement with the Project Authority for two sites in Gurgoan, India, a suburb of Delhi. This agreement is for the residential areas of Sikandurpur and Nathupur Hill which have a total population of more than 200,000 people and currently have no functioning waste water collection system. Both communities are serviced with water providing approximately 70 liters of water per person per day.
Under the contract announced today Clearford will design the installation of SBS™ and specify environmental outcomes and turn-key construction costs. The agreement requires that the delivery phase of the contract be negotiated following completion and acceptance of the design phase, expected during the first quarter of 2011. Contract value of the delivery phase will be known only after the current phase is completed. The preliminary estimate of the delivery phase by Clearford indicates a total potential contract value of approximately $15 million for the initial 20,000 people in the two communities. The initial installation is intended to service 10,000 people in each community, demonstrating viability of the system for serving the balance of the
Point One Project Management Services PVT. LTD (“Point One”) is the authority responsible for designing and developing a Bio-Diversity park that will enable re-charging of the Gurgoan aquifer to occur for the surrounding residential community. Mr. Atal Kapoor, a Director of Point One commented “I am confident that the Clearford solution will be demonstrated as the most environmentally and economically responsible option for servicing these communities. The limited supply of water within the communities prevents the operation of sewer systems which convey solids to central treatment facilities.
The Clearford SBS™digests the solids in distributed anaerobic digesters, allowing bio-gas and water with very low suspended solids to be collected through small bore flexible pipes. The water can be efficiently treated and returned to the aquifer and the bio-gas provides energy to operate the system and export to the energy system of the communities”, he said. Bruce Linton, President of Clearford sees the Gurgoan requirement as typical of an urgent need throughout much of India. “According to a study in 2008 by the Joint Monitoring Programme for Water Supply and Sanitation, a program co-funded by the World Health Organization and UNICEF, over 70% of the population of India is without access to improved sanitation. The inability to use traditional collection and central treatment systems has been a barrier to resolving this problem. We are delighted to have the opportunity to meet this urgent need in Gurgoan and in doing so demonstrate the economic and environmental viability of the Clearford solution”, Mr. Linton said.
Clearford believes that significant and near term opportunities exist in India for the Company’s solution, however, there can be no assurance that customer agreements will be reached or that such agreements will be profitable should they be implemented. There can be no assurance at this time as to whether Clearford will be successful in being awarded the delivery phase of the Gurgoan project.
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 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 forwardlooking 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.
For further information:
Clearford Industries Inc.
Phone: (613) 762-8402