Clearford Begins Registration Process for Carbon Credit Eligibility
Ottawa, Ontario – (August 23, 2011) – Clearford Industries Inc. (“Clearford” or the “Company”, TSX-V:CLI) today announced that it has retained L2I Financial Solutions (L2I) to actively manage the registration process of Clearford’s Small Bore Sewer™ (SBS™) to be verified as being eligible to attract carbon credits by the Executive Board of the United Nations Framework Convention on Climate Change (UNFCCC).
Clearford’s SBS™ System is designed for the distributed anaerobic disgestion of solid sewage and the centralized treatment of the liquids to be re-claimed. This allows for the capture of bio-gas, primarily consisting of methane, which can then used to generate electricity. The capture and conversion process reduces the emission of greenhouse gases by allowing the use of recovered methane to generate electricity instead of being released into the atmosphere. Methane emissions are generally accepted to be over 20 times more harmful to the environment than carbon dioxide.
“The carbon credit trading market is currently valued at over US$60 billion annually.” commented Clearford President and CEO Bruce Linton. “Our patented sanitary sewer system is unique in its potential to allow our customers to generate energy and carbon credits from its use that can more than offset the operational costs of the system. The carbon credit certification can allow our customers an option to monetize up to 10 years forward of carbon credits attributable to the use of our SBS™ which can be used to pay for the upfront financing of waste collection and treatment projects. This is especially important in the developing world, which is our core market, and where access to capital is scarce.”
“We are pleased to work with an innovative company like Clearford who is a leader in its industry. We look forward to further developing our relationship with Clearford to provide environmentally beneficial solutions for communities all around the world.” says Mr. Yves Legault, Vice President at L2I Financial Solutions.
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.
About L2I Financial Solutions.
L2I is a leading player in the field of alternative financing, climate and environmental finance. L2I designs, develops and delivers innovative and sustainable financial solutions for established or rising small and medium size companies that are key players of the low carbon and knowledge based economy. L2I works with a wide spectrum of companies such as waste management, real estate, service, manufactures as well as energy and resource driven companies. The firm’s aim is to support growth and new ventures by using alternative sources of financing such as: climate finance including carbon, biodiversity and renewable finance, government assistance, structured financing as well as international financing. L2I’s input is an important trigger to close large and complex financings because we provide leverage for investment. For more information on L2I, please visit www.l2isolutions.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 managements 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.
For more information contact:
For further information:
Clearford Industries Inc.
Phone: (613) 762-8402
President & CEO
L2I Financial Solutions