OTTAWA, July 19 /CNW Telbec/ - Clearford Industries Inc. ("Clearford", TSX-V: CLI) today announced that their Small Bore Sewer(TM) (SBS(TM)) will be installed in Hinton, Alberta at Innovista, Canada's pioneering eco-industrial park, subject to definitive agreements and regulatory approval. Clearford is in final negotiations with Corix Utilities Inc. ("Corix") to deliver the SBS(TM) to Innovista under a license agreement using a design/build/operate/finance model.
"While this does not represent a material financial transaction, it does represent a significant advancement in our relationship with Corix and Eco-Industrial Solutions Ltd.," stated Bruce Linton, President and CEO of Clearford.
This project marks the first time the SBS(TM) technology is installed in Western Canada; Innovista will become a model for this sewer technology, which will be of interest to municipalities and developers seeking sustainable infrastructure. The SBS(TM) technology is particularly attractive to communities where service extension is costly, or there are local capacity issues. Innovista's design will reduce wastewater treatment plant costs by approximately 40%, and the SBS(TM) collection system is approximately half the cost of a traditional sanitary collection system.
"This is the biggest most innovative project a small western community has ever seen," exclaimed Hinton Mayor, Glenn Taylor. "The economic and environmental benefits are tangible - we are now Canada's leader in making sustainable industrial development a reality."
Corix also sees today's announcement as a very positive development for the proposed eco-industrial park.
"This is yet another step forward for this unique, leading edge initiative," said Eric Van Roon, Vice President, Business Development for Corix. "It is also the kind of sustainable solution that Corix likes to apply in its projects and systems, including the over 30 we have in Alberta."
Any forward looking statements made in this press release involve risks and uncertainties, and actual results could differ materially from those expressed or implied in such statements. However, we disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. More detailed information of the matters
described herein is included in the public documents Clearford files from
time to time with Canadian securities regulatory authorities.
About Clearford Industries Inc.
Clearford Industries Inc. is comprised of two divisions: the Wastewater Systems Division and the Brooklin Concrete Division. The Wastewater Systems Division designs and implements the patented Small Bore Sewer(TM) (SBS(TM)), a watertight small diameter wastewater collection system for developers, municipalities and First Nations communities who need to create, expand or upgrade their sewage systems. This solution provides servicing with superior operational and environmental performance at a significantly lower cost when compared to historic gravity sewers. With its first installation in 1989, the SBS(TM) has since had several installations within Canada and the U.S. The Brooklin Concrete Division has been in operation since 1952, with 4 locations in Ontario, including: Brooklin, Newmarket, Huntsville and Haliburton. A leading producer of septic tanks in Ontario, Brooklin manufactures precast concrete products ranging from interlocking pavers and patio slabs, to retaining walls and storage structures. For more information on Clearford Industries Inc., please visit www.clearford.com.
About Hinton and Innovista
The Town of Hinton is located along the Athabasca River, 29 km from the east gate of Jasper National Park and 287 km west of Edmonton. Innovista is a 108 acre greenfield industrial park. It will be home to light and medium industrial businesses, as well as more than a mile of walking (or cross-country skiing) trails. For more information, visit Innovista's website: www.eip.hinton.ca.
About Corix Utilities Inc.
Corix Utilities Inc. is part of the Corix Group of Companies, a B.C.- based provider of infrastructure solutions in the water, wastewater and energy sectors. It has over 1000 employees in 40 locations across North America. Corix is a private company whose primary owners are the BC Investment Management Corporation and CAI Capital Management Inc., two large and stable members of the Canadian investment community that represent leading Canadian pension funds and financial institutions.