Clearford One Water Systems (
TSX: V.CLI,
Forum) made considerable progress today in advancing the delivery of its response to the RFP issued by the Township of Adjala-Tosorontio in the province of Ontario.
According to the
news release, Clearford was able to secure funding for the capital costs to deliver the company’s proposal regarding a wastewater collection and treatment solution for the township.
The deadline response date has been extended to September 16, 2016.
Swiss structured asset management firm, Signina Capital AG, confirmed the acceptance of the project for funding under the previously announced $100.0 million Pay for Performance (P4P) agreement between Signina and Clearford. As stipulated by the aforementioned agreement, Signina must approve each project for funding.
The RFP calls for the servicing of 1,366 equivalent residential lots under Design, Build, Operate and Maintain Agreements, with quarterly payments coming from the township over a 25-year period following the completion of the capital works and commencement of operations of the system.
Clearford is one of two qualified proponents invited to respond to the RFP after the Request for Expression of Interest was issued by the township in 2015.
The release went on to note that the current agreement between Signina and Clearford which was limited to Ontario, has been expanded to include potential projects across the country. Total funding for the agreement will also grow from $100.0 million to $250.0 million for commitments made prior to August 15, 2016.
Clearford One Water Systems was in the news recently when
the Ottawa-based company announced its Q2 2016 financial results at the end of July.
Currently there are 87.54m outstanding shares with a market cap of $13.57 million.
FULL DISCLOSURE: Clearford Water Systems is a Stockhouse Publishing client.