Ottawa’s Clearford Water Systems announced Wednesday a deal with Zurich-based Signina Capital AG worth $100 million that will see the Swiss investment firm fund all the capital costs associated with installing Clearford’s all-in-one wastewater collection and treatment system in municipalities across Ontario.
The deal will see a Canadian special purchase corporation (SPC) set up in each municipality, under a public private partnership model.
Clearford (TSXV: CLI) will get the contract with the SPC to design, build, operate, and maintain the collection and treatment system – known as the Clearford One – on a turnkey basis.
(Sponsored)
In a tough economy, investing in community is more important than ever
When finances are tight, it might seem counterintuitive to give back, but supporting our most vulnerable neighbours this holiday season can actually help businesses weather their own challenges. At United
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Each SPC will enter a 20 to 30 year contract with its respective municipality, with ownership of the wastewater infrastructure asset transferred to the municipality at no additional cost once the contract ends.
Signina’s chief investment officer, Martin Klöck, said his firm was pleased to be involved in the Clearford One rollout.
“We have been actively investing in Clearford since 2012, and have developed a high conviction in the company’s management, technology and prospects,” he said in a statement.
“The funding agreement will offer Ontario communities a cost effective new choice for their wastewater collection and treatment requirements,” Clearford president and CEO Kevin Loiselle said in a statement.
