Water treatment technology firm Clearford (TSX-V: CLI) says it’s receiving a “positive response” to its installations in India and expects to land additional business in the South Asian country as it places a higher emphasis on sanitation and clean water.
The company made the comment as it released its first-quarter financial results that included a nine per cent drop in revenues to $836,768. Clearford attributed the decline to the substantial completion of several key projects in 2016.
The clean-tech firm cut its quarterly loss to $1.38 million, an improvement from its $1.59-million loss a year earlier.
Clearford’s primary offering is a decentralized sewage system that costs less to construct and operate than traditional installations. However, the bulk of the company’s revenues now come from selling purification systems that use ultraviolet transmittance technology.
"Ontario municipalities and private developments continue to be our primary focus.”
While the company is expecting to win more business in India, Clearford executives say their attention is concentrated on markets closer to home.
"Ontario municipalities and private developments continue to be our primary focus,” said Clearford president and CEO Kevin Loiselle in a statement. He noted that the province’s stringent wastewater discharge requirements, combined with several treatment plants reaching capacity, give communities an incentive to more closely consider Clearford’s solutions.
Clearford currently has about 30 full-time equivalent employees, including 16 in Ottawa.
The company’s shares were unchanged on the TSX Venture Exchange Wednesday at 9.5 cents.