Clearford Water Systems announced Tuesday its funding agreement with Signina Capital AG has been extended for another two years.
“We are pleased to report another milestone in the transition of the company into growth,” Clearford CEO Kevin Loiselle said in a statement.
Signina, a Swiss firm with a focus on water-related infrastructure, will fund the capital costs of installing Clearford’s wastewater collection and treatment systems in municipalities across the province.
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Since the middle of last year, Clearford has developed a project pipeline with a $40-million cap value. It said it has received “expressions of interest” that would exceed the original $100-million funding agreement.
The additional funding announced Tuesday will help accommodate the demand, Clearford said.