Clean TeQ Water Limited announced a partnership with Upwell Water LLC to invest in water treatment plants and sell water treatment services under a Build, Own, Operate and Transfer delivery model. Clean TeQ Water and Upwell are targeting the deployment of $150 million over four years. Under the partnership, Clean TeQ Water will take full responsibility for the design, installation and operation of water treatment plants and assets, with Upwell providing the necessary capital.

The detailed financial terms will be project specific and the result of negotiations with the end-user. Under the agreement, Upwell is provided exclusive rights of first refusal for BOO(T) projects that Clean TeQ Water pursues globally. The agreement with Upwell provides Clean TeQ Water the ability to offer a range of BOO(T) projects and services through this partnership.

It will enhance the Company's future growth by attracting customers that are capital constrained such as municipalities, and customers that lack the appetite to manage and own water treatment assets. Moreover, BOO(T) will provide Clean TeQ Water with a long-term revenue stream from ongoing operations, maintenance and consumables sales, as well as a share in the return on the capital invested in projects.