Cleantek Industries announced that it has secured a $2 million senior credit facility with a Canadian financial institution.
The facility is intended to support Cleantek’s ongoing international growth initiatives and provide additional working capital flexibility. The company said the new credit facility carries customary commercial terms and conditions.
Cleantek provides patented technology solutions designed to improve operational performance and reduce costs in the wastewater management and industrial lighting sectors.
The company said the facility is expected to enhance its financial flexibility as it advances a previously announced large international project and pursues additional growth opportunities in key markets. The facility is also expected to support inventory growth and strategic business development initiatives.
In connection with the new facility, Cleantek has retired the remaining capacity under its previous asset-based lending facility, commonly referred to as the build loan.
Cleantek said the new facility will support its previously announced 60-unit HALO SE international sale while also helping streamline its capital structure.
Cleantek is an energy technology company providing specialized wastewater treatment, disposal equipment, and turnkey sustainable lighting rental solutions. The company serves clients including exploration and production companies across North America.
The company said its focus on patented technology, sustainability, safety, and operational excellence positions it to meet rising demand in the water treatment and sustainable lighting markets.
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“We continue to focus on growth, and we see that growth reflected quarter over quarter. The facility provides additional flexibility as we execute on our previously announced 60-unit HALO SE international sale while supporting broader corporate initiatives and further streamlining our capital structure.”
Riley Taggart, Chief Executive Officer of Cleantek Industries
