About

Announcements

Investors' Relations

About

Announcements

Investors' Relations



Clearflowplus plc, a Subsidiary of Water Services Corporation, has as its main objects:


1. (i) the provision of technical consultancy services inter alia with the distribution of water for domestic, commercial, industrial and other purposes, the conservation and exploitation of water resources and sources of water supply, the treatment of wastewater and the creation of novel ways of exploiting water resources in general; and


2. (ii) the provision of consultancy services and supplies in connection with reverse osmosis plants, wastewater treatment facilities, laboratory analysis, information technology and property management.


CFP is currently a revenue-generating company that prioritizes sustainability and promotes eco-friendly activities. One of its main focuses is the provision of water through industrial reverse osmosis systems for the hospitality sector. In addition, the Issuer also provides private and public water dispensers to make clean, safe drinking water more accessible to the general public. By offering these products, the Issuer aims to reduce the number of plastic water bottles that end up in landfills or otherwise in the environment, and promote healthier lifestyles by encouraging individuals to drink more water.


In addition to focusing on sustainable products and responsible business practices, the Issuer also aims to commercialize the knowledge-based and operational expertise of its parent undertaking, Water Services Corporation. With years of experience in the water industry, Water Services Corporation has developed a wealth of knowledge and technologies related to water treatment, conservation, and management. By commercializing this knowledge, the Issuer aims to generate revenue and advance the industry as a whole and contribute to solving the world’s water-related challenges. Furthermore, through partnerships with other companies and organizations, the Issuer aims to leverage its expertise to impact the environment and society while growing its business positively.


OUR TEAM

Dr. Vince Micallef

Chairman and non-executive Director of the Issuer

Dr. Vincent Micallef graduated as Doctor of Laws in 2006 u subsequently obtained the warrant to practice the profession of advocate in the courts of Malta and Gozo.


Dr. Micallef commenced his career as a legal officer in the Malta Police Force where he formed part of the prosecution’s and advisory team legal affairs, being also in charge of a number of prosecutions before the Courts of Justice. Dr. Micallef also lectured Criminal Law, Human Rights’ Law and Juvenile Law at the Academy for Criminal Justice. He also represented the Malta Police Force in Belgium, Brussels under the auspices of Europol.

Throughout his legal career, he was exposed to various legal assignments in the litigation sector, in front of both the Inferior Courts as well as the Superior Courts. He currently manages his law firm Vincent Micallef & Associates. Apart from his legal profession as an Advocate in judicial cases, Dr. Micallef served and continued to serve on various boards of directors, within both private companies and government-owned entities, in some of which he serves as Chairman and/or as a Non-Executive Director. Furthermore, Dr. Micallef had also been elected to serve for a number of years as a member representing Malta of the European Committee on the Prevention of Torture and Inhuman or Degrading Treatment or Punishment within the Council of Europe, within the terms of the European Convention of Human Rights.


Apart from being a Director of the Issuer, Dr. Micallef is also a member of the Audit Committee of the Issuer and a

member of the Board of the Guarantor and of the internal audit committee of the Guarantor.

Mr. Karl Cilia

Mr. Karl Cilia

Vice-Chairman and executive Director of the Issuer

Vice-Chairman and executive

Director of the Issuer)

Vice-Chairman and executive

Director of the Issuer

Vice-Chairman and executive

Director of the Issuer

Vice-Chairman and executive

Director of the Issuer


Mr. Karl Cilia was appointed as the Chief Executive Officer (CEO) of the Water Services Corporation effective 25th

July 2022. With his extensive experience and expertise in the fields of informatics, technology, and management,

Mr. Cilia was well-suited to lead the corporation in its mission to provide essential water services to the people

of Malta.


Mr. Cilia began his career in the private sector, working for the multinational corporation IBM, where he specialised in

the utilities industry. He played an instrumental role in implementing the smart metering system for both the Water

Services Corporation and Enemalta p.l.c., a major achievement that helped improve the efficiency and sustainability

of Malta’s water and energy sectors, and was the first nationwide rollout of smart metering installation to the grid at

the time of its implementation.


In recent years, Mr. Cilia has served as the Executive Director of Operations, responsible for the end-to-end energy

provision and distribution network of Enemalta p.l.c., the sole Distribution System Operator in Malta. His experience

and leadership in the utilities sector were invaluable as he took on the role of CEO for the Water Services Corporation.

As CEO, he oversaw the planning, development, and management of Malta’s water resources.

As CEO, Mr. Cilia was tasked with ensuring that the Water Services Corporation continued to provide high-quality,

affordable, and sustainable water services to the people of Malta. He worked closely with the Corporation’s

stakeholders, including government agencies, businesses, and consumers, to develop strategies and policies that

promoted responsible water use and protected Malta’s precious water resources.

Mr. Karl Cilia was appointed as the Chief Executive Officer (CEO) of the Water Services Corporation effective 25th

July 2022. With his extensive experience and expertise in the fields of informatics, technology, and management,

Mr. Cilia was well-suited to lead the corporation in its mission to provide essential water services to the people

of Malta.


Mr. Cilia began his career in the private sector, working for the multinational corporation IBM, where he specialised in

the utilities industry. He played an instrumental role in implementing the smart metering system for both the Water

Services Corporation and Enemalta p.l.c., a major achievement that helped improve the efficiency and sustainability

of Malta’s water and energy sectors, and was the first nationwide rollout of smart metering installation to the grid at

the time of its implementation.


In recent years, Mr. Cilia has served as the Executive Director of Operations, responsible for the end-to-end energy

provision and distribution network of Enemalta p.l.c., the sole Distribution System Operator in Malta. His experience

and leadership in the utilities sector were invaluable as he took on the role of CEO for the Water Services Corporation.

As CEO, he oversaw the planning, development, and management of Malta’s water resources.

As CEO, Mr. Cilia was tasked with ensuring that the Water Services Corporation continued to provide high-quality,

affordable, and sustainable water services to the people of Malta. He worked closely with the Corporation’s

stakeholders, including government agencies, businesses, and consumers, to develop strategies and policies that

promoted responsible water use and protected Malta’s precious water resources.

Mr. Karl Cilia was appointed as the Chief Executive Officer (CEO) of the Water Services Corporation effective 25th

July 2022. With his extensive experience and expertise in the fields of informatics, technology, and management,

Mr. Cilia was well-suited to lead the corporation in its mission to provide essential water services to the people

of Malta.


Mr. Cilia began his career in the private sector, working for the multinational corporation IBM, where he specialised in

the utilities industry. He played an instrumental role in implementing the smart metering system for both the Water

Services Corporation and Enemalta p.l.c., a major achievement that helped improve the efficiency and sustainability

of Malta’s water and energy sectors, and was the first nationwide rollout of smart metering installation to the grid at

the time of its implementation.


In recent years, Mr. Cilia has served as the Executive Director of Operations, responsible for the end-to-end energy

provision and distribution network of Enemalta p.l.c., the sole Distribution System Operator in Malta. His experience

and leadership in the utilities sector were invaluable as he took on the role of CEO for the Water Services Corporation.

As CEO, he oversaw the planning, development, and management of Malta’s water resources.

As CEO, Mr. Cilia was tasked with ensuring that the Water Services Corporation continued to provide high-quality,

affordable, and sustainable water services to the people of Malta. He worked closely with the Corporation’s

stakeholders, including government agencies, businesses, and consumers, to develop strategies and policies that

promoted responsible water use and protected Malta’s precious water resources.

Mr. Matthew Costa

Mr. Matthew Costa

Executive Director of the Issuer

Executive Director of the Issuer

Mr. Matthew Costa worked his way up through the ranks of the Water Services Corporation, Malta’s main water and wastewater service provider, over a 14-year period to his current position of Chief Financial Officer. Throughout the years, he was an integral part of the finance office, business development function and the Corporation’s EU funds office. In his capacity as Chief Financial Officer, Mr. Costa’s remit spans wide to also include performance analysis, procurement, supply chain and warehousing, human resources and business development.


Throughout recent years in his career, he championed and drove forward good governance initiatives and innovative financial practices within the WSC Group, setting the tone for new financing opportunities and sustainable growth.

This professional experience is backed by an academic background in business and finance, attained from the London School of Economics. Mr. Costa furthered his academic studies in entrepreneurship and later on in distributed ledger technologies, both of which are areas he is passionate about due to their ever-increasing importance in today’s economies.

Mr. Matthew Costa worked his way up through the ranks of the Water Services Corporation, Malta’s main water and wastewater service provider, over a 14-year period to his current position of Chief Financial Officer. Throughout the years, he was an integral part of the finance office, business development function and the Corporation’s EU funds office. In his capacity as Chief Financial Officer, Mr. Costa’s remit spans wide to also include performance analysis, procurement, supply chain and warehousing, human resources and business development.


Throughout recent years in his career, he championed and drove forward good governance initiatives and innovative financial practices within the WSC Group, setting the tone for new financing opportunities and sustainable growth.

This professional experience is backed by an academic background in business and finance, attained from the London School of Economics. Mr. Costa furthered his academic studies in entrepreneurship and later on in distributed ledger technologies, both of which are areas he is passionate about due to their ever-increasing importance in today’s economies.

Ing. David Sacco

Ing. David Sacco

Executive Director of the Issuer

Executive Director of the Issuer

Ing David Sacco has been in the water sector for more than thirty years. Ing. Sacco holds a Bachelors Degree in Engineering and a Masters in Business Administration. He is also a Chartered Engineer and a member of the Institute of Engineering Technology of UK.


Ing. Sacco has expertise in desalination and membrane treatment projects ranging from design, project management

as well as operations and maintenance. During his employment period with Water Services Corporation he was responsible for all reverse osmosis plants’ optimization programs that included project financing, design, manufacturing and commissioning. He was also instrumental in the development of special tools to ensure production of water at high efficiency levels and hence lowest operational cost possible. He is currently also responsible for the management of all wastewater and reclamation plants operated by Water Services Corporation.


Apart from being a Director of the Issuer, Ing. Sacco is also the Production & Treatment CO of the Guarantor.

Ms. Angela Azzopardi

Ms. Angela Azzopardi

Non-executive Director of the Issuer

Non-executive Director of the Issuer

Ms. Angela Azzopardi graduated as Valedictorian in 2013 in the Bachelor of Commerce (Honours) Degree in Economics at the University of Malta.


She started her career as Junior Economist at the Economic Policy Department (‘EPD’) in the Ministry for Finance and Employment (‘MFE’) in 2013. Following various promotions over the past ten years she is currently the Head of Secretariat of the MFE. As an economist at MFE and the main technical liaison between the Ministry’s Secretariat and EPD, Ms. Azzopardi has been directly involved in all stages of the Budget process. Along the years, she has also performed econometric modelling for entities under the Ministry’s portfolio including the Commissioner for Revenue.


Apart from being a Director of the Issuer, Ms. Azzopardi is also a member and Chairperson of the Audit Committee of the Issuer.

Mr. Luke Cann

Non-executive Director of the Issuer

Mr. Luke Cann

Non-executive Director of the Issuer

Mr. Luke Cann, a warranted accountant and auditor, holds a Bachelor of Accountancy (Honours) degree and a Masters in Financial Services from the University of Malta. He commenced his professional career in the assurance division of a mid-tier firm, progressing to a senior position within the business advisory division. Subsequently, Luke was appointed to a director role of the business advisory division of the same firm. During this period Luke was actively involved in driving strategic growth and development of this division and was involved in multiple sizeable corporate finance transactions.


From the experience garnered in his career, in 2023, through Fusion Advisory, Luke commenced providing boutique

advisory and business consulting services to an array of local and international businesses operating in various

economic sectors

Ing. Abigail Cutajar

Ing. Abigail Cutajar

Non-executive Director of the Issuer

Non-executive Director of the Issuer

Ing. Abigail Cutajar is a Warranted and Chartered Engineer by profession. She mainly focuses on policy development of new emerging technologies, energy consultancy, and the development of green buildings.


Ing. Cutajar obtained a Bachelors degree and then a Masters degree in Engineering from the University of Malta. She

furthered studies in the areas of Energy and Sustainability in buildings which led to the acquisition of professional

accreditation in Leadership in Energy and Environmental Design (LEED). Appointed as an Advisor to the Maltese Government for the execution of policy development within the areas of Energy, Electrification and Climate Action.

Her involvement in the building sector includes providing technical expertise to achieve high-performance green building design and construction projects through the adoption of LEED practices. Her work experience varies widely across different industries. This involves the implementation of high-value investment projects, in efforts to acquire and certify state-of-the-art developments, which are highly efficient and sustainable along the whole lifecycle of the project.


Apart from being a Director of the Issuer, Ing. Cutajar is also a member of the Audit Committee of the Issuer and a member of the Sustainability Committee of the Issuer.

Ms. Katrina Cuschieri

Ms. Katrina Cuschieri

Non-executive Director of the Issuer

Non-executive Director of the Issuer

Ms. Katrina Cuschieri is an economist (B.Com - Econ) and accountant (ACCA qualified) by profession and a graduate

with a Master’s degree in Political Science and Political Economy from the London School of Economics. She is currently serving as a Policy Advisor at the Ministry for the Environment, Energy, and Enterprise, working on projects related to economic development, green energy and enterprise policy.


In her role, she works closely with stakeholders from various industries, including the private and public sector,

academia and civil society organisations, to develop national solutions which address current economic, sustainability and social challenges.


Apart from being a Director of the Issuer, Ms. Cuschieri is also a member of the Audit Committee of the Issuer.

ClearFlowPlus p.l.c., a public limited liability company registered in Malta, with company registration number C 38895

and legal entity identifier (LEI) number 9845001FE9M574159235.

© 2023 Clearflowplus p.l.c.

ClearFlowPlus p.l.c., a public limited liability company registered in Malta, with company registration number C 38895 and legal entity identifier (LEI) number 9845001FE9M574159235.

© 2023 Clearflowplus p.l.c.

ClearFlowPlus p.l.c., a public limited liability company registered in Malta, with company registration number C 38895 and legal entity identifier (LEI) number 9845001FE9M574159235.

© 2023 Clearflowplus p.l.c.