Stefan Riolo appointed Executive Director of Clearflowplus

Stefan Riolo has been appointed Executive Director of Clearflowplus, a publicly listed subsidiary of the Water Services Corporation (WSC). 

Ing. Riolo, who holds the role of Chief Production and Distribution at the Water Services Corporation, succeeds David Sacco. 

In his position at the WSC, Ing. Sacco oversees all reverse osmosis plants, groundwater abstraction, blending, water networks, and all infrastructure that secures a stable water supply. 

He holds a Master’s degree in executive business administration and a Degree in Mechanical Engineering from the University of Malta. 

Clearflowplus said that he has driven massive cost savings over his 30-year tenure, through non-revenue water reduction, specific energy reduction measures, and operational efficiencies. 

“Guided by his core motto of ‘doing more with less,’ his focus on practical efficiency has consistently delivered outstanding operational results,” it said. 

His appointment comes shortly after economist Angela Azzopardi was also named Executive Director of the company.

Clearflowplus is probably best known for issuing Malta’s first green bond in 2023 to finance environmental projects such as upgrades to the water network and the installation of new PV panels.

The bond carries a fixed coupon of 4.25 per year and is set to mature in 2033.

Photo: Stefan Riolo/ LinkedIn