Pure Technologies awarded new work in Canada and the U.S.
CALGARY, Jan. 2, 2013 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that it has been awarded new work in Canada and the U.S. encompassing the full range of Pure's services including pipeline inspection, leak detection, condition assessment and specialized engineering services for water pipelines.
The Company's wholly-owned subsidiary, Pure Technologies U.S. Inc., has been awarded new work by the Louisville Water Company ("LWC" or the "Client"), Kentucky, USA, to provide electromagnetic inspection and leak detection services for large-diameter water mains in a multi-year program. The contract is for one-year, with four possible option years, and valued up to $10.2 million over the full period. For 2013, Pure expects revenue from this contract to be approximately $1.7 million.
LWC and Pure have been working together since 2009 as part of the Client's 10-year plan to assess all large-diameter water mains in their system. The Louisville Water Company provides drinking water to approximately 850,000 people in the Louisville Metro area, and parts of neighbouring counties, through a network of over 4,000 miles of water mains. Previous work performed by Pure included an inspection of a live 60-inch water transmission main. More details (with video) of this 2011 inspection can be found using the link:
Pure has also been awarded new work with The Regional Municipality of York ("York Region"), Ontario, Canada, to provide condition assessment and project management services for a critical water main providing drinking water to the Region. The technologies to be utilized during the assessment include Pure's patented SmartBall® and PipeDiver® technologies; project management will be administered by Pure Engineering Services. The work is expected to be completed by the third quarter of 2013 and the contract is valued at approximately $1.2 million.
Previous work performed for York Region includes pilot inspections utilizing Pure's robotics equipment and SmartBall leak detection technology as part of York Region's infrastructure management programs. York Region is responsible for production, treatment, storage, and transmission of water to its nine area municipalities in the province of Ontario.
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management technology and services company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world. Pure's business model incorporates four distinct but complementary business streams:
Sales of proprietary monitoring technologies for pipelines, bridges and
structures (SoundPrint®, SoundPrint® AFO);
Recurring revenue from data analysis and site maintenance for these technologies, and from
Premium technical services including pipeline inspection, leak detection and condition assessment (P-Wave®, SmartBall®, Sahara®, PipeDiver®, PureRobotics™);
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure (Openaka Corp., Price Brothers UK Ltd, and Jason Consultants).
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words "believes", "expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and the Company's actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of Management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, the Company's filings with Securities Regulators (www.sedar.com).
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To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com. Or contact James E. Paulson, Chairman, Karen Keebler, Chief Financial Officer or Paul Moon, Investor Relations Manager at (403) 266-6794 or e-mail to email@example.com.