Pure Technologies Awarded New Work in Miami-Dade Worth $23.2 Million U.S.
CALGARY, March 25, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that its wholly-owned subsidiary, Pure Technologies U.S. Inc. ("Pure U.S."), has been awarded new work worth approximately US$23.2 million over four years by the Board of County Commissioners of Miami-Dade Water and Sewer Department ("WASD").
Under the contract, Pure U.S. will provide inspection and monitoring services for a portion of WASD's water and wastewater system comprised of large-diameter concrete pipelines. This significant award highlights WASD's commitment to their proactive asset management strategy for critical pipeline assets and the successful delivery of water services to its many customers. Pure U.S. has been working with this important customer since 2010.
The inspection and monitoring services will utilize a range of Pure's patented leak detection and condition assessment technologies including its PipeDiver®, SmartBall® and SoundPrint® Acoustic Fibre-Optic monitoring technologies.
Previously announced work for WASD:
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 (PureEM™, SmartBall®, Sahara®, PipeDiver®, PureRobotics®; PureMFL™;
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure.
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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