Pure Technologies Awarded Multi Year Leak Detection Contract in Qatar
CALGARY, June 9, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) is pleased to announce that it has been awarded a major leak detection contract by Qatar General Electricity and Water Corporation ("Kahramaa"), Qatar, valued at up to $4 million over a three year period commencing June 2014.
Under the contract, Pure, through its Abu Dhabi based operations, will provide leak detection services on a significant portion of Kahramaa's large-diameter pipeline network critical to the delivery of treated, desalinated water for commercial, industrial and residential users. The Company's proprietary SmartBall® technology will be utilized for pipelines between 600mm to 1600mm in diameter during the contract period. It is an innovative, free-swimming inspection technology designed to operate in a live pipeline, locating very small leaks, gas pockets and identifying structural defects.
For over thirty years, Kahramaa has undertaken a proactive leak detection program for their expanding network of water pipes. Non-Revenue Water for distribution networks in Qatar has been significantly reduced over the past five years due to the use of advanced methodologies and best practices. The SmartBall technology has been selected due to its ability to find previously undetectable leaks on large diameter pipelines, which in the past led to flooding, pipeline failures and service disruptions.
Pure's SmartBall technology has been successfully deployed in numerous projects worldwide, pinpointing thousands of leaks. The technology is also being deployed in a growing number of oil and petroleum product pipelines.
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 (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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