CALGARY, Feb. 24, 2012 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) reported today that the previously announced
$17.2 million contract award between Openaka (a division of Pure's
Engineering Services Group) and the Washington Suburban Sanitary
Commission ("WSSC"), Laurel, Maryland has been fully executed, allowing
for the continued success of the comprehensive Prestressed Concrete
Cylinder Pipe ("PCCP") condition management program. The program will
continue to be managed and primarily staffed from Pure's Columbia,
Maryland office with additional support from Pure's Branchburg, New
Jersey office. On January 18, 2012, the Company announced the approval
of new work by WSSC, representing an extension of a contract awarded to
Openaka in January 2009.
Under the contract, Openaka will provide inspection, condition
assessment, integrity monitoring and risk analysis services to assist
WSSC in the management of its prestressed pipelines. Some of the
proprietary and patented technologies to be deployed under the contract
will include Pure Technologies' SmartBall® leak detection system,
PureRobotics™ electromagnetic inspection system, and the Company's
SoundPrint® Acoustic Fiber Optic (AFO) monitoring system.
WSSC has approximately 350 miles of prestressed concrete pipelines
greater than 16-inches in diameter in its system. To date, Openaka has
inspected, and is monitoring, over 60 miles of pipeline in diameters
ranging from 48-inches to 96-inches. The expansion of the contract
will extend the program for another 3 years and cover approximately 130
miles of pipeline in diameters ranging from 36-inches to 96-inches.
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 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).
® Registered Trademarks, property of Pure Technologies Ltd.
"The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release"
SOURCE Pure Technologies Ltd.
For further information:
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 at (403) 266-6794 or e-mail to firstname.lastname@example.org.