CALGARY, June 18, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) is pleased to announce that it has signed new
multi-year licensing agreements with major North American oil pipeline
operators. The agreements allow for the use of Pure's SmartBall® technology to inspect oil and refined product pipelines over three
years and are expected to generate approximately $3.5 million over this
The SmartBall system is a patented, innovative leak detection technology
and multi-sensor device for use in water, wastewater and oil & gas
pipelines. It consists of a free-swimming ball with an instrumented
aluminum alloy core capable of detecting very small acoustic events in
pressurized pipelines. It can also log pressure, temperature and stress
changes within the pipeline. The SmartBall system can be inserted into
a pipeline and can travel with the fluid flow for up to 18 days,
collecting information over many miles of pipeline in a single
The Company has been offering its services to the oil and gas pipeline
industry since 2007. In 2013, Pure inspected over 7,000 km of oil
pipeline, an increase of over 120% compared to the previous year.
Overall, there has been an increase in the amount of oil pipeline
inspection using SmartBall technology, partly driven by proactive
pipeline operators and regulators. The Company is currently reviewing
additional business development initiatives aimed to sustain and
accelerate further growth in this sector.
Use the following link to view a video on SmartBall for Oil & Gas:
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).
® 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 Paul Moon, Investor Relations; 403 266-6794 or email@example.com.