CALGARY, Feb. 25, 2016 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR), is pleased to report that the previously announced selection of Pure Technologies U.S. Inc. ("Pure U.S.", Pure's wholly-owned subsidiary) to lead a multi-year program for the City of Baltimore for up to US$20 million has been approved.
At the end of 2014, Pure U.S. was selected by The City of Baltimore to lead a multi-year program to provide services related to the management of large-diameter water transmission pipelines. With contract negotiations and approval now complete, the program is expected to operate for a period of five years, with Pure U.S. to receive payment in an amount up to US$20 million with the option to extend for up to five additional years. Work is anticipated to commence imminently.
During the program, Pure U.S. will provide condition assessment, remaining service life analysis and long-term monitoring services for large-diameter water transmission pipelines located in Baltimore, Maryland, USA. Pure U.S. was selected based on its expertise, experience and proprietary technologies, some of which have become the industry standard in assessing the health of water and wastewater pipelines around the world. Pure U.S. has been working with this important customer since 2005.
The inspection and monitoring services are expected to utilize a range of Pure's patented leak detection and condition assessment technologies, among others, including its PipeDiver®, SmartBall® and SoundPrint® Acoustic Fibre-Optic monitoring technologies.
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;
- Recurring revenue from data analysis, site maintenance, and from technology licensing;
- Premium technical services including pipeline inspection, leak detection and condition assessment;
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure.
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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.