CALGARY, Jan. 2, 2013 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) announced today that it has been awarded new work
in Canada and the U.S. encompassing the full range of Pure's services
including pipeline inspection, leak detection, condition assessment and
specialized engineering services for water pipelines.
The Company's wholly-owned subsidiary, Pure Technologies U.S. Inc., has
been awarded new work by the Louisville Water Company ("LWC" or the
"Client"), Kentucky, USA, to provide electromagnetic inspection and
leak detection services for large-diameter water mains in a multi-year
program. The contract is for one-year, with four possible option years,
and valued up to $10.2 million over the full period. For 2013, Pure
expects revenue from this contract to be approximately $1.7 million.
LWC and Pure have been working together since 2009 as part of the
Client's 10-year plan to assess all large-diameter water mains in their
system. The Louisville Water Company provides drinking water to
approximately 850,000 people in the Louisville Metro area, and parts of
neighbouring counties, through a network of over 4,000 miles of water
mains. Previous work performed by Pure included an inspection of a live
60-inch water transmission main. More details (with video) of this 2011
inspection can be found using the link:
Pure has also been awarded new work with The Regional Municipality of
York ("York Region"), Ontario, Canada, to provide condition assessment
and project management services for a critical water main providing
drinking water to the Region. The technologies to be utilized during
the assessment include Pure's patented SmartBall® and PipeDiver® technologies; project management will be administered by Pure
Engineering Services. The work is expected to be completed by the third
quarter of 2013 and the contract is valued at approximately $1.2
Previous work performed for York Region includes pilot inspections
utilizing Pure's robotics equipment and SmartBall leak detection
technology as part of York Region's infrastructure management programs.
York Region is responsible for production, treatment, storage, and
transmission of water to its nine area municipalities in the province
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 (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 Manager at (403) 266-6794 or e-mail to firstname.lastname@example.org.