CALGARY, April 7, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) announced today that it has been awarded new work
with existing clients in Saudi Arabia, Scotland and the U.S.
encompassing its services within the water pipeline and bridge sectors.
The Company's wholly-owned subsidiary, Price Brothers (UK) Ltd., has
been awarded new work for the tender sum of $1.3 million for the supply
of a new SoundPrint® acoustic monitoring system on Forth Road Bridge in Edinburgh, Scotland.
Under the contract, the Company will design, supply, install and
commission its proprietary monitoring equipment and provide maintenance
and monitoring services for a 5-year period. Work will commence during
the second quarter and is expected to be completed prior to the end of
the third quarter of this year.
Pure has been monitoring the full length of the two main cables of Forth
Road Bridge since 2006 and SoundPrint was originally selected based on
its successful use on a number of U.S. suspension bridges. The Forth
Road Bridge, opened in 1964, is one of the longest suspension bridges
in Europe, with a main span of 1,006 m and a total length of 2.5 km.
The bridge crosses the Forth Estuary west of Edinburgh, Scotland.
In addition, Pure's Abu Dhabi office has received new work worth
USD$670,000 to perform leak detection services on water pipelines for
clients in the Kingdom of Saudi Arabia. The Company's proprietary
SmartBall® technology will be utilized in an upcoming inspection program targeting
critical pipelines responsible for delivering water to multiple
jurisdictions within the Kingdom. The bulk of the work is expected to
be completed by the end of the second quarter with the possibility of
additional work worth USD$300,000 upon successful completion of the
Furthermore, Pure's wholly-owned subsidiary, Pure Technologies U.S. Inc.
("Pure U.S."), has been awarded a 6-year pricing agreement with a major
power producer located in the Southwestern United States. The Company's
PureEM™ technology will be utilized to inspect the client's
large-diameter pipelines used to transport recycled water for cooling
purposes. PureEM is a patented, electromagnetic technology which
provides a "snapshot" of the condition of large-diameter water and
wastewater transmission pipelines (concrete or metallic). It is
expected that work in the amount of $1.2 million will be initiated
during the second quarter of 2014 as part of the client's scheduled
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 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.