CALGARY, June 12, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) announced today that it has been awarded new work
worth approximately $8 million by the Board of Management of the Lake
Huron Primary Water Supply System ("LHPWSS"), London, Ontario. The
award is for the supply and installation of Pure's proprietary,
acoustic fibre-optic ("AFO") monitoring system on a major water
pipeline serving approximately 500,000 people spanning eight
municipalities in the London area. The contract includes real-time
pipeline monitoring services for two years.
After four pipeline failures (the latest in 2012), LHPWSS undertook a
proactive approach to manage its critical pipeline through a
technology-driven management program. Through leak detection and
condition assessment surveys using the Company's SmartBall® and PipeDiver® inspection platforms, LHPWSS and Pure began to collect information on
the existing condition of the pipeline. Subsequent to these
inspections, LHPWSS verified and replaced three pipe sections showing
high levels of distress, likely leading to failure, and identified
additional pipes for future replacement. Once commissioned
(approximately fourth quarter of 2014), Pure's AFO monitoring system
will identify any further deterioration of the pipeline in real-time,
preventing failures, and will allow LHPWSS to plan for future repairs
Included in the total award amount is approximately $1.8 million for
civil works and $1.1 million for real-time pipeline monitoring.
Information on the 2012 inspection and LHPWSS found here (with video):
Information on a follow up inspection found here:
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 (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 Paul Moon, Investor Relations; 403 266-6794 or firstname.lastname@example.org.