CALGARY, March 4, 2013 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) announced today that it has been awarded new work
in the U.S., Middle East and New Zealand for an aggregate contract
value of approximately $2 million.
The Company has been selected as a member of a consultant team working
towards the delivery of a comprehensive, water master plan for a major
U.S. water utility. The master plan will allow for the implementation
of a proactive asset management strategy to extend the life of existing
and future water infrastructure in a cost-effective manner. Pure's role
during the contract will be to develop and implement a pipeline
condition assessment program, utilizing a number of the Company's
proprietary technologies, and to conduct forensic analysis on water
main breaks in the system. The condition assessment tools expected to
be deployed include Pure's proprietary PipeDiver®, SmartBall® and
Sahara® inspection technologies. The contract is divided into 3
phases. Phase 1 of the program, worth up to approximately $1 million to
Pure, will be overseen by the Company's San Diego office with work
expected to commence in the first quarter of 2013. Additional phases of
this major program will be announced moving ahead.
In addition, Pure has been awarded new work in the Middle East and New
Zealand to conduct electromagnetic testing on water pipelines. This
work, expected to commence during the first and second quarters of the
year, utilizes one or more of Pure's technology platforms such as the
PipeDiver tool. In aggregate, the contract value for these projects is
approximately $1 million and has the potential to grow in size and
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).
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"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.