Emerald Technology Ventures Invests in Canadian-based Water Infrastructure Inspection Company PPIC and Names Two to Board

    TORONTO and MONTREAL, Sept. 16 /CNW/ - The Pressure Pipe Inspection
Company (PPIC), a leader in water pipe infrastructure inspection technologies,
has announced the closing of its first venture capital financing in the
company's eleven year history. Emerald Technology Ventures, a global leader in
cleantech venture capital, was the sole investor in the financing round. As
the acknowledged global leader in the evaluation of water pipelines, PPIC
provides their clients with the information they need to fully understand the
actual condition of their infrastructure. Based on this assessment, water
supply system managers can establish a meaningful cost-savings plan for the
rehabilitation and long-term maintenance of their lines. By pinpointing
damaged sections of pipe, PPIC helps clients save millions of dollars in
pipeline repair costs. PPIC is committed to working with the water industry to
help set the standards for pipeline inspection and monitoring. They continue
to bring new pipeline evaluation technologies to market by investing in R&D
and working closely with external research partners.
    "The aging water infrastructure in cities around the world combined with
the scarcity and conservation of water is driving the growth of PPIC", said
Peter Crombie, Partner with Emerald Technology Ventures. "This is the classic
case of a private company that has hit an inflection point where it requires
equity capital to rapidly grow its business in light of the growing market
    "We are excited by the potential for our business and are pleased to have
partnered with Emerald Technology Ventures given their international
connections and experience working with high-growth water technology
companies", said Brian Mergelas, CEO of PPIC. "Building on our success to
date, this investment will accelerate our growth in North America and in other
key global markets".
    In connection with this financing, Peter Crombie and Scott MacDonald of
Emerald Technology Ventures have joined the PPIC Board of Directors.

    About the Pressure Pipe Inspection Company (PPIC)
    PPIC is the recognized leader for condition assessment of strategic
pressurized water pipelines. The company's customers are water and wastewater
utilities around the world that are responsible for managing an aging and
expensive water infrastructure. PPIC's uses patented technologies to evaluate
and pinpoint problems and prioritize rehabilitation budgets in order to reduce
water losses, avoid catastrophic pipeline failures, defer capital expenditures
and meet regulations. www.ppic.com

    About Emerald Technology Ventures
    Emerald Technology Ventures is a global leader in cleantech venture
capital. Founded in 2000, Emerald is a pioneer in this rapidly emerging sector
and is focused on innovative technologies in energy, advanced materials and
water. From offices in Zurich, Switzerland and Montreal, Canada, Emerald
manages three venture capital funds and two venture capital portfolio mandates
totalling over EUR 300 million (USD 440 million). Emerald is currently
investing out of its latest fund and is looking for energetic and passionate
entrepreneurs with the vision to build world-class clean technology companies.

For further information:

For further information: Emerald Technology Ventures: Scott MacDonald,
Partner, 300, rue du Saint-Sacrement, Suite 425, Montreal, QC, H2Y 1X4,
Canada, Tel (514) 789-6458, Fax (514) 286-9817,
scott.macdonald@emerald-ventures.com; The Pressure Pipe Inspection Company
Ltd: Brian Mergelas, PhD, President & CEO, 4700 Dixie Rd, Mississauga,
Ontario, L4W 2R1, Canada, Tel (905) 624-1040, Fax (905) 624-4777

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