CALGARY, July 16, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) is pleased to announce that its subsidiary, Pure Inspection Technologies Mexico, S.A. de C.V., has been awarded new work in Cutzamala, Mexico worth approximately $5 million. The new work is scheduled to be completed within the fourth quarter of this year.
Under the terms of the new contract, Pure will supply, install and commission its proprietary SoundPrint® Acoustic Fiber-Optic ("AFO") monitoring system on a portion of a major water pipeline delivering drinking water to over 5 million people in Mexico City. The new installation work represents the final phase of multi-year program and adds to previously installed AFO equipment by the Company starting in 2010. Upon completion, Pure will continuously monitor approximately 150 kilometers of pipeline on this major water system, making it the Company's largest monitoring program on a single water system within the Americas.
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 technology licensing;
- 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).
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SOURCE: Pure Technologies Ltd.
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